ไทม์ไลน์ข่าวสาร forex
23:43 AUD/USD rises on USD weakness
The AUD/USD pair holds strong on Thursday as the US Dollar (USD) remains weak. Despite some positive US economic data, including stronger-than-expected Durable Goods Orders, uncertainty around US-China trade talks and the broader tariff situation continues to affect market sentiment.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}The AUD/USD pair trades at 0.6400, up more than 0.50% on Thursday .US President Donald Trump confirmed a trade meeting with China, but no major agreements were reached.Durable Goods Orders rose 9.2% in March, exceeding expectations. Jobless claims increased slightly to 222K.The AUD/USD pair holds strong on Thursday as the US Dollar (USD) remains weak. Despite some positive US economic data, including stronger-than-expected Durable Goods Orders, uncertainty around US-China trade talks and the broader tariff situation continues to affect market sentiment. The pair’s movements reflect the broader uncertainty in global markets.Daily digest market movers: US data is mixed amid ongoing trade tensionsOn the US front, Durable Goods Orders in March surged by 9.2%, exceeding market expectations for a 2% rise. Jobless claims increased slightly, with 222K new filings for the week ending April 19.US-China trade tensions continue to weigh on market sentiment, despite talks.The Federal Reserve’s (Fed) stance remains uncertain, with hopes for a pivot amid ongoing inflation concerns.US economic growth forecasts for 2025/2026 have been lowered due to trade uncertainties.Gold prices rise 1%, supported by weaker US Treasury yields and a cautious outlook for the USD.US equities show mixed reactions to economic data, with some optimism but also resistance near record highs.Investors are weighing the potential for a de-escalation in the US-China trade war.Uncertainty around inflation and potential rate cuts from the Fed continue to influence market movements.The US Dollar remains under pressure as geopolitical tensions and trade risks dominate headlines.
Technical Analysis: AUD/USD shows bullish bias, resistance ahead
The AUD/USD pair is currently trading at 0.6400, up 0.66% for the day. Price action is contained within the day’s range of 0.6344 to 0.6409. The Relative Strength Index (RSI) is neutral at 58.62, while the MACD is generating a buy signal. The Commodity Channel Index (CCI) at 76.33 and Bull Bear Power at 0.0085 indicate neutral conditions. Short-term moving averages, including the 10-day EMA at 0.6348 and 10-day SMA at 0.6364, reinforce the bullish outlook. However, the 200-day SMA at 0.6470 presents resistance. Key support levels are at 0.6385, 0.6364, and 0.6348, while resistance is found at 0.6412 and 0.6470. The pair is poised for further upside, but resistance levels remain a critical factor to monitor.
Australian Dollar FAQs What key factors drive the Australian Dollar? One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – is also a factor, with risk-on positive for AUD. How do the decisions of the Reserve Bank of Australia impact the Australian Dollar? The Reserve Bank of Australia (RBA) influences the Australian Dollar (AUD) by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down. Relatively high interest rates compared to other major central banks support the AUD, and the opposite for relatively low. The RBA can also use quantitative easing and tightening to influence credit conditions, with the former AUD-negative and the latter AUD-positive. How does the health of the Chinese Economy impact the Australian Dollar? China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar (AUD). When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected. Positive or negative surprises in Chinese growth data, therefore, often have a direct impact on the Australian Dollar and its pairs. How does the price of Iron Ore impact the Australian Dollar? Iron Ore is Australia’s largest export, accounting for $118 billion a year according to data from 2021, with China as its primary destination. The price of Iron Ore, therefore, can be a driver of the Australian Dollar. Generally, if the price of Iron Ore rises, AUD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Iron Ore falls. Higher Iron Ore prices also tend to result in a greater likelihood of a positive Trade Balance for Australia, which is also positive of the AUD. How does the Trade Balance impact the Australian Dollar? The Trade Balance, which is the difference between what a country earns from its exports versus what it pays for its imports, is another factor that can influence the value of the Australian Dollar. If Australia produces highly sought after exports, then its currency will gain in value purely from the surplus demand created from foreign buyers seeking to purchase its exports versus what it spends to purchase imports. Therefore, a positive net Trade Balance strengthens the AUD, with the opposite effect if the Trade Balance is negative.
Technical Analysis: AUD/USD shows bullish bias, resistance ahead
The AUD/USD pair is currently trading at 0.6400, up 0.66% for the day. Price action is contained within the day’s range of 0.6344 to 0.6409. The Relative Strength Index (RSI) is neutral at 58.62, while the MACD is generating a buy signal. The Commodity Channel Index (CCI) at 76.33 and Bull Bear Power at 0.0085 indicate neutral conditions. Short-term moving averages, including the 10-day EMA at 0.6348 and 10-day SMA at 0.6364, reinforce the bullish outlook. However, the 200-day SMA at 0.6470 presents resistance. Key support levels are at 0.6385, 0.6364, and 0.6348, while resistance is found at 0.6412 and 0.6470. The pair is poised for further upside, but resistance levels remain a critical factor to monitor.
Australian Dollar FAQs What key factors drive the Australian Dollar? One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – is also a factor, with risk-on positive for AUD. How do the decisions of the Reserve Bank of Australia impact the Australian Dollar? The Reserve Bank of Australia (RBA) influences the Australian Dollar (AUD) by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down. Relatively high interest rates compared to other major central banks support the AUD, and the opposite for relatively low. The RBA can also use quantitative easing and tightening to influence credit conditions, with the former AUD-negative and the latter AUD-positive. How does the health of the Chinese Economy impact the Australian Dollar? China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar (AUD). When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected. Positive or negative surprises in Chinese growth data, therefore, often have a direct impact on the Australian Dollar and its pairs. How does the price of Iron Ore impact the Australian Dollar? Iron Ore is Australia’s largest export, accounting for $118 billion a year according to data from 2021, with China as its primary destination. The price of Iron Ore, therefore, can be a driver of the Australian Dollar. Generally, if the price of Iron Ore rises, AUD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Iron Ore falls. Higher Iron Ore prices also tend to result in a greater likelihood of a positive Trade Balance for Australia, which is also positive of the AUD. How does the Trade Balance impact the Australian Dollar? The Trade Balance, which is the difference between what a country earns from its exports versus what it pays for its imports, is another factor that can influence the value of the Australian Dollar. If Australia produces highly sought after exports, then its currency will gain in value purely from the surplus demand created from foreign buyers seeking to purchase its exports versus what it spends to purchase imports. Therefore, a positive net Trade Balance strengthens the AUD, with the opposite effect if the Trade Balance is negative.
23:30 USD/JPY slips as Fed cut hopes rise and tariff confusion grows
The USD/JPY pair moved lower during Thursday’s European session, retreating toward the 143.00 zone after two days of modest recovery. The shift comes amid renewed US Dollar weakness as Fed rate cut speculation resurfaces and trade headlines stir market uncertainty.
USD/JPY trades around the 143.00 zone, reversing earlier gains in Thursday’s session.Fed rate cut hopes and record-high US tariffs on China weigh on sentiment.Resistance is seen near 143.05 and 145.10, with support at 142.45 and 142.26.The USD/JPY pair moved lower during Thursday’s European session, retreating toward the 143.00 zone after two days of modest recovery. The shift comes amid renewed US Dollar weakness as Fed rate cut speculation resurfaces and trade headlines stir market uncertainty. With risk sentiment modestly improved and US equities pushing higher—boosted by upbeat Durable Goods data and Trump’s trade optimism—the Japanese Yen continues to outperform most G10 peers, supported by a pullback in US yields and ongoing safe-haven demand.
Markets entered Thursday’s session with a cautiously positive tone, sparked by US President Donald Trump’s comments on striking a deal with China and softening his stance on tariffs. Though US Treasury Secretary Scott Bessent later clarified that no formal offer had been made to China, he acknowledged that current tariff levels were likely unsustainable. On the data front, headline US Durable Goods Orders for March surged 10.4%, but the core reading excluding transportation fell flat at 0.0%, painting a mixed economic picture.
Meanwhile, weekly Initial Jobless Claims ticked up slightly to 222K, suggesting minor softening in the US labor market. Fed Governor Beth Hammack emphasized patience in monetary policy, stating the Fed may act by June if data justifies it. These dovish tones, alongside persistent political and fiscal headwinds, have dragged the US Dollar Index (DXY) back below 99.50, limiting any rebound in USD/JPY.In Japan, attention is turning to next week’s visit by Economy Minister Ryosei Akazawa to Washington for renewed tariff negotiations. Prior discussions with the US were reportedly unfavorable for Japan, particularly regarding automobile and steel tariffs. Despite this, the Bank of Japan remains one of the few G10 central banks maintaining a hawkish outlook, providing longer-term support for the Yen.
