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Mondi and ATS-Tanner Launch Paper Band for Food Bundles and Multipacks

Mondi, a global leader in sustainable packaging and paper, has collaborated with Swiss converter ATS-Tanner to create an innovative paper band, which can hold individually labelled products or bundles reducing unnecessary plastic.




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British apple and pear group calls for task force on fresh produce packaging

While some groups say that fresh produce packaging is unnecessary and should be removed, British Apples & Pears Limited says the protective and shelf-life enhancing properties of packaging should be considered.




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Fox Solutions Appoints Ben Bliven as Senior Manufacturing and Operations Manager

With over 15 years of experience in the manufacturing and operations sector, Ben brings a wealth of expertise to the new role.




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Ossid to Showcase Stretch Overwrapper at Global Produce & Floral Show

Ossid, a ProMach brand, is a leading manufacturer of sustainable, efficient tray packaging, flow wrapping, thermoforming fill seal, industrial scale and labeling machinery for the food, e-commerce and medical device industries.




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Avantium, Royal Vezet to provide PEF-based packaging for Albert Heijn salad bowls

Avantium’s PEF (polyethylene furanoate) is a 100% plant-based, fully recyclable polymer and offers a renewable and circular packaging solution for Royal Vezet’s salad bowls.




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Schneider Packaging Equipment Enters High-Speed Palletizing Market

With the addition of the Hartness High-Speed Layer Palletizing Tool, Schneider is now able to offer its world-class solutions to an even larger portion of the palletizing market.




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ExxonMobil Launches Enable™ 1617 Performance PE Grade

Ideal for thin-gauge hand wrap applications, the new resin is designed to help provide high tenacity and consistent extrusion, as well as help enable the incorporation of high loading levels of post-consumer recycled (PCR) content.




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BW Flexible Systems debuts new palletizer for high-speed operations

SYMACH 3500S merges the original Thiele Master 3500 palletizer experience with the SYMACH palletizing platform.




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PACK EXPO Connects Preview Week Is Happening Now

The Preview Week event, Nov. 2-6, will kick-off with a webinar, Helpful Hints for Navigating PACK EXPO Connects, on Nov. 2, at 10 a.m. CT. It will provide tips and tricks for using the platform and offer Q&A with attendees to help them make the most out of their PACK EXPO Connects experience.




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Ultimation Industries Launches Specialty Automated Delivery Systems

Ultimation Industries LLC, a leader in conveyor technology and automation, has launched a new range of specialty automated delivery systems for the e-commerce and automotive industries. The specialty systems build on Ultimation’s success in providing conveyors for sequenced tire and wheel assemblies that can be directly unloaded from the trailer to the plant’s assembly line.




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Expert Article: Conveying Solutions that Keep Packaging Lines Moving

No manufacturer can afford to stand idle, so one expert suggests several critical design considerations to keep in mind before deciding on a conveying solution.




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Bradman Lake to Showcase Flow Wrapper, End Load Cartoner at PMMA

Attendees are invited to visit stand C100 to witness the renowned FT120 Flow Wrapper in action, now featuring the latest integrated sealing module designed for horizontal sealing.




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Heinz Launches Petition for Solution to Unequal Packs (UPDATED)

The petition aims to resolve unequal amounts of product in hot dog and hot dog bun packages.




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Biden Administration to Dedicate $1 billion for Expansion of Independent Processing Capacity

The plan includes four core strategies intended to create better earnings for groups involved in the meat and poultry supply chain.




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SEE Launches Compostable Protein Packaging Tray at IPPE 2024

Sustainable retail packaging solution replaces expanded polystyrene on processor production lines.




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Velteko Offers Packaging Machines for Operations Requiring High Hygiene Standards

The VELTEKO WASHDOWN-360 vertical packaging machine can be used in operations with more stringent hygiene requirements as well as anywhere that liquids need to be packaged.




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Greece’s Flexopack to Open Manufacturing Facility in Pennsylvania

Facility will expand the company’s packaging product manufacturing footprint into the United States, including its role as the primary packaging supplier for Pennsylvania-based poultry company Bell & Evans.




