Chinese Yuan: PBoC strengthens Hong Kong hub and links – BNY

The post PBOC sets USD/CNY reference rate at 6.8077 vs. 6.8054 previous appeared on BitcoinEthereumNews.com. On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.8077 compared to the previous day’s fix of 6.8054 and 6.8018 Reuters estimate. PBOC FAQs The primary monetary policy objectives of the People’s Bank of China (PBoC) are to safeguard price stability, including exchange rate stability, and promote economic growth. China’s central bank also aims to implement financial reforms, such as opening and developing the financial market. The PBoC is owned by the state of the People’s Republic of China (PRC), so it is not considered an autonomous institution. The Chinese Communist Party (CCP) Committee Secretary, nominated by the Chairman of the State Council, has a key influence on the PBoC’s management and direction, not the governor. However, Mr. Pan Gongsheng currently holds both of these posts. Unlike the Western economies, t

Rising US-Iran tensions may drive oil prices up, potentially fueling inflation and influencing future Federal Reserve rate decisions. The post Gold dips as US-Iran tensions boost oil prices, rate hike bets appeared first on Crypto Briefing.

The post Gold edges lower to near $4,100 on renewed US–Iran tensions appeared on BitcoinEthereumNews.com. Gold price (XAU/USD) loses ground to around $4,100 during the early Asian session on Wednesday. The precious metal faces new selling pressure after the US vows a response against Iran following reports of attacks on three oil tankers in and around the Strait of Hormuz. Traders await the release of the Federal Reserve’s (Fed) June meeting minutes later on Wednesday. “US Central Command forces have begun launching a series of powerful strikes against Iran to impose heavy costs for targeting and attacking commercial shipping crewed by innocent civilians in an international waterway,” Centcom said on Tuesday. The US military added that the strikes were in response to Iranian attacks on three commercial vessels that were transiting the Strait of Hormuz. Renewed tensions threaten to further destabilize relations between Washington and Tehran after both countries inked an interim peace de

Momenta's Hong Kong IPO highlights the shift of Chinese tech firms towards local markets amid US-China tensions, impacting global tech dynamics. The post Momenta begins trading in Hong Kong after raising $752M in IPO appeared first on Crypto Briefing.

The geopolitical tensions and inflation fears highlight vulnerabilities in energy markets and challenge traditional safe-haven asset strategies. The post Gold declines as US airstrikes on Iran raise inflation fears appeared first on Crypto Briefing.

The post Europe’s MiCA Did Not Approve a Single Asset Under This Category appeared on BitcoinEthereumNews.com. Not a single company has been approved to issue an asset-referenced token (ART) under the EU’s Markets in Crypto-Assets (MiCA) regulation, two years after the rules took effect. ARTs are stablecoins backed by gold, other assets, or currency baskets. Unlike ordinary stablecoins that track one currency, such as the euro or dollar, an ART references several assets at once. Why MiCA’s ART Framework Has No Takers ARTs are designed to maintain stable value by being backed by multiple assets, rather than a single fiat currency. Examples include tokens backed by: A mix of assets, such as currencies, commodities, or other crypto assets. A basket of currencies (such as 50% euro, 50% US dollar). Gold or other commodities. MiCA reserves one of its largest sections, Title III, for these products. Lawmakers drafted the title after Facebook’s Libra, whose currency-basket design alarmed centr

The post Gold stalls below $4,200 as inflation fears rise appeared on BitcoinEthereumNews.com. Gold (XAU/USD) price retreats by 0.44% on Tuesday as the yellow metal fails to clear $4,200 amid rising US consumer inflation expectations and threats of a resumption of hostilities in the Middle East, following reports of attacks in the Strait of Hormuz. The XAU/USD pair trades at $4,146 after peaking at $4,180. Bullion retreats as yields climb and Hormuz risks return The yellow metal seems poised to consolidate after failing to clear a downward-sloping resistance trendline near $4,200, which exacerbated XAU’s drop towards the $4,150 area. Recent data from the NY Fed showed that inflation expectations rose to their highest level since September 2023. The NY Fed Survey of Consumer Expectations indicated increasing concern among Americans about the high cost of living, with one-year inflation expectations climbing from 3.5% in May to 3.7% in June. Further data showed that the Goods and Service

The post Gold Price Outlook For July 2026 appeared on BitcoinEthereumNews.com. Gold trades near $4,140 on Tuesday, down 26% from January’s record high of $5,598 per ounce. This gold price prediction for July 2026 examines why the metal keeps falling and where it could bottom. Five fundamental forces continue to weigh on the metal. Meanwhile, the weekly and daily charts point to deeper downside targets. Why is Gold Going Down? Gold’s decline started with the Strait of Hormuz. Iran has blocked the waterway since late February, driving up energy prices worldwide. As a result, US inflation reached 4.2% in June, its highest level in three years. That inflation spike flipped the Federal Reserve narrative. Markets no longer expect rate cuts and now lean the other way. According to CME FedWatch data, traders are pricing a 47.1% chance of a 25-basis-point hike in September. Another 11.1% expect a 50-basis-point move, so tightening odds total roughly 58%. Higher rates hurt gold because the metal