Technical outlook
From a technical standpoint, USD/JPY is flashing bearish signals. The Relative Strength Index (RSI) sits in neutral territory near 39, while the Moving Average Convergence Divergence (MACD) continues to issue a sell signal. Additional neutral readings come from the Williams %R and Bull Bear Power indicators, suggesting limited conviction on intraday direction.The broader trend bias remains bearish, as the 20-day, 100-day, and 200-day Simple Moving Averages all slope downward. Shorter-term Exponential Moving Averages (10-day at 143.05 and 30-day at 145.70) further cap upside attempts.Immediate resistance is seen at 143.05, with further hurdles at 144.53 and 145.10. On the downside, support levels are aligned near 142.45 and 142.26. A decisive break below these could open a path toward the 141.00 handle.Unless the USD sees renewed demand or tariffs talks provide a lasting catalyst, the path of least resistance for USD/JPY may remain tilted downward.
Markets entered Thursday’s session with a cautiously positive tone, sparked by US President Donald Trump’s comments on striking a deal with China and softening his stance on tariffs. Though US Treasury Secretary Scott Bessent later clarified that no formal offer had been made to China, he acknowledged that current tariff levels were likely unsustainable. On the data front, headline US Durable Goods Orders for March surged 10.4%, but the core reading excluding transportation fell flat at 0.0%, painting a mixed economic picture.
Meanwhile, weekly Initial Jobless Claims ticked up slightly to 222K, suggesting minor softening in the US labor market. Fed Governor Beth Hammack emphasized patience in monetary policy, stating the Fed may act by June if data justifies it. These dovish tones, alongside persistent political and fiscal headwinds, have dragged the US Dollar Index (DXY) back below 99.50, limiting any rebound in USD/JPY.In Japan, attention is turning to next week’s visit by Economy Minister Ryosei Akazawa to Washington for renewed tariff negotiations. Prior discussions with the US were reportedly unfavorable for Japan, particularly regarding automobile and steel tariffs. Despite this, the Bank of Japan remains one of the few G10 central banks maintaining a hawkish outlook, providing longer-term support for the Yen.
Technical outlook
From a technical standpoint, USD/JPY is flashing bearish signals. The Relative Strength Index (RSI) sits in neutral territory near 39, while the Moving Average Convergence Divergence (MACD) continues to issue a sell signal. Additional neutral readings come from the Williams %R and Bull Bear Power indicators, suggesting limited conviction on intraday direction.The broader trend bias remains bearish, as the 20-day, 100-day, and 200-day Simple Moving Averages all slope downward. Shorter-term Exponential Moving Averages (10-day at 143.05 and 30-day at 145.70) further cap upside attempts.Immediate resistance is seen at 143.05, with further hurdles at 144.53 and 145.10. On the downside, support levels are aligned near 142.45 and 142.26. A decisive break below these could open a path toward the 141.00 handle.Unless the USD sees renewed demand or tariffs talks provide a lasting catalyst, the path of least resistance for USD/JPY may remain tilted downward.
22:10 Gold price surges past $3,300 on trade jitters, yield slump reviving haven demand
Gold price snapped two days of losses on Thursday and rose $50, or more than 1.50%, amid renewed concerns about the US-China trade war.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}Gold snaps two-day losing streak, gaining 1.5% on fresh trade war fears.Trump softens tariff talk, but China denies negotiations and demands full rollback.Fed rate cut bets rise as yields drop and economic uncertainty builds.Gold price snapped two days of losses on Thursday and rose $50, or more than 1.50%, amid renewed concerns about the US-China trade war. Even though US President Donald Trump softened his stance on sticking to 145% tariffs on Beijing, the XAU/USD trades at $3,338 after jumping off daily lows of $3,287.Market mood remains upbeat with Wall Street posting gains. Although traders seem relieved by Trump’s willingness to reach a deal with Beijing, China plays hardball and asks to cancel all “unilateral” US tariffs, clarifying that they have not held talks with the US government.Bullion prices advance underpinned by the plunge in US Treasury bond yields. The US Dollar Index (DXY) is also feeling the pain after hitting four-day peaks against a basket of six currencies.US economic data witnessed the release of Initial Jobless Claims for the last week, which was aligned with estimates. Durable Goods Orders jumped sharply in March, sponsored by airplane orders.Meanwhile, a wave of Federal Reserve (Fed) officials grabbed the headlines. Cleveland Fed President Beth Hammack stated the Fed could act as soon as June if the data supports it but emphasized that uncertainty is weighing on business planning.Fed Governor Christopher Waller echoed a similar tone, noting that while action in June remains on the table, rate cuts may be driven by a weakening labor market. Waller said, “rate cuts could come from rising unemployment.”Regarding the chances of the Fed reducing interest rates at the upcoming meeting, traders see a 94% chance of keeping them unchanged, according to Prime Market Terminal. Nevertheless, traders expect the Fed funds rate to end at 3.45%, equal to 86 basis points of easing (bps).Source: Prime Market TerminalDaily digest market movers: Gold price climbs boosted by weak US DollarThe yield on the US 10-year Treasury note has decreased by seven-and-a-half basis points, reaching 4.31%.US real yields collapsed seven bps to 2.023%, as shown by the US 10-year Treasury Inflation-Protected Securities yields.US Durable Goods Orders soared in March from 0.9% to 9.2%, sponsored by aircraft bookings. Initial Jobless Claims for the week ending April 19 rose by 222K as expected, up from 216K in the previous reading.XAU/USD technical outlook: Gold price uptrend resumes as buyers reclaim $3,300The Gold price uptrend resumed, yet buyers must clear the April 22 high of $3,386 to prevent sellers from dragging lower prices. The next key resistance level would be $3,400, followed by the $3,450 and the $3,500 figure.On the other hand, if XAU/USD tumbles below $3,300, this could open the door to test $3,200 ahead of the April 3 peak of $3,167. A breach of the latter will expose the 50-day Simple Moving Average (SMA) at $3,041. Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets? Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on? The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
22:06 Forex Today: Spotlight turns to Britain’s consumption trends
The renewed selling pressure prompted the Greenback to set aside two daily advances in a row on Thursday as investors remained apathetic regarding any real progress on the US-China trade tensions.
The renewed selling pressure prompted the Greenback to set aside two daily advances in a row on Thursday as investors remained apathetic regarding any real progress on the US-China trade tensions.Here is what you need to know on Friday, April 25:
The US Dollar Index (DXY) traded on the defensive and receded to the low-99.00s amid the widespread retracement in US yields across different time frames. The final Michigan Consumer Sentiment print will close the US docket.
EUR/USD saw its buying bias revitalised following the recent test of the 1.1300 neighbourhood. The ECB will release its Consumer Inflation Expectations survey, while member Buch is also due to speak.
GBP/USD regained composure, leaving behind two straight daily declines and reclaiming the area above 1.3300 the figure. Retail Sales will take centre stage, seconded by the GfK’s Consumer Confidence measure.
USD/JPY faced the resurgence of the downside pressure and eased from recent peaks north of the 143.00 barrier. The Tokyo’s Inflation Rate is next on tap on the Japanese calendar.
AUD/USD managed to pick up pace and leave behind part of the recent pullback, coming in close to the key hurdle at 0.6400. Next release of note in Oz will be the quarterly Inflation Rate and the RBA’s Monthly CPI Indicator on April 30.
WTI prices recouped part of Wednesday’s pullback and revisited the area beyond the $63.00 mark per barrel on renewed tariff concerns.
Gold prices reversed course and clocked decent gains, retesting the $3,370 zone per troy ounce on the back of bargain hunting mood and tariff uncertainty. Silver prices could not sustain Wednesday’s strong rebound, coming under renewed pressure and approaching the $33.00 mark per ounce.