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New Line of Compact Counting & Packaging Equipment for Unmixed, Single Type or Single Flavor Products

The fully servo-driven HQ Series counting & dispensing machines are designed to provide 100% accuracy for primary or secondary packaging of candy, confectionary and chocolate as well as non-food products.




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Modern Developments Using X-Ray for Food Inspection

Advances in sophistication, quality and ease of use have made x-ray machines an indispensable tool for food safety.




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Technology Advances X-ray and Metal Detector Inspection Capabilities

With a metal detector, metals that have one or both conductive magnetic characteristics will create a detectable signal. Non-magnetic stainless steel is harder to pick up — it’s a bad conductor — and certain food products with added iron, moisture, salt and acids tend to mask metal detection. Known as the “product effect,” this can impact inspection performance.




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Mettler-Toledo Product Inspection Application Center

Based on the company’s “Test Before You Invest” program, the center enables companies to test their products on inspection systems.




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FlexXray Opens Foreign Material QA Hold Resolution Facility in South Carolina

The new facility features technology that expands the company’s ability to provide dependable inspection and QA Hold resolution services with shorter shipping times and reduced freight charges to the Southeast region.




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Automatic Inline Inspection Maximizes Sustainability of Silicone Release Liners

Techlan, with the help of ISRA Vision, developed its Re-Liner, a silicone release material that is 100% recycled, and can be reused up to 10 times in a circular system.




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Catching Errors at High Speed

From ensuring that recycled release liner rolls contain no defects to detecting leaks in flexible containers, inspection and detection technology is critical to the efficient production of high-quality packaging. Here is a look at some of the cutting-edge inspection and detection systems currently on the market.




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Yoran Imaging to Introduce Thermal Imaging Inspection & Data Capture Technology

The packaging solutions will be on display at Pack Expo Las Vegas Booth N-10942, September 11-13. 




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Norwalt Introduces Innovative Bottle Inspection System

The company’s Vue Inspection System integrates standardized vision components with custom-made elements and deep learning tools.




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Loma Systems to Showcase Inspection Systems at PACK EXPO Las Vegas

The LOMA® team will engage with customers and provide insights into its diverse range of industry-leading metal detection, X-ray inspection, and checkweighing solutions.




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Mettler-Toledo to Present Improved Inspection Systems at PACK EXPO Las Vegas

Two new x-ray inspection systems – the X12 and the X32 – as well as the latest ProdX software will be on exhibit for the first time. 




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Case Study: Läser AG enhances quality control with BOBST Digital Inspection Table

Swiss packaging firm explains how the BOBST DIT 106 for folding carton integrated effortlessly into the company’s existing quality assurance system.




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Mettler-Toledo Showcases Product Inspection Systems at Interphex

The company’s CV35 ‘combination’ system, which integrates a checkweigher with vision inspection, detects and rejects under- and overweight packages to ensure that legal weight requirements are met and to reduce product giveaway.




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Antares Vision Group to Debut Inspection Machine for BFS Cards at ACHEMA

Antares Vision Group systems are part of DIAMIND, the integrated ecosystem of solutions connecting physical products with digital identities.




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From Wine to Tortillas: Inspection, Detection, and Vision Systems Play Crucial Role

Reporting by Packaging Strategies over the last several months reveals the innumerable applications of inspection/detection/vision equipment.




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ProSpection Solutions to Debut X-Ray Technology at PACK EXPO 2024

The SXM2 Series X-Ray Inspection Systems are equipped with high-precision dual energy sensors and ARTIFICIAL INTELLIGENCE which allow processing of two overlapping images in one inspection.




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Mettler Toledo Releases X52 Dual Energy X-Ray Inspection System

The X52’s proprietary software provides increased adaptability by seamlessly transitioning between single energy, dual energy or both modes, optimizing the performance of the system depending on the application.




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Prospection Solutions to Debut Dual-Energy X-Ray Inspection System at PACK EXPO

X-ray inspection systems are pivotal to modern quality control, utilizing advanced generators and sensors to automatically detect foreign objects in food, pharmaceuticals, cosmetics, and industrial products.




