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The Fed’s Beige Book released Wednesday indicated that the U.S. economy has largely stalled, with “little change” in overall activity since the previous report. Out of the 12 regional districts, three reported slight to modest growth, five showed no change, and four signaled mild softening. While some respondents expressed cautious optimism for an uptick in […]

The post Fed’s Beige Book: Inflation pressures broaden as growth, hiring flat appeared first on Action Forex.

The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate, or “midpoint.” It’s currently at +/- 2%.

The previous close was 7.1278

PBoC injects CNY 236bln via 7-day reverse repos, rate at unchnaged 1.40%

This article was written by Eamonn Sheridan at investinglive.com.

US President Donald Trump said that Indian Prime Minister Narendra Modi has agreed to stop buying oil from Russia.

Australia’s Unemployment Rate climbed to 4.5% in September from 4.3% in August (revised from 4.2%), according to the official data released by the Australian Bureau of Statistics (ABS) on Thursday. The figure came in above the market consensus of 4.3%.

ANZ forecasts for gold and silver:

• gold to peak at US$4600 by June 2026
• gold to US$4400 by year end 2025
• see the potential for lower in H2 of 2026 as the US Federal Reserve concludes its easing cycle
• silver to peak at US$57.50 by June 2026

ANZ:

• Mounting concerns around the Fed’s independence, political uncertainty, trade tariffs, geopolitical tensions, and ballooning debts will continue to keep strategic investment interest strong for gold
• ANZ cautions that a hawkish Fed stance and stronger-than-expected U.S. economic growth could pose downside risks

This article was written by Eamonn Sheridan at investinglive.com.

Earlier news on oil:

• ICYMI: Trump says India will stop buying Russian oil, vows to pressure China next

Bessent prodding Japan now.

This article was written by Eamonn Sheridan at investinglive.com.