21:21 US Dollar slips as recession fears and tariff confusion weigh on sentiment
The US Dollar (USD) retreats on Thursday as a cocktail of mixed economic data, dovish Federal Reserve (Fed) signals, and murky US-China tariff messaging unsettles market sentiment.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}The US Dollar Index trades near the 99.40 zone after reversing earlier gains during Thursday’s session.Traders digest softer unemployment data, Durable Goods surprises, and mixed trade signals from Trump and Bessent.DXY remains under pressure below moving averages, with resistance at 100.00 and support around 99.33.The US Dollar (USD) retreats on Thursday as a cocktail of mixed economic data, dovish Federal Reserve (Fed) signals, and murky US-China tariff messaging unsettles market sentiment. After testing highs near 100.00 early in the day, the US Dollar Index (DXY) reversed course and was last seen drifting around 99.41, down 0.37%.Investors recalibrated expectations after US President Donald Trump and Treasury Secretary Scott Bessent pushed back against claims of a unilateral tariff cut on Chinese goods. While Trump hinted at potential tariff relief if talks progress, Chinese officials reiterated that no negotiations were currently underway, demanding the removal of reciprocal tariffs before dialogue resumes.Fed officials added further intrigue. Cleveland Fed President Beth Hammack stressed caution but acknowledged the potential for rate adjustments as early as June. Meanwhile, Governor Christopher Waller warned that firms remain paralyzed by tariff-induced uncertainty, hinting at broader economic spillovers.Daily digest market movers: US data is getting muddyDurable Goods Orders surprised with a 9.2% surge, driven by airplane orders, though core orders remained flat.Initial jobless claims rose to 222K; continuing claims dropped to 1.841M, adding mixed labor signals.Trump and Bessent reiterated that no unilateral tariff cuts are on the table, with China demanding full tariff removals before talks.Fed officials opened the door to rate cuts in June if recession signals intensify, fanning investor hopes for easing.US stocks initially surged on optimism before trimming gains; Gold remains elevated above $3,300 as yields fall.Technical Analysis: DXY slips as momentum fades below 100.00
Technically, the US Dollar Index (DXY) continues to flash bearish signals while hovering around 99.41 in Thursday’s session. Price action remains confined between 99.24 and 99.84 as traders await clearer catalysts. The Relative Strength Index (RSI) stands at 34.62, suggesting neutral momentum, while the Moving Average Convergence Divergence (MACD) maintains a sell signal, reflecting underlying weakness.Both the Bull Bear Power indicator at −1.63 and the Awesome Oscillator at −3.31 also indicate waning conviction. A deeper look at trend signals reveals a firm bearish setup: the 10-day Exponential Moving Average (EMA) at 100.01 and Simple Moving Average (SMA) at 99.63, alongside the 20, 100, and 200-day SMAs at 101.54, 105.85, and 104.56, respectively, all lean bearish.Immediate support is noted at 99.34, while resistance is capped at 99.63. A breakout above 100.01 would be needed to reestablish a bullish bias, with the next upside target at 101.10. Until then, the path of least resistance remains to the downside, particularly if trade uncertainty and softening macro data persist.
US Dollar FAQs What is the US Dollar? The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away. How do the decisions of the Federal Reserve impact the US Dollar? The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback. What is Quantitative Easing and how does it influence the US Dollar? In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar. What is Quantitative Tightening and how does it influence the US Dollar? Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.
Technically, the US Dollar Index (DXY) continues to flash bearish signals while hovering around 99.41 in Thursday’s session. Price action remains confined between 99.24 and 99.84 as traders await clearer catalysts. The Relative Strength Index (RSI) stands at 34.62, suggesting neutral momentum, while the Moving Average Convergence Divergence (MACD) maintains a sell signal, reflecting underlying weakness.Both the Bull Bear Power indicator at −1.63 and the Awesome Oscillator at −3.31 also indicate waning conviction. A deeper look at trend signals reveals a firm bearish setup: the 10-day Exponential Moving Average (EMA) at 100.01 and Simple Moving Average (SMA) at 99.63, alongside the 20, 100, and 200-day SMAs at 101.54, 105.85, and 104.56, respectively, all lean bearish.Immediate support is noted at 99.34, while resistance is capped at 99.63. A breakout above 100.01 would be needed to reestablish a bullish bias, with the next upside target at 101.10. Until then, the path of least resistance remains to the downside, particularly if trade uncertainty and softening macro data persist.
US Dollar FAQs What is the US Dollar? The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away. How do the decisions of the Federal Reserve impact the US Dollar? The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback. What is Quantitative Easing and how does it influence the US Dollar? In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar. What is Quantitative Tightening and how does it influence the US Dollar? Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.
20:10 Dow Jones soars toward 40,000 on Fed rate cut bets, China’s optimism
The Dow Jones Industrial Average (DJIA) registered gains of over 0.62% as investors became optimistic that the Federal Reserve (Fed) could cut interest rates at its June meeting amid growing concerns of a recession in the United States (US).
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}DJIA gains 0.62% as traders price in June Fed rate cut chances.Trump’s softened tone on China trade spurs risk-on rally near 40,000.Gold climbs above $3,300 as yields slump despite stronger US data.The Dow Jones Industrial Average (DJIA) registered gains of over 0.62% as investors became optimistic that the Federal Reserve (Fed) could cut interest rates at its June meeting amid growing concerns of a recession in the United States (US). This, along with an improvement in risk appetite due to the US willingness to strike a deal with China, drove the DJIA near the 40,000 mark after bouncing off daily lows of 39,200.Fed pivot hopes and hints of US-China trade thaw lift Wall Street, though resistance looms near record highsOn Wednesday, US President Donald Trump adopted a moderate stance on China toward trade talks in Beijing and even talked about reducing levies on its products, a sign of openness towards reaching a deal. Nevertheless, US Treasury Secretary Scott Bessent said, “No unilateral offer from Trump to cut China tariffs.”During the overnight session for North American traders, Chinese Ministry of Commerce spokesperson He Yadong said there were no trade talks with the US and called for the cancellation of “unilateral” tariffs.US economic data lifted the market mood as the jobs market witnessed a report aligned with forecasts, while Durable Goods Orders jumped sharply in March, sponsored by airplane orders.An improvement in market mood failed to weigh on Gold prices, with the precious metal back above $3,300, up 1%, underpinned by failing US Treasury yields as the 10-year T-note coupon plunges seven and a half basis points to 4.309%.Dow Jones price forecastDow’s downtrend remains in place, but buyers are gathering some steam. Recently, US President Donald Trump said they held talks with China in mourning, sparking a jump in the DJIA, which hit a daily high at 40,002.If buyers push the Dow past 40,500, this could pave the way to challenging last week’s peak at 40,790. Key resistance lies ahead at 41,000. Conversely, if sellers drive the index below April 23’s low of 39,486, look for a test of April 22’s high of 39,271 to close the gap up witnessed between April 22 and 23. Dow Jones FAQs What is the Dow Jones? The Dow Jones Industrial Average, one of the oldest stock market indices in the world, is compiled of the 30 most traded stocks in the US. The index is price-weighted rather than weighted by capitalization. It is calculated by summing the prices of the constituent stocks and dividing them by a factor, currently 0.152. The index was founded by Charles Dow, who also founded the Wall Street Journal. In later years it has been criticized for not being broadly representative enough because it only tracks 30 conglomerates, unlike broader indices such as the S&P 500. What factors impact the Dow Jones Industrial Average? Many different factors drive the Dow Jones Industrial Average (DJIA). The aggregate performance of the component companies revealed in quarterly company earnings reports is the main one. US and global macroeconomic data also contributes as it impacts on investor sentiment. The level of interest rates, set by the Federal Reserve (Fed), also influences the DJIA as it affects the cost of credit, on which many corporations are heavily reliant. Therefore, inflation can be a major driver as well as other metrics which impact the Fed decisions. What is Dow Theory? Dow Theory is a method for identifying the primary trend of the stock market developed by Charles Dow. A key step is to compare the direction of the Dow Jones Industrial Average (DJIA) and the Dow Jones Transportation Average (DJTA) and only follow trends where both are moving in the same direction. Volume is a confirmatory criteria. The theory uses elements of peak and trough analysis. Dow’s theory posits three trend phases: accumulation, when smart money starts buying or selling; public participation, when the wider public joins in; and distribution, when the smart money exits. How can I trade the DJIA? There are a number of ways to trade the DJIA. One is to use ETFs which allow investors to trade the DJIA as a single security, rather than having to buy shares in all 30 constituent companies. A leading example is the SPDR Dow Jones Industrial Average ETF (DIA). DJIA futures contracts enable traders to speculate on the future value of the index and Options provide the right, but not the obligation, to buy or sell the index at a predetermined price in the future. Mutual funds enable investors to buy a share of a diversified portfolio of DJIA stocks thus providing exposure to the overall index.