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PODCAST | Sustainability and the Growing Role of Paper Barrier Solutions

Chris Marshall of BOBST – a leading supplier of substrate processing, printing and converting equipment and services for the label, flexible packaging, folding carton and corrugated board industries – talks about how the regulatory environment is coaxing some firms away from plastic and toward paper.




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Dispelling the Myths and Misconceptions about Digital Corrugated Printing

In this article, Domino’s Ben Ginesi offers his perspective on how digital corrugated printing stacks up against flexographic and lithographic printing.




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How Digital Printing Opens New Windows for Brand Managers

In this interview, Inovar’s Bill Kral explains how digital printing has evolved, why some brand managers are still reluctant to switch to digital printing, and why many who have made the leap are reaping rewards.




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Catapult installs Nilpeter's 26-inch nine-color printing press

This investment sets Catapult apart as the only printer in the US with this specification of Nilpeter press.




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Packaging’s Critical Role in the Proliferation and Appeal of Private Label Products

In this insightful article, Beth Zipko of Source Wurx makes the case that no element of private label products has improved more rapidly and dramatically than packaging, which has evolved from eyeroll-inducing to eye-catching. 




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Skipping the Label: High-Speed, Direct-to-Packaging Printing Comes of Age

MCS Inc. President David Loos says high-speed inkjet printers eliminate the need for adhesive labels by printing tracking codes, special offers and other promotional messages directly on secondary packaging.




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Four Peaks Brewing Company sees enhanced coding efficiency with LEIBINGER

Thanks to the patented nozzle seal technology in LEIBINGER printers, clogs are now a thing of the past, ensuring smooth, uninterrupted production and maximum efficiency.




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PODCAST | Trends in Inks and Coatings for Sustainable Paper Packaging

While paper packaging in many ways is more naturally eco-friendly than plastic packaging, Sun Chemical is busy developing inks and coatings solutions to ensure that true recyclability is achieved as the ‘paperization’ trend gains steam.




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Registration Now Open for Destinations International Fall 2024 Conferences: Advocacy Summit, Social Inclusion Summit and Business Operations Summit

Registration Now Open for Destinations International Fall 2024 Conferences: Advocacy Summit, Social Inclusion Summit and Business Operations Summit dbreisch@desti… Wed, 07/10/2024 - 18:22

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3 min read

Registration Now Open for Destinations International Fall 2024 Conferences: Advocacy Summit, Social Inclusion Summit and Business Operations Summit

Premier events offer essential knowledge and skills to help destination organizations lead with innovation and inclusivity

Media Contact: 
Tim Smith 
tsmith@destinationsinternational.org
1.425.577.4499

Washington, D.C., USA (July 10, 2024) – Destinations International (DI), the world’s leading resource for destination organizations, convention and visitors bureaus (CVBs), and tourism boards, has opened registration for its three remaining major events in 2024: the Advocacy Summit, which will take place in Rio Grande, Puerto Rico, from October 22-24; and the Social Inclusion Summit and Business Operations Summit, which both will take place in Spokane, Washington, October 28-30.  

Destinations International continues to provide training and development specially designed to help destination organizations anticipate transformation and thrive in a continually evolving environment. Each summit will look at current challenges and opportunities and offer the opportunity to explore, learn, and network among industry peers. Attendees will benefit from comprehensive sessions that address the most pressing issues facing the sector today, from enhancing stakeholder engagement and impactful advocacy, to advancing social inclusion, to embracing advancements in technology and innovation in business operations.

“Destinations International is committed to providing our members with the essential information they need to help their organizations and communities thrive,” said Don Welsh, president and CEO of Destinations International. “Our outstanding fall summits focus on the most pressing and timely issues facing destination organizations today and offer an unprecedented opportunity to learn from experts and network with peers. I’m confident that attendees will leave each summit with new insights and actionable strategies to take back to their organizations.”

