China's Rate Cut Meets Indifferent Markets, Canada CPI Takes Center Stage - Action Forex
The financial markets are rather calm in Asian session today, while major currency pairs and crosses largely engage in a phase of consolidation. This tranquility comes in the wake of China's surprising decision to significantly lower its mortgage reference interest rate, a move designed to provide a much-needed boost to the struggling property sector and, by extension, the broader economy. Despite the potential implications of such a policy shift, reaction across the markets was relatively muted, with only the offshore Yuan registering slight gains.
The financial markets are rather calm in Asian session today, while major currency pairs and crosses largely engage in a phase of consolidation. This tranquility comes in the wake of China's surprising decision to significantly lower its mortgage reference interest rate, a move designed to provide a much-needed boost to the struggling property sector and, by extension, the broader economy. Despite the potential implications of such a policy shift, reaction across the markets was relatively muted, with only the offshore Yuan registering slight gains.
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