20:03 United States 7-Year Note Auction down to 4.123% from previous 4.233%
United States 7-Year Note Auction down to 4.123% from previous 4.233%
19:39 US President Trump: Confirms an early meeting with China
On Thursday, US President Donald Trump held a press conference as he welcomed Norway Prime Minister Jonas Gahr Støre and answered some questions.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
On Thursday, US President Donald Trump held a press conference as he welcomed Norway Prime Minister Jonas Gahr Støre and answered some questions.Trump said that Ukraine and Russia must come to the table to reach a peace deal. He added that the NATO alliance is very important for Europe and that without the US, it would be less powerful. He added that he would be talking about trade and other things with Norway.President Trump added that there was a meeting with China this morning.Market’s reactionUS equities spiked on China’s headline, indicating that investors seem confident both countries could reach a deal. US-China Trade War FAQs What does “trade war” mean? Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade barriers, such as tariffs, which result in counter-barriers, escalating import costs, and hence the cost of living. What is the US-China trade war? An economic conflict between the United States (US) and China began early in 2018, when President Donald Trump set trade barriers on China, claiming unfair commercial practices and intellectual property theft from the Asian giant. China took retaliatory action, imposing tariffs on multiple US goods, such as automobiles and soybeans. Tensions escalated until the two countries signed the US-China Phase One trade deal in January 2020. The agreement required structural reforms and other changes to China’s economic and trade regime and pretended to restore stability and trust between the two nations. However, the Coronavirus pandemic took the focus out of the conflict. Yet, it is worth mentioning that President Joe Biden, who took office after Trump, kept tariffs in place and even added some additional levies. Trade war 2.0 The return of Donald Trump to the White House as the 47th US President has sparked a fresh wave of tensions between the two countries. During the 2024 election campaign, Trump pledged to impose 60% tariffs on China once he returned to office, which he did on January 20, 2025. With Trump back, the US-China trade war is meant to resume where it was left, with tit-for-tat policies affecting the global economic landscape amid disruptions in global supply chains, resulting in a reduction in spending, particularly investment, and directly feeding into the Consumer Price Index inflation.
19:39 USD/CAD steady as US Dollar dips on tariff unease and mixed data
The USD/CAD pair was seen hovering around the 1.3900 zone on Thursday, mildly lower on the day, as the US Dollar (USD) struggles to maintain momentum amid renewed tariff uncertainty and conflicting US economic signals.
USD/CAD trades near the 1.3900 zone amid ongoing Greenback weakness.Fed officials highlight tariff-driven risks, while Durable Goods data sends mixed signals.Key resistance is clustered near 1.3905 and 1.4000, with support at 1.3865 and 1.3848.The USD/CAD pair was seen hovering around the 1.3900 zone on Thursday, mildly lower on the day, as the US Dollar (USD) struggles to maintain momentum amid renewed tariff uncertainty and conflicting US economic signals. Despite a stronger-than-expected headline Durable Goods report, underlying data fell flat, reinforcing caution among investors. Canadian Dollar (CAD) sentiment, meanwhile, remains stable but lacks the upside strength shown by other major currencies, as the pair stays within a narrow consolidation band established earlier in the week.Federal Reserve (Fed) Governor Christopher Waller struck a cautious tone on Thursday, suggesting that tariffs could distort labor market dynamics and weigh on corporate hiring decisions. He emphasized that many firms remain frozen by policy uncertainty and warned that rate cuts could eventually follow if unemployment begins to rise. Meanwhile, Cleveland Fed President Beth Hammack echoed the call for patience, hinting at possible adjustments as soon as June if economic conditions warrant.In terms of economic data, US Durable Goods Orders surged 9.2% in March, far exceeding expectations. However, the core figure excluding transportation came in flat, tempering enthusiasm. Separately, Initial Jobless Claims ticked up to 222K, reflecting a slight softening in labor market conditions. Despite the data-driven bump, USD sentiment was mostly overshadowed by the ongoing debate around trade policy. President Trump and Treasury Secretary Bessent reiterated that no concessions had been made to China on tariffs, underscoring the lack of progress in negotiations and weighing on the DXY, which drifted near 99.30.
Technical outlook
From a technical perspective, USD/CAD maintains a bearish tone. The Relative Strength Index (RSI) sits in neutral territory around 37 recovering from oversold conditions, while the Moving Average Convergence Divergence (MACD) continues to point lower. Momentum offers a slight counterweight with a mild buy signal, though the Stochastic %K remains subdued near oversold levels.Trend-following indicators reinforce the downside bias. The 20-day, 100-day, and 200-day Simple Moving Averages, along with the 10-day and 30-day Exponential Moving Averages, are all sloping downward, capping upside attempts. Resistance is noted at 1.3905, followed by the 1.4002–1.4009 area, while support lies at 1.3865 and 1.3848. A clear break below this range could expose the pair to further downside, targeting the 1.3745 region next.In summary, unless clearer progress emerges on trade talks or macro data significantly shifts expectations, USD/CAD may continue to drift within its current range, with risks tilted to the downside.
Daily chart
Technical outlook
From a technical perspective, USD/CAD maintains a bearish tone. The Relative Strength Index (RSI) sits in neutral territory around 37 recovering from oversold conditions, while the Moving Average Convergence Divergence (MACD) continues to point lower. Momentum offers a slight counterweight with a mild buy signal, though the Stochastic %K remains subdued near oversold levels.Trend-following indicators reinforce the downside bias. The 20-day, 100-day, and 200-day Simple Moving Averages, along with the 10-day and 30-day Exponential Moving Averages, are all sloping downward, capping upside attempts. Resistance is noted at 1.3905, followed by the 1.4002–1.4009 area, while support lies at 1.3865 and 1.3848. A clear break below this range could expose the pair to further downside, targeting the 1.3745 region next.In summary, unless clearer progress emerges on trade talks or macro data significantly shifts expectations, USD/CAD may continue to drift within its current range, with risks tilted to the downside.
Daily chart
19:11 EUR/GBP Price Analysis: Bulls hold ground despite mixed signals post-European session
The EURGBP pair moved steadily near the 0.8550 zone on Thursday, holding onto slight intraday gains following the European session.
EURGBP trades near the 0.8550 zone, holding modest daily gains after Thursday’s European session.Bullish momentum is underpinned by positive signals from key moving averages despite mixed indicators.Support rests near 0.8525–0.8527; resistance capped by the 0.8550–0.8560 region.The EURGBP pair moved steadily near the 0.8550 zone on Thursday, holding onto slight intraday gains following the European session. The broader context remains dominated by Fed-related headlines, with investors reacting to cautious remarks from Governor Waller regarding tariffs and their economic implications. Meanwhile, US Dollar weakness following Trump and Bessent’s conflicting tariff messaging helped lift the euro modestly, though not without hesitation.From a technical standpoint, EURGBP is flashing a bullish overall signal despite intraday consolidation. The pair is navigating the mid-range of 0.8534 to 0.8565, with the Relative Strength Index (RSI) at approximately 54 and signaling neutral momentum. The MACD is still flashing a mild sell signal, yet this is contrasted by slight buying pressure from Bull Bear Power. The Average Directional Index (ADX) remains below the trending threshold, confirming a lack of directional strength.However, a key element of support for the bullish case lies in the moving averages. The 20-day, 100-day, and 200-day simple moving averages at 0.8525, 0.8374, and 0.8388 respectively are aligned to the upside. Similarly, the 30-day exponential and simple moving averages — at 0.8495 and 0.8475 — reinforce upward structure.Daily chart
18:38 GBP/USD rebounds past 1.3300 as US-China tensions rattle US Dollar
The Pound Sterling recovered some ground versus the US Dollar on Thursday as market participants grew pessimistic about de-escalating the US-China trade war. Beijing is pressuring Washington to eliminate tariffs and has denied talks.