Summit overviews:

2024 Advocacy Summit (Rio Grande, Puerto Rico – October 22-24, 2024) 
Under the theme “Advocate as Catalyst,” the summit will help destination organizations better serve as essential community assets promoting the local community as an attractive travel destination while also enhancing its public image as a dynamic place live and work. Through interactive discussions, case studies and practical exercises, attendees will develop skills, identify tools and gain knowledge to support powerful advocacy. This year, the event offers three immersive workshops to explore the rich Taíno heritage of Puerto Rico; survey the intersection of ecotourism and conservation against the unique backdrop of El Yunque National Forest, the only tropical rainforest in the U.S. National Forest System; and learn about the development of eco-cultural tourism attractions at Carabali Rainforest Adventure Park. 
(Click here for more information and to register)

2024 Social Inclusion Summit (Spokane, Washington – October 28-30, 2024)
The summit offers a series of impactful sessions and immersive experiences designed to engage community partnerships and create a welcoming environment where people of all abilities and backgrounds feel welcome, valued and understood. Through a lens of accountability, attendees will learn actionable strategies to deepen community relationships and enhance workplace culture, ultimately creating welcoming experiences for visitors. Sessions include: Fostering Community Connections for Impact; Advocacy Strategies for Engaging Local Government; and Establishing Accountability in Social Inclusion. This summit is for leaders of all abilities and backgrounds who specialize in, or have an interest in, community engagement, human resources, culture development, marketing, and inclusion and belonging.
(Click here for more information and to register)

2024 Business Operations Summit (Spokane, Washington – October 28-30, 2024)
The Business Operations Summit is a cross-functional gathering of destination organization professionals in finance, human resources, operations and technology. This year’s summit will leverage the latest advancements in finance, digital platforms and talent management, offering valuable knowledge and practical solutions to help destination organization leaders navigate the complexities of modern business operations. Join us to explore how finance, technology, and HR can drive innovation and excellence in your organization.
(Click here for more information and to register)

Please check destinationsinternational.org for latest updates on these and all Destinations International events and information.


###


About Destinations International 
Destinations International is the world’s largest and most trusted resource for destination organizations, convention and visitors bureaus (CVBs) and tourism boards. With more than 7,500 members and partners from over 750 destinations, the association represents a powerful forward-thinking and collaborative community around the world. For more information, visit www.destinationsinternational.org.  
 

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A Perfect Collab: DMOs x Higher Education

A Perfect Collab: DMOs x Higher Education jhammond@desti… Fri, 08/02/2024 - 15:50

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Workforce development is critical to the future of DMOs as we advocate for tourism investment and share the industry’s benefits across communities. Higher education institutions can become strategic partners in workforce development, research, and community engagement strategies. 

6 min read

Destination Marketing might be the biggest humblebrag in the Hospitality Industry. DMOs are doing amazing things to connect our communities, expand the benefits of tourism, drive the economy, and create authentic experiences in the humblest way possible. That sense of selflessness and passion for creating better destinations is what makes this industry so incredible. Anyone who has even caught a glimpse of the recent Annual Convention would see how incredibly cool it is to be part of a DMO. The stories of the impact that we are making in our communities should be shouted from the mountaintops!

Interestingly, though, Tourism and Hospitality Management – where the power of a DMO is taught at the college level - is currently ranked as the 61st most popular major for students in the United States. Enrollment in collegiate hospitality management programs has seen a significant decline in the past ten years due to a lack of knowledge about our industry and the ability to tell our story about the impact we make every day. Recently, HSMAI surveyed hospitality school deans and program directors and found that potential students perceive the field to be centered on hotels and F&B outlets with unstable career paths and positions that require long hours, low pay, and limited work-life balance. Further compounding the issue, the study revealed a lack of qualified faculty, limited connections to industry practitioners, and a lack of program support from ancillary departments like admissions and marketing. In other words, we need to do a better job telling the story of DMOs' impact on attracting new talent into the industry.

