FOREXLIVEThe USDCNY is approaching the previous max pain level around 7.37 where the PBoC intervened in 2023 so worth keeping that level marked up.
The PBoC continuously adjusted the mid-point weaker in recent sessions with yesterday seeing the weakest setting since Nov 2023.
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European stocks closed lower on Thursday on concerns the Federal Reserve might not reduce interest rates more than one time this year despite soft consumer price and producer price inflation data.
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John Wiley & Sons, Inc. (WLY) reported Thursday net income for the first quarter of $25.27 million or $0.46 per share, sharply lower than $68.34 million or $1.22 per share in the prior-year quarter.
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Asian stocks rose broadly on Thursday as soft U.S. inflation data helped keep the door open for a Federal Reserve rate cut in September.
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Asian stocks drifted lower on Wednesday as investors awaited key U.S. inflation data as well as a Federal Reserve policy decision later in the day for additional clues on the outlook for interest rates.
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