.fxs-major-currency-prices-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-major-currency-prices-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-major-currency-prices-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:8px 16px}table.fxs-major-currency-prices-currency-prices-table{width:100%;text-align:center;border-collapse:collapse;font-size:1rem}table.fxs-major-currency-prices-currency-prices-table th{background-color:#f2f2f2}table.fxs-major-currency-prices-currency-prices-table td{color:#fff}table.fxs-major-currency-prices-currency-prices-table td.green{background-color:#9cd6cd}table.fxs-major-currency-prices-currency-prices-table td.red{background-color:#faafb5}table.fxs-major-currency-prices-currency-prices-table td.blue-grey{background-color:#888a93}.fxs-major-currency-prices-currency-prices-legend{font-size:11px;margin:8px;color:#49494f}@media (min-width:680px){.fxs-major-currency-prices-content{font-size:16px;line-height:21.6px}.fxs-major-currency-prices-title{font-size:19.2px;line-height:27.2px}}.fxs-major-currency-prices-currency-price td.dark-green{background-color:#39ad9a}.fxs-major-currency-prices-currency-price td.light-green{background-color:#9cd6cd}.fxs-major-currency-prices-currency-price td.gray{background-color:#888a93}.fxs-major-currency-prices-currency-price td.light-red{background-color:#faafb5}.fxs-major-currency-prices-currency-price td.strong-red{background-color:#f55e6a}GBP/USD gains 0.55% as investors sell USD amid trade uncertainty.China demands full tariff rollback; US officials push back on compromise.DXY drops to 99.45 as Fed officials strike a cautious, data-dependent tone.The Pound Sterling recovered some ground versus the US Dollar on Thursday as market participants grew pessimistic about de-escalating the US-China trade war. Beijing is pressuring Washington to eliminate tariffs and has denied talks. At the time of writing, the GBP/USD trades above 1.3300 and gains 0.55%.GBP/USD climbs above 1.3300 as tariff standoff dents risk sentiment and weakens the US Dollar broadlyPrice action remains dominated by the Greenback, which tumbled 0.32% as depicted by the US Dollar Index (DXY), which tracks the buck’s performance against a basket of peers. The DXY is at 99.45 after hitting a daily peak of 99.84.On Thursday, China’s Commerce Ministry spokesman urged the US to lift all duties on Chinese imports “if it really wants to solve the problem.”Although US President Donald Trump was willing to begin negotiations, US Treasury Secretary Scott Bessent poured cold water on traders, saying that reducing tariffs unilaterally is not an option.On the data front, US Durable Goods Orders soared in March from 0.9% to 9.2% sponsored by aircraft bookings. Initial Jobless Claims for the week ending April 19 rose by 222K as expected, up from 216K in the previous reading.A myriad of Fed speakers is crossing the wires. Cleveland’s Fed Beth Hammack said the US central bank could move in June if data warrants it, though she added that uncertainty is weighing on businesses and their planning. Fed Governor Christopher Waller echoed her words, though added that if the labor market weakens, “rate cuts could come from rising unemployment.”Other data revealed that Existing Home Sales plunged -5.9% from 4.27 million to 4.02 million, impacted by higher borrowing costs.GBP/USD Price Forecast: Technical outlookAmid this backdrop, the GBP/USD is poised to extend its gains, though failure to reach a daily closing above Wednesday’s peak of 1.3338 could sponsor a pullback toward the 50-day Simple Moving Average (SMA) at 1.3194.However if buyers push the exchange rate past 1.3350, it will expose the 1.3400 figure, followed by the year-to-date (YTD) high of 1.3423.
British Pound PRICE This week The table below shows the percentage change of British Pound (GBP) against listed major currencies this week. British Pound was the strongest against the Swiss Franc. USD EUR GBP JPY CAD AUD NZD CHF USD 0.26% -0.05% 0.36% 0.26% -0.23% -0.94% 1.29% EUR -0.26% -0.47% 0.05% -0.05% -0.67% -1.23% 1.01% GBP 0.05% 0.47% 0.70% 0.43% -0.22% -0.77% 1.48% JPY -0.36% -0.05% -0.70% -0.08% -0.68% -1.15% 0.98% CAD -0.26% 0.05% -0.43% 0.08% -0.60% -1.18% 1.05% AUD 0.23% 0.67% 0.22% 0.68% 0.60% -0.54% 1.68% NZD 0.94% 1.23% 0.77% 1.15% 1.18% 0.54% 2.29% CHF -1.29% -1.01% -1.48% -0.98% -1.05% -1.68% -2.29% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
British Pound PRICE This week The table below shows the percentage change of British Pound (GBP) against listed major currencies this week. British Pound was the strongest against the Swiss Franc. USD EUR GBP JPY CAD AUD NZD CHF USD 0.26% -0.05% 0.36% 0.26% -0.23% -0.94% 1.29% EUR -0.26% -0.47% 0.05% -0.05% -0.67% -1.23% 1.01% GBP 0.05% 0.47% 0.70% 0.43% -0.22% -0.77% 1.48% JPY -0.36% -0.05% -0.70% -0.08% -0.68% -1.15% 0.98% CAD -0.26% 0.05% -0.43% 0.08% -0.60% -1.18% 1.05% AUD 0.23% 0.67% 0.22% 0.68% 0.60% -0.54% 1.68% NZD 0.94% 1.23% 0.77% 1.15% 1.18% 0.54% 2.29% CHF -1.29% -1.01% -1.48% -0.98% -1.05% -1.68% -2.29% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
18:37 EUR/USD Price Analysis: Pair climbs toward mid-1.1300s, bullish bias holds steady
The EURUSD pair gained ground following Thursday’s European session, moving near the 1.1350 area within a relatively narrow daily range. The upward move builds on recent strength, keeping the pair comfortably within bullish territory for now.
EUR/USD trades near the 1.1350 zone after advancing during Thursday’s session.Momentum indicators remain mixed, but moving averages confirm the bullish trend.Support seen at 1.1320 and 1.1195; resistance stands near 1.1375 and 1.1390.The EURUSD pair gained ground following Thursday’s European session, moving near the 1.1350 area within a relatively narrow daily range. The upward move builds on recent strength, keeping the pair comfortably within bullish territory for now.Technically, the Relative Strength Index is tracking near 63, offering a neutral-to-bullish stance, while the MACD indicator maintains a buy signal, hinting at continued upward momentum. Meanwhile, the Ultimate Oscillator and Stochastic oscillator are both neutral, suggesting limited short-term conviction.The broader trend remains tilted to the upside, as evidenced by the alignment of key moving averages. The 20-day, 100-day, and 200-day simple moving averages—positioned at 1.1150, 1.0630, and 1.0765 respectively—are all trending higher. This bullish setup is further supported by the 10-day exponential moving average at 1.1320 and the 30-day EMA at 1.1090.Looking ahead, immediate support is located at 1.1320, followed by 1.1195 and 1.1158. On the upside, resistance levels are seen at 1.1375 and 1.1390. A sustained move above these thresholds could open the door for further upside exploration.Daily chart
18:34 ECB: Considering faster response to price shocks
Bloomberg News reported on Thursday that the European Central Bank (ECB) is preparing to revise its monetary-policy framework to allow for more agile responses to price shocks amid mounting global volatility.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
Bloomberg News reported on Thursday that the European Central Bank (ECB) is preparing to revise its monetary-policy framework to allow for more agile responses to price shocks amid mounting global volatility.According to the report, Governing Council (GC) members will explore this potential shift during an informal retreat in Porto, Portugal, on May 6–7—their first in-depth debate as part of the ECB’s ongoing strategy review.Market reactionEUR/USD remains near the 1.1350 zone, up markedly for the day in a context of widespread recovery in the risk-associated universe and further weakness hurting the US Dollar. ECB FAQs What is the ECB and how does it influence the Euro? The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy for the region.
The ECB primary mandate is to maintain price stability, which means keeping inflation at around 2%. Its primary tool for achieving this is by raising or lowering interest rates. Relatively high interest rates will usually result in a stronger Euro and vice versa.
The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde. What is Quantitative Easing (QE) and how does it affect the Euro? In extreme situations, the European Central Bank can enact a policy tool called Quantitative Easing. QE is the process by which the ECB prints Euros and uses them to buy assets – usually government or corporate bonds – from banks and other financial institutions. QE usually results in a weaker Euro.
QE is a last resort when simply lowering interest rates is unlikely to achieve the objective of price stability. The ECB used it during the Great Financial Crisis in 2009-11, in 2015 when inflation remained stubbornly low, as well as during the covid pandemic. What is Quantitative tightening (QT) and how does it affect the Euro? Quantitative tightening (QT) is the reverse of QE. It is undertaken after QE when an economic recovery is underway and inflation starts rising. Whilst in QE the European Central Bank (ECB) purchases government and corporate bonds from financial institutions to provide them with liquidity, in QT the ECB stops buying more bonds, and stops reinvesting the principal maturing on the bonds it already holds. It is usually positive (or bullish) for the Euro.
18:28 Bailey speech: I don't think UK economy is close to recession
In an interview with CNBC on Thursday, Bank of England (BoE) Governor Andrew Bailey said that they see the impact of tariff uncertainty coming through to business investment and consumers.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
In an interview with CNBC on Thursday, Bank of England (BoE) Governor Andrew Bailey said that they see the impact of tariff uncertainty coming through to business investment and consumers.Key takeaways"Impact of tariffs on exchange rates has not been that large for the UK.""We are focused on the growth shock from tariffs.""I don't think the UK economy is close to recession.""Last GDP data was quite encouraging.""Weak PMI data reflects companies' uncertainty.""Talk about potential loss of dollar reserve currency status is overdone.""I hope upcoming UK inflation bump will be transitory."Market reactionGBP/USD showed no reaction to these comments and was last seen gaining 0.35% on the day at 1.3300. BoE FAQs What does the Bank of England do and how does it impact the Pound? The Bank of England (BoE) decides monetary policy for the United Kingdom. Its primary goal is to achieve ‘price stability’, or a steady inflation rate of 2%. Its tool for achieving this is via the adjustment of base lending rates. The BoE sets the rate at which it lends to commercial banks and banks lend to each other, determining the level of interest rates in the economy overall. This also impacts the value of the Pound Sterling (GBP). How does the Bank of England’s monetary policy influence Sterling? When inflation is above the Bank of England’s target it responds by raising interest rates, making it more expensive for people and businesses to access credit. This is positive for the Pound Sterling because higher interest rates make the UK a more attractive place for global investors to park their money. When inflation falls below target, it is a sign economic growth is slowing, and the BoE will consider lowering interest rates to cheapen credit in the hope businesses will borrow to invest in growth-generating projects – a negative for the Pound Sterling. What is Quantitative Easing (QE) and how does it affect the Pound? In extreme situations, the Bank of England can enact a policy called Quantitative Easing (QE). QE is the process by which the BoE substantially increases the flow of credit in a stuck financial system. QE is a last resort policy when lowering interest rates will not achieve the necessary result. The process of QE involves the BoE printing money to buy assets – usually government or AAA-rated corporate bonds – from banks and other financial institutions. QE usually results in a weaker Pound Sterling. What is Quantitative tightening (QT) and how does it affect the Pound Sterling? Quantitative tightening (QT) is the reverse of QE, enacted when the economy is strengthening and inflation starts rising. Whilst in QE the Bank of England (BoE) purchases government and corporate bonds from financial institutions to encourage them to lend; in QT, the BoE stops buying more bonds, and stops reinvesting the principal maturing on the bonds it already holds. It is usually positive for the Pound Sterling.