I have the opportunity to regularly participate in student recruitment efforts at my institution, where I meet with college-bound families or visit high school programs, and the most common question I get is, “What are the jobs in tourism?” While I have become quite adept at pitching non-linear career paths, I try to counter this question by asking the students what they want in a job. Aside from making money, I hear students seek meaning in their work. Our industry can provide exactly that and help to reshape the narrative around Tourism and Hospitality Management as a field of study. While thoroughly pitching the pillars of sustainable tourism to a high school student in 30 seconds might be a stretch, students gravitate towards concepts like community development, place branding, cultural preservation, and supporting locals. Sustainability is already on their minds, and we have an amazing opportunity to show students how they can translate their way of thinking into a remarkable career path. I’m hopeful that the incredible advocacy case studies discussed at the Annual Convention are only the tip of the iceberg and will inspire more students to find the meaning, satisfaction, and enjoyment that our industry offers.

With DMOs focusing more on community engagement and higher education and looking for more robust connection opportunities, there is the potential for incredible collaborations between organizations. With all the themes of this year’s Annual Convention in mind, here are four ways that I’ll be leveling up my curriculum this fall and how you can collaborate:

Embracing AI

Jason Swick, VP of Strategy & Insights from Simpleview, led off his presentation with a statistic that 66% of employers in our industry are now looking for AI skills on resumes. A common refrain throughout the week is that AI won’t replace jobs, but people who know how to use it will. By folding some AI basics into our tourism marketing courses, like prompt engineering, personalization of GPTs, and AI organization strategies, we can introduce the next generation of leaders to this technology so they can take it and run with it. This realm provides a variety of case study-based projects where DMO’s could partner with students to begin their AI journeys together.

Igniting Community Pride

We offer several modules in our program that explore the concepts of community-shared values and place branding frameworks, and, in theory, they work great. This fall, I’ll be pushing students to move these concepts further to develop strategies that engage the community and showcase the benefits of tourism. The Little Adventures program from Destin Fort Walton Beach, Florida, along with St. Peterburg’s “From Visitors with Love” campaign, are just two of many examples from the convention that make for impactful case studies connecting theory to practice. Leveraging local colleges to develop and deploy similar projects is a great way to support these valuable efforts that may not directly drive revenue.

Long-Term Strategic Planning

Inspired by the planning process discussed by Minneapolis, Japan, and Richmond, Canada, there is a need to better prepare students for thinking in the long term. Looking at the DNEXT trend data along with the pillars of community engagement, visitor engagement, partner support, and destination development, students can develop mock strategic plans that span 5-10 years for a destination. This type of exercise is a great way to develop a strategic mindset and raise the level of education students are receiving. Looking to higher education institutions as hubs of innovation could create alignment with strategic plans while engaging the student population.

Data-Driven Decision-making

As in all industries, understanding how to collect and interpret data is critical to decision-making. By connecting students to industry-developed survey instruments and data collection and analysis technologies, they can bridge the gap in understanding how DMOs drive community alignment, economic development, and brand strategies. Use college programs to help fuel research. Academics love qualitative and quantitative studies – there is excellent potential for collaboration on community perception studies to advance advocacy efforts.

Our industry is incredibly cool. As we think about workforce development and building a strong pipeline of talent to carry the torch of progress in the DMO space, collaboration with Colleges and Universities is a prime opportunity to explore. These institutions are full of eager students looking to make a difference in their careers, and DMO’s are a perfect place to do it. What better way to learn by doing than collaborating with a DMO to make the destination a better place for all. I encourage you all to reach out to your local institutions to find ways to engage students in your mission. By inspiring students with the tremendous work being done at DMOs across the world, we can redefine what earning a degree in Tourism and Hospitality Management means and inspire the next generation to make a difference in their communities through the power of tourism.

About the Author

Bryan Lavin, DBA

Professor, Johnson and Wales University College of Hospitality Management

Bryan Lavin has been a member of the JWU Faculty for eight years. He teaches in the Department for International Travel and Tourism Studies at the College of Hospitality Management. Bryan’s area of expertise is destination marketing and sales, community development, and sustainable tourism planning. In addition to his scholarly pursuits in the field of tourism, Bryan also serves as the college’s brand manager. He is responsible for the management and execution of an integrated plan to position hospitality management as a dynamic and experiential discipline. 

