DXY & Forex

The U.S. Senate passed Kevin Warsh as a Federal Reserve (Fed) governor in a final round of voting—51 to 45—on May 12, paving the way for him to assume the Fed chair for a last vote that is expected to take place on Wednesday. According to CBS News, the 56-year-old Warsh is the frontrunner to replace the current chair, Jerome Powell; Powell’s 8-year chair term ends this Friday. Voting results: 51-45 passed, with only Fetterman crossing party lines in support Key figures for Warsh to become a Fed

According to the OECD's latest report, Japan's central bank benchmark rate is projected to reach 2% by the end of 2027. The report assumes inflation remains around 2%, noting that current rates remain near the lower bound of the neutral rate range for the economy. The Bank of Japan previously

On May 13, Japan's 20-year government bond yields rose to 3.495%, marking the highest level since 1997.

The People's Bank of China conducted a 500 million yuan 7-day reverse repo operation today (May 13) at a rate of 1.40%, unchanged from previous operations. The bid amount and successful amount were both 500 million yuan.

According to China's interbank foreign exchange market, the USD/CNY central parity rate was set at 6.8431 on May 13, strengthening 5 pips as the yuan depreciated. The EUR/CNY rate fell 290 pips to 8.0039. Other major pairs included HKD/CNY at 0.87408 (up 1.5 pips), GBP/CNY at 9.2335 (down 471 pips),

On May 13, Bitcoin fell back to $80,700. According to data released Tuesday by the U.S. Bureau of Labor Statistics (BLS), the U.S. April Consumer Price Index (CPI) rose 0.6% month-over-month, with the year-over-year increase reaching 3.8%, higher than economists’ expectations of 3.7%. On the back of the data, according to the CME’s “FedWatch” tool, the probability that the Federal Reserve will hike rates by 25 basis points in December rose to over 30%. April CPI Data Background: Hormuz Blockade

According to Bank Indonesia Deputy Senior Governor Destry Damayanti, the Indonesian rupiah fell to a record low of 17,525 per US dollar on Tuesday (May 13), prompting the central bank to pledge targeted intervention in the foreign exchange market. The rupiah has depreciated nearly 5% year-to-date, m

Market sources report that U.S. Treasury Secretary Bessent arrived in South Korea today (May 13).

According to a CITIC Securities report, U.S. inflation remained elevated in April, with rental cost increases pushing core inflation higher amid ongoing Middle East tensions. The bank noted that high inflation continues to erode household purchasing power, with low-income families facing sharper cos

Japan's 10-year government bond yield rose to 2.575% today, reaching its highest level since May 1997. The increase marks a significant milestone for the benchmark rate, reflecting shifts in market sentiment and monetary policy

Japan's seasonally adjusted current account surplus in March reached 39.01 trillion yen, exceeding the forecast of 29.38 trillion yen and the prior month's 27.09 trillion yen.

Japan's March trade surplus came in at 843.05 billion yen, surpassing expectations of 783.5 billion yen and rising sharply from 267.6 billion yen in February.

Japan's unadjusted current account surplus for March reached 46.815 trillion yen, exceeding the forecast of 38.961 trillion yen and marking a significant increase from the previous month's 39.327 trillion yen.

Japanese bank loans, including trust accounts, grew 5.4% year-over-year in April, up from 4.8% in the previous month, according to official data.

Japan's bank loans (excluding trust accounts) rose 6% year-over-year in April, up from 5.2% in the prior month, according to official data.

Japan will release its March trade balance data in approximately 10 minutes.

According to CCTV News, on May 12, the U.S. Senate confirmed Kevin Wash as a Federal Reserve Governor with a 14-year term. The Senate is expected to immediately initiate confirmation proceedings for Wash to become Federal Reserve Chair, with procedural voting potentially completed as early as May 13

According to Goldman Sachs, the U.S. dollar will strengthen further in the near term as energy price shocks keep yields elevated while economic growth remains resilient. The combination of rising inflation and growth resilience means interest rates will remain "higher-for-longer," according to Goldm

According to CME FedWatch data released on May 13, the Federal Reserve has a 97.1% probability of holding interest rates unchanged in June, with a 2.9% chance of a 25-basis-point rate cut. For July, the probability of maintaining rates stands at 96%, while a 25-basis-point cut has a 3.9% probability

On Tuesday (May 12), offshore Chinese yuan (CNH) closed at 6.7908 against the U.S. dollar, up 11 pips from Monday's close in New York trading. The currency traded within a range of 6.7977 to 6.7900 during the