18:18 US: Tariff revenues surge, but not enough – Standard Chartered
US tariff revenues reached a record-high USD 12bn on 22 April; MTD, they are up 130% vs 2024 levels. At this pace, the increase in tariff revenue is likely to total a little less than 0.4% of GDP over a full year.
US tariff revenues reached a record-high USD 12bn on 22 April; MTD, they are up 130% vs 2024 levels. At this pace, the increase in tariff revenue is likely to total a little less than 0.4% of GDP over a full year. If tariffs stay at current levels, revenues may move up a little, but there are two-sided risks, Standard Chartered's economists note. Funding cup is one-third full "The US collected record-high customs duties of USD 15bn for the first 16 business days of April (through 22 April), according to Treasury Department data; this is more than double the revenue collected over the same period last year. On 22 April alone the Treasury collected USD 11.7bn. Based on this, we estimate additional revenue from the tariffs implemented so far at an annualised rate just below 0.4% of GDP. USD 15bn is a non-negligible amount, but it is slightly below our recent estimated range and insufficient to offset the fiscal cost of the planned Tax Cuts and Jobs Act (TJCA) extension." "Moreover, there is a risk of a noticeable – and possibly persistent – pop in inflation, without generating enough revenues to pay for tax cuts and a flatter deficit path. This is the first glance we have had of the impact of the 2 April tariff announcement. So far, the data suggests higher revenue collection, but that the increment is not a game-changer for government funding." "The Treasury publishes its receipts from customs and duties on a daily basis. The 16th business day of the month (22 April in both 2024 and 2025) typically sees the bulk of revenue collection. Whether we look at 5-day, 10-day or MTD averages, revenue collection seems to be running at 2.0-2.4 times the 2024 pace. The US collected c.USD 100bn in tariffs in 2024, so even if we use the top end of the 100-140% increase range, it may collect c.USD 140bn more this year. This implies an increase of just under 0.5% of GDP and represents a roughly 4.5% hike in the average tariff rate."
18:02 United States Kansas Fed Manufacturing Activity down to -5 in April from previous 1
United States Kansas Fed Manufacturing Activity down to -5 in April from previous 1
17:30 United States EIA Natural Gas Storage Change above expectations (69B) in April 18: Actual (88B)
United States EIA Natural Gas Storage Change above expectations (69B) in April 18: Actual (88B)
17:25 ECB’s Holzmann: Rate cuts must wait for more tariff certainty
CNBC reported that European Central Bank (ECB) policymaker Robert Holzmann said that Eurozone interest rates should be held until more clarity emerges on the path of United States (US) tariffs and European Union (EU) countermeasures.
CNBC reported that European Central Bank (ECB) policymaker Robert Holzmann said that Eurozone interest rates should be held until more clarity emerges on the path of United States (US) tariffs and European Union (EU) countermeasures.Key QuotesRate cuts must wait for more tariff certainty.There was a “broad consensus” around lowering rates, but some disagreement at the margins.It wasn’t clear yet to what extent [tariff] countermeasures were being taken.There may be further cuts this year, but the number is still outstanding.While various scenarios remained possible with regard to prices and movement of rates, for the time being direction was downward.
17:16 Fed's Waller: Rate cuts could come from rising unemployment
Federal Reserve (Fed) Governor Christopher Waller told Bloomberg on Thursday that tariffs are a part of most economic debates and noted that the general tone suggests that many companies are frozen by the uncertainty.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
Federal Reserve (Fed) Governor Christopher Waller told Bloomberg on Thursday that tariffs are a part of most economic debates and noted that the general tone suggests that many companies are frozen by the uncertainty.Key takeaways"Firms are trying to see how to navigate tariffs.""Wouldn't surprise me to see more layoffs, higher unemployment.""Smaller tariffs will have modest pass through.""We need better control of budget deficit.""No obvious reason why tariffs should be off table as part of fiscal debate.""Not likely by July there will be clear tariff impacts yet.""Easiest place to offset tariff costs is by cutting payrolls.""It's possible tariffs could push up unemployment quickly.""Struggle over last 18 months has been uneven inflation progress.""I still strongly believe tariffs will be one time price level effect.""Demand slowdown from tariffs would offset some inflation impact.""It's going to take courage to stare down tariff price increases and see them as transitory.""I'm willing to look through tariff price increases.""Rate cuts could come from rising unemployment.""Fed will look at data to determine policy moves.""Data focus brings risk of being late on policy action."Market reactionThe US Dollar Index struggles to gain traction following these comments. At the time of press, the index was down 0.45% on the day at 99.30. Fed FAQs What does the Federal Reserve do, how does it impact the US Dollar? Monetary policy in the US is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability and foster full employment. Its primary tool to achieve these goals is by adjusting interest rates.
When prices are rising too quickly and inflation is above the Fed’s 2% target, it raises interest rates, increasing borrowing costs throughout the economy. This results in a stronger US Dollar (USD) as it makes the US a more attractive place for international investors to park their money.
When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates to encourage borrowing, which weighs on the Greenback. How often does the Fed hold monetary policy meetings? The Federal Reserve (Fed) holds eight policy meetings a year, where the Federal Open Market Committee (FOMC) assesses economic conditions and makes monetary policy decisions.
The FOMC is attended by twelve Fed officials – the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four of the remaining eleven regional Reserve Bank presidents, who serve one-year terms on a rotating basis. What is Quantitative Easing (QE) and how does it impact USD? In extreme situations, the Federal Reserve may resort to a policy named Quantitative Easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system.
It is a non-standard policy measure used during crises or when inflation is extremely low. It was the Fed’s weapon of choice during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy high grade bonds from financial institutions. QE usually weakens the US Dollar. What is Quantitative Tightening (QT) and how does it impact the US Dollar? Quantitative tightening (QT) is the reverse process of QE, whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing, to purchase new bonds. It is usually positive for the value of the US Dollar.