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From Campus to Career: The Critical Importance of Experiential Learning in Workforce Preparation

From Campus to Career: The Critical Importance of Experiential Learning in Workforce Preparation jhammond@desti… Tue, 09/24/2024 - 16:52

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From the lens of a student, workforce development in tourism relies on mentorship, internships, and real-world experiences. Engaging students early through meaningful industry connections prepares them to contribute actively, building confidence and shaping the future of the travel and tourism workforce.

4 min read

Industry Events Spark Career Vision for Students

Attending Destinations International’s Annual Convention for the first time in Tampa, Florida earlier this summer was both exciting and, to be honest, a bit intimidating. As a student stepping into a room filled with industry leaders and professionals, I couldn’t help but feel a sense of awe, and nerves. These were individuals who had already solidified their careers, shaping the future of destinations and tourism, while I was just beginning to imagine where my path might lead.

Despite the initial butterflies, the more I interacted with these professionals, the more I realized they weren’t just leaders in the industry - they were also mentors and advocates for the next generation. They were eager to share insights, listen to fresh perspectives, and offer advice. Days after the convention ended, I found myself reflecting on those conversations, replaying sessions in my mind, and seeing my future more clearly than ever.

As the days passed, I felt a bittersweet sense of closure because while the convention was over, I had a newfound excitement for what was to come. I kept thinking about my potential career, revisiting the ideas and discussions I’d experienced. These interactions shifted my mindset - I no longer felt like just a student. Watching the next class of 30 under 30, I could imagine myself on that stage one day, contributing to the industry. This realization boosted my confidence and solidified my commitment to pursuing a meaningful role in tourism.


Experience Enables Students to Shape and Commit to the Industry's Future

My experience at the Annual Convention was just one chapter in my broader journey with Destinations International. As a Professional Development intern, I’ve been involved in developing certificate programs, attending meetings with industry leaders, and contributing to event planning and content creation. These hands-on experiences have connected my course work to the real world, making my learning more authentic and relevant.

As I partake in this work, I am gaining confidence, not just in my current role, but also in how my skills align with the future of the industry. As more students like me combine work with academic study, we begin to understand how our contributions can drive industry trends, innovations, and solutions. This balanced approach of connecting practical experience with academics produces well-rounded professionals who are ready to enter the field and also to shape its future.

The travel and tourism industry thrives on adaptability and fresh ideas. Engaging students early ensures the next generation is prepared to embrace changes and push the industry forward. Internships and immersive learning are essential in developing professionals who are confident in their ability to lead in a rapidly evolving industry.


A Student’s Insights on Building the Next-Generation Workforce

From my perspective, building the future workforce is more than just filling roles - it’s about creating opportunities that allow students to fully involve themselves in the industry. DMOs and other industry leaders should focus on establishing personal connections through internships, shadowing, and professional development programs. These experiences create a sense of belonging and purpose, showing students how our work is actually valued. Workforce development isn’t just a marketing campaign - it’s about creating genuine, lasting relationships that inspire growth and passion.

Mentorship is a crucial element in building a successful workforce. Passing on knowledge is important, but sharing enthusiasm for the industry is just as impactful. When mentors invest in students, they don’t just develop our skills - they also create a sense of pride and purpose in our work. Simple engagements, like inviting students to industry events or allowing them to shadow professionals, can make a significant impact. These moments of inclusion provide insight into the industry and help us build connections with professionals who can guide and inspire us.

All in all, creating an environment where students feel valued and invested in is key to shaping the workforce of the future. Both students and industry professionals must be committed to this process. When students feel respected as contributors, we become more confident and motivated to shape our paths within the industry. The more engaged we are, the more we envision ourselves as future leaders, driving the travel and tourism landscape for years to come.

