Steady as she goes in the new day

<p>It's a calmer mood in markets today but Asian stocks are finding reason to rally, helped by China's promise to deliver on measures to bolster the economy. A stronger Chinese yuan fix is adding to that message as well. In case you missed the headlines, Eamonn's got you covered <a href="https://www.forexlive.com/news/forexlive-asia-pacific-fx-news-wrap-chinese-markets-benefit-from-politburo-economy-pledge-20230725/" target="_blank" rel="follow">here</a>.</p><p>The yuan is noticeably stronger as such today but that hasn't quite translated much to the rest of the major currencies bloc:</p><p>The aussie and kiwi are just a touch higher, benefitting from the stronger yuan as noted above. AUD/USD in particular is seeing an added bounce after testing its 200-day moving average yesterday. The key support level is seen at 0.6721 currently.</p><p>At this juncture, we're starting to creep into territory where markets are going to keep the focus solely on the Fed decision tomorrow next. That might make for a quieter mood in the sessions ahead. But if anything else, the risk mood will be a key driver of trading sentiment in this time of flux.</p>

This article was written by Justin Low at www.forexlive.com.