17:16 Silver Price Forecast: XAG/USD corrects as White House softens stance on US-China trade relations
Silver price (XAG/USD) retraces to near $33.30 during North American trading hours on Thursday from an almost three-week high of $33.70 posted earlier in the day. The white metal corrects as investors become hopeful of significant de-escalation in trade war between the United States (US) and China.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}Silver price retraces to near $33.30 on hopes of de-escalation in US-China trade war.The demand of Silver as industrial metal will increase if the US and China ends tariff war.China wants the US to cancel unilateral tariff measures before coming to the table.Silver price (XAG/USD) retraces to near $33.30 during North American trading hours on Thursday from an almost three-week high of $33.70 posted earlier in the day. The white metal corrects as investors become hopeful of significant de-escalation in trade war between the United States (US) and China.Investors’ confidence on normalizing trade relations between the world’s two largest powerhouses increased after US President Donald Trump assured of making a deal with Beijing. Discussions with Beijing are going well, and I think that we will reach a deal,” Trump said on Tuesday.Additionally, US Treasury Secretary Scott Bessent has signaled that both nations can reduce additional tariffs imposed recently. “I don’t think either side believes that the current tariff levels are sustainable, so I would not be surprised if they went down in a mutual way,” Bessent said on Wednesday.A report from the Wall Street Journal (WSJ) showed on Wednesday that the White House can lower additional import duties roughly between 50%-65%.Meanwhile, China has given ultimatum to the US to “completely cancel all unilateral tariff measures” if it wants trade talks, according to a spokesperson from Chinese commerce ministry, Financial Times (FT) reported.Positive comments from Washington for resolving trade disputes between the US and China have diminished fears of a global economic turmoil. Theoretically, the scenario weighs on the safe-haven demand of the Silver price. However, improving relations between them increase the demand of Silver as industrial metal.Silver has application in various industries, such as Electric Vehicles (EV), electronic alliances, power and cables, mining etc.Silver technical analysisSilver price tests the breakout region of the consolidation around $33.10 formed on the daily timeframe. The 20-day Exponential Moving Average (EMA) near $32.55 continues to provide support to the Silver price.The 14-day Relative Strength Index (RSI) reaches near 60.00. A fresh bullish momentum would emerge if the RSI breaks above 60.00.Looking up, the March 28 high of $34.60 will act as key resistance for the metal. On the downside, the April 11 low of $30.90 will be the key support zone.Silver daily chart Silver FAQs Why do people invest in Silver? Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets. Which factors influence Silver prices? Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices. How does industrial demand affect Silver prices? Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices. How do Silver prices react to Gold’s moves? Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
17:00 United States Existing Home Sales (MoM) came in at 4.02M below forecasts (4.13M) in March
United States Existing Home Sales (MoM) came in at 4.02M below forecasts (4.13M) in March
17:00 United States Existing Home Sales Change (MoM) came in at -5.9%, below expectations (-3%) in March
United States Existing Home Sales Change (MoM) came in at -5.9%, below expectations (-3%) in March
16:25 USD slips as stocks dip – Scotiabank
The US Dollar (USD) is tracking lower again after two days of gains lifted the DXY some 2% off the three year low reached earlier in the week. The CHF and JPY are sitting near the top of the overnight performance table, just behind the SEK and NOK.
The US Dollar (USD) is tracking lower again after two days of gains lifted the DXY some 2% off the three year low reached earlier in the week. The CHF and JPY are sitting near the top of the overnight performance table, just behind the SEK and NOK. The CAD and MXN are firmer but lagging their peers. European stocks are softer and US equity futures are lower after US stocks slipped back from the intraday highs seen yesterday. Treasurys are a little firmer, in line with other major bond markets, Scotiabank's Chief FX Strategist Shaun Osborne notes. China tells US to lift tariff before talks"USD sentiment remains weak amid uncertainty over tariffs and their impact on the US economy. Grounds for optimism on trade should remain in check, I think which will serve to keep the USD on the defensive. While the US has tried to put a positive spin on prospects for trade deals this week, it seems clear that there is nothing imminent. President Trump suggested yesterday that tariffs on China could come down in “2-3 weeks” but China responded by calling on the US to remove all reciprocal tariffs and said no talks had yet taken place. China can—and will—be patient." "Messaging from the US administration also remains somewhat confusing. The president also said late yesterday that he was not considering any changes in auto tariffs shortly before Bloomberg reported that 'US officials' were considering changes in auto tariffs. March Durable Goods are expected to rise a solid 2.0% but the ex-transport data is forecast to rise a moderate 0.3% in the month. Orders and shipments data have been trending positively since late last year but tariff risks may pin core capital goods orders back to a meagre 0.1% rise." "DXY gains earlier this week have done just about enough to ease short-term overbought signals but were not enough to bolster prospects of a sustained rebound. The USD’s broader undertone remains soft and prone to more losses. Intraday support is 98.85 ahead of a retest of the 98 area."
16:25 CAD lags peers as markets ponder US trade policy – Scotiabank
The Canadian Dollar (CAD) is trading modestly higher against the US Dollar (USD) in relatively quiet trade, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The Canadian Dollar (CAD) is trading modestly higher against the US Dollar (USD) in relatively quiet trade, Scotiabank's Chief FX Strategist Shaun Osborne notes. CAD firmer on session "CAD gains are lagging those of most of its major currency peers though as spot stick to its recent trading range. The federal election is looming but may not have too much impact on CAD sentiment in the short run. The more immediate focus is on US trade policy and its impact on CAD prospects. Spot continues to trade close to our fair value estimate (1.3892 currently)." "Spot is trading a little lower on the session so far but it is holding within the consolidation range that has developed so far this week. After peaking around the range ceiling near 1.39 yesterday, the CAD may edge towards the range base (1.3805/10) into the end of the week." "Loss of support in the low 1.38s would lift near-term bearish momentum again for a push to test major (retracement) support at 1.3745."
16:05 Fed’s Hammack: The US economy is very resilient
Beth Hammack, president of the Federal Reserve Bank of Cleveland, said that the central bank should exercise patience in its monetary policy amid high uncertainty and added that she would not rule out making adjustments by June if the data warranted action.
Beth Hammack, president of the Federal Reserve Bank of Cleveland, said that the central bank should exercise patience in its monetary policy amid high uncertainty and added that she would not rule out making adjustments by June if the data warranted action.Key highlightsUncertainty is really weighing on businesses and their planning. We don’t know yet what uncertainty and trade policy will do to economy. Doesn’t have basecase right now, is looking at scenarios for economy. Lots of different scenarios ahead of economy. Fed needs to be patient, it’s too soon to change rates. Seeing good things in hard data, softer data is an issue. Fed will move quickly if it needs to. When it’s clear where economy is going Fed will act. Watches markets for their impact on real economy. Over recent weeks markets clearly volatile but functional. US economy is very resilient. With economy, many different paths lie ahead. Enters every FOMC meeting with open mind. Fed could move in June if data is clear about economy’s state. Lower stocks, bonds, dollar trade should be monitored. Fed will focus on data while making policy. It’s possible Trump’s view on Fed Chair could affect data. Independent central banks deliver better outcomes, markets recognise this.
16:02 ECB's Lane: No reason to say we’re always going to do default 25 bps moves
European Central Bank Chief Economist Philip Lane told Bloomberg News on Thursday that he doesn't expect the trade fallout to trigger a recession in the Euro area.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
European Central Bank Chief Economist Philip Lane told Bloomberg News on Thursday that he doesn't expect the trade fallout to trigger a recession in the Euro area."There's no reason to say we're always going to do the default 25 basis-point interest rate moves," Lane added.Market reactionThese comments don't seem to be having a noticeable impact on the Euro's performance against its major rivals. At the time of press, EUR/USD was up 0.55% on the day at 1.1380. ECB FAQs What is the ECB and how does it influence the Euro? The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy for the region.
The ECB primary mandate is to maintain price stability, which means keeping inflation at around 2%. Its primary tool for achieving this is by raising or lowering interest rates. Relatively high interest rates will usually result in a stronger Euro and vice versa.
The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde. What is Quantitative Easing (QE) and how does it affect the Euro? In extreme situations, the European Central Bank can enact a policy tool called Quantitative Easing. QE is the process by which the ECB prints Euros and uses them to buy assets – usually government or corporate bonds – from banks and other financial institutions. QE usually results in a weaker Euro.
QE is a last resort when simply lowering interest rates is unlikely to achieve the objective of price stability. The ECB used it during the Great Financial Crisis in 2009-11, in 2015 when inflation remained stubbornly low, as well as during the covid pandemic. What is Quantitative tightening (QT) and how does it affect the Euro? Quantitative tightening (QT) is the reverse of QE. It is undertaken after QE when an economic recovery is underway and inflation starts rising. Whilst in QE the European Central Bank (ECB) purchases government and corporate bonds from financial institutions to provide them with liquidity, in QT the ECB stops buying more bonds, and stops reinvesting the principal maturing on the bonds it already holds. It is usually positive (or bullish) for the Euro.
16:00 Russia Central Bank Reserves $ up to $681.3B from previous $655.8B
Russia Central Bank Reserves $ up to $681.3B from previous $655.8B
15:36 US Durable Goods Orders rise by 9.2% in March vs. 2% expected
Durable Goods Orders in the US rose by 9.2%, or $26.6 billion, in March to $315.7 billion, the US Census Bureau reported on Thursday. This reading followed a 0.9% increase reported in February and surpassed the market expectation for an increase of 2% by a wide margin.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}Durable Goods Orders in the US rose sharply in March.US Dollar Index stays in negative territory near 99.50.Durable Goods Orders in the US rose by 9.2%, or $26.6 billion, in March to $315.7 billion, the US Census Bureau reported on Thursday. This reading followed a 0.9% increase reported in February and surpassed the market expectation for an increase of 2% by a wide margin."Excluding transportation, new orders were virtually unchanged," the press release read. "Excluding defense, new orders increased 10.4%. Transportation equipment, also up three consecutive months, led the increase, $26.5 billion, or 27% to $124.6 billion."Market reactionThe US Dollar (USD) showed no immediate reaction to this report. At the time of press, the USD Index was down 0.35% on the day at 99.45. US Dollar FAQs What is the US Dollar? The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022.
Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away. How do the decisions of the Federal Reserve impact the US Dollar? The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates.
When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback. What is Quantitative Easing and how does it influence the US Dollar? In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system.
It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar. What is Quantitative Tightening and how does it influence the US Dollar? Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.
15:36 US: Initial Jobless Claims rose to 222K last week
US citizens filing new applications for unemployment insurance increased to 222K for the week ending April 19, as reported by the US Department of Labor (DOL) on Thursday.
Initial Jobless Claims ticked higher to 222K.Continuing Jobless Claims dropped to 1.841M.US citizens filing new applications for unemployment insurance increased to 222K for the week ending April 19, as reported by the US Department of Labor (DOL) on Thursday. This print came in just above initial estimates and was higher than the previous week's revised tally of 216K (revised from 215K).The report also highlighted a seasonally adjusted insured unemployment rate of 1.2%, while the four-week moving average decreased by 750 to 220.25K from the prior week’s revised average.Moreover, Continuing Jobless Claims went down by 37K to reach 1.841M for the week ending April 12.Market reactionThe Greenback keeps its downside momentum in place on Thursday, hovering around the 99.40 zone amid a correction from two consecutive days of gains.
15:30 United States Durable Goods Orders ex Transportation below forecasts (0.2%) in March: Actual (0%)
United States Durable Goods Orders ex Transportation below forecasts (0.2%) in March: Actual (0%)
15:30 United States Continuing Jobless Claims below forecasts (1.88M) in April 11: Actual (1.841M)
United States Continuing Jobless Claims below forecasts (1.88M) in April 11: Actual (1.841M)
15:30 United States Initial Jobless Claims came in at 222K, above expectations (221K) in April 18
United States Initial Jobless Claims came in at 222K, above expectations (221K) in April 18
15:30 United States Initial Jobless Claims 4-week average declined to 220.25K in April 18 from previous 220.75K
United States Initial Jobless Claims 4-week average declined to 220.25K in April 18 from previous 220.75K
15:30 United States Durable Goods Orders ex Defense registered at 10.4% above expectations (0.2%) in March
United States Durable Goods Orders ex Defense registered at 10.4% above expectations (0.2%) in March
15:30 United States Durable Goods Orders came in at 9.2%, above forecasts (2%) in March
United States Durable Goods Orders came in at 9.2%, above forecasts (2%) in March
15:30 United States Chicago Fed National Activity Index : -0.03 (March) vs previous 0.18
United States Chicago Fed National Activity Index : -0.03 (March) vs previous 0.18
15:00 Mexico 1st half-month Core Inflation above forecasts (0.2%) in April: Actual (0.34%)
Mexico 1st half-month Core Inflation above forecasts (0.2%) in April: Actual (0.34%)
15:00 Mexico 1st half-month Inflation above forecasts (-0.04%) in April: Actual (0.12%)
Mexico 1st half-month Inflation above forecasts (-0.04%) in April: Actual (0.12%)
14:50 JPY outperforming on mild risk off – Scotiabank
Japanese Yen (JPY) is entering Thursday’s NA session with an impressive 0.8% gain, outperforming most of the G10 currencies on the back of mild risk aversion, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Japanese Yen (JPY) is entering Thursday’s NA session with an impressive 0.8% gain, outperforming most of the G10 currencies on the back of mild risk aversion, Scotiabank's Chief FX Strategist Shaun Osborne notes. US specifically highlights FX"Wednesday’s comments from US Treasury Secretary Bessent suggested that the US wouldn’t be seeking a specific exchange rate target in its negotiations with Japan. The comments imply a desire for JPY strength (USD weakness) as the US administration seeks to unwind the dollar’s deemed ‘overvaluation’ resulting from its reserve currency status." "We remain bullish JPY from a longer-term perspective, targeting a decline in USD/JPY (JPY strength) toward the 125-130 area. A reminder that the next BoJ policy decision is scheduled for May 1 and that it remains one of the few G10 central banks to maintain a hawkish stance and a bias toward further rate hikes."
14:47 GBP sees modest gains – Scotiabank
Pound Sterling (GBP) is up 0.5% against the US Dollar (USD) but marginally underperforming most of the G10 currencies within the context of broad-based USD weakness, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Pound Sterling (GBP) is up 0.5% against the US Dollar (USD) but marginally underperforming most of the G10 currencies within the context of broad-based USD weakness, Scotiabank's Chief FX Strategist Shaun Osborne notes. BoE’s Bailey strikes dovish tone"The performance is typical for GBP, as it has recently been lagging its G10 peers through the larger trade-related swings in the USD. Domestic developments have been limited and remain secondary to the market’s focus on trade." "Wednesday’s comments from BoE Gov. Bailey leaned dovish, highlighting the economic headwinds posed by US tariffs – despite the UK’s preferential 10% rate. The next BoE meeting (May 8) is one where the central bank will produce fresh forecasts." "GBP/USD is bullish, with a clear trend of higher lows and higher highs and an RSI that remains firmly in bullish (50+) territory. Near-term support is expected at 1.3220 with resistance closer to 1.34."
14:45 USD/JPY falls back to near 142.30 as USD’s relief recovery shrinks
The USD/JPY pair retreats to near 142.30 during European trading hours on Thursday after a relief recovery move seen in the last two trading days. The pair falls back as the US Dollar Index (DXY) retraces after failing to extend its two-day recovery above the key level of 100.00.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}USD/JPY slides to near 142.30 as the USD’s recovery has fizzled out.US Bessent indicated that both the US and China can reduce additional tariffs on each other.Japan's Akazawa is scheduled to visit Washington for trade negotiations on April 30.The USD/JPY pair retreats to near 142.30 during European trading hours on Thursday after a relief recovery move seen in the last two trading days. The pair falls back as the US Dollar Index (DXY) retraces after failing to extend its two-day recovery above the key level of 100.00.The recovery move in the US Dollar has been shortened, even though Washington seems hopeful of a de-escalation in the trade war between the United States (US) and China. US Treasury Secretary Scott Bessent signaled on Wednesday that both nations could reduce additional tariffs imposed on each other mutually.“I don’t think either side believes that the current tariff levels are sustainable, so I would not be surprised if they went down in a mutual way,” Bessent said.Fears of an intense trade war between the world’s two largest powerhouses started ebbing after US President Donald Trump expressed willingness to make a deal with Beijing. Discussions with Beijing are going well, and I think that we will reach a deal,” Trump said on Tuesday.On the domestic front, investors await the US Durable Goods Orders data for March, which will be published at 12:30. Economists expect the Durable Goods Orders to have grown at a robust pace of 2%.On the Tokyo front, investors look forward to Japan's Economy Minister Ryosei Akazawa’s visit to Washington on April 30 for negotiations on tariffs. Trade talks held last week between Tokyo and Washington didn’t turn out favorable for Japan, in which Akazawa asked the White House to review tariffs on automobiles and steel, according to the NHK report. US officials indicated that they cannot give Japan preferential treatment. Japanese Yen FAQs What key factors drive the Japanese Yen? The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors. How do the decisions of the Bank of Japan impact the Japanese Yen? One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen. How does the differential between Japanese and US bond yields impact the Japanese Yen? Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential. How does broader risk sentiment impact the Japanese Yen? The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen’s value against other currencies seen as more risky to invest in.
14:40 EUR strengthens despite increasingly dovish comments from ECB – Scotiabank
Euro (EUR) is up 0.7% against the US Dollar (USD), a mid-performer among the G10 and strengthening within the context of a broadly weaker dollar driven by headlines related to trade, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Euro (EUR) is up 0.7% against the US Dollar (USD), a mid-performer among the G10 and strengthening within the context of a broadly weaker dollar driven by headlines related to trade, Scotiabank's Chief FX Strategist Shaun Osborne notes. EUR/USD remains in an uptrend"The EUR is climbing despite dovish comments from ECB policymakers Rehn (Finland) and Muller (Governing Council), both hinting to easing with Rehn speaking to the possibility of a ‘larger cut’. The headlines follow recent policymakers’ comments on the disinflationary impact of US tariffs and are a more explicit endorsement of further easing." "The ECB’s next meeting is scheduled for June 5 and will offer fresh forecasts. The most recent (April 17) was too close to the April 2nd tariff announcement and left policymakers unwilling to offer stimulus at that time." "EUR/USD remains in an uptrend, with a clear sequence of higher lows and higher highs. Recent support has been observed in the 1.1280-1.1300 area and near-term resistance appears limited ahead of 1.15."
14:38 China: The Art of the No-Deal – ABN AMRO
Following sharp escalation of US-China trade war in April, a direct export shock to the US is imminent. Exemptions for electronics