As we work toward building the next generation of tourism professionals, I encourage destination leaders to consider how they can actively support their growth. One impactful way is by sponsoring local students to take part in Destinations International’s upcoming Business Intelligence Certificate program. With courses in Sales, Services, and Marketing and Communications, this program will provide emerging professionals with key skills in business events, such as decision-making, risk mitigation, and strategic planning. By investing in future leaders now with opportunities in professional development, such as the Business Intelligence Certificate, you’re ensuring they have the necessary tools to contribute to this growing and thriving industry.

About the Author

Payten Slack

Professional Development Intern
Destinations International

Payten Slack is a first-generation college student from Orlando, Florida, and a junior at NYU’s School of Professional Studies, majoring in Hospitality, Travel, and Tourism Management with a concentration in Travel and Tourism Development. She is an active member of her school’s community and puts an emphasis on ensuring students are being well-represented on a university-wide level. Payten has gained hands-on experience through her role as a Professional Development intern at Destinations International and is committed to merging academic knowledge with real-world applications to better prepare the future workforce.

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US inflation data this week expected to show core CPI moving sideways - risk ahead higher

A note via Bank of America economists on expectations and wariness on US October CPI data due Wednesday at 8.30 am US Eastern time.

BoA expect core CPI to show an increase of 0.3% m/m month

  • holding at 3.3% y/y
  • would be the third consecutive month with a 3.3% core reading

BoA say that looking ahead, the rise is inflation tilted to the upside:

  • "We see pro-growth fiscal policy, tariffs, and tighter immigration as potential sources of upside inflation risk over the coming years if they are implemented"

Higher inflation to come would slow/halt/reverse (you can pick more than one ;-)) Federal Reserve rate cuts.

This article was written by Eamonn Sheridan at www.forexlive.com.




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PBOC is expected to set the USD/CNY reference rate at 7.1944 – Reuters estimate

People's Bank of China USD/CNY reference rate is due around 0115 GMT.

The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a "band," around a central reference rate, or "midpoint." It's currently at +/- 2%.

How the process works:

  • Daily midpoint setting: Each morning, the PBOC sets a midpoint for the yuan against a basket of currencies, primarily the US dollar. The central bank takes into account factors such as market supply and demand, economic indicators, and international currency market fluctuations. The midpoint serves as a reference point for that day's trading.
  • The trading band: The PBOC allows the yuan to move within a specified range around the midpoint. The trading band is set at +/- 2%, meaning the yuan could appreciate or depreciate by a maximum of 2% from the midpoint during a single trading day. This range is subject to change by the PBOC based on economic conditions and policy objectives.
  • Intervention: If the yuan's value approaches the limit of the trading band or experiences excessive volatility, the PBOC may intervene in the foreign exchange market by buying or selling the yuan to stabilize its value. This helps maintain a controlled and gradual adjustment of the currency's value.

Earlier:

This article was written by Eamonn Sheridan at www.forexlive.com.




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Bank of England / Bank of Finland speakers combine for a panel discussion Tuesday

0900 GMT / 0400 US Eastern time: Olli Rehn, Governor of the Bank of Finland, and Bank of England Chief Economist Huw Pill speak on a panel at a conference organised by UBS in London

As Governor of the Bank of Finland Rehn is a member of the European Central Bank monetary policy board, the Governing Council.

Thus we'll get policy/economy comments relevant for the ECB and BoE for this one.

This article was written by Eamonn Sheridan at www.forexlive.com.




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Prepare for a Wave of Fed Speakers on November 12, 2024

Heads up for a barrage of Fed speakers due Tuesday 12 November 2024:

10:00 AM ET / 1500 GMT

  • Fed's Waller (Governor, Voter) speech (the topic is 'payments')

10:15 AM ET / 1515 GMT

  • Fed's Barkin (Richmond Fed President, non-voter) speech

2:00 PM ET / 1900 GMT

  • Fed's Kashkari (Minneapolis Fed President, non-voter)

5:00 PM ET / 2200 GMT

  • Fed's Harker (Philadelphia Fed President, non-voter) speech

5:30 PM ET / 2230 GMT

  • Fed's Barkin (Richmond Fed President, non-voter) speaks again
This article was written by Eamonn Sheridan at www.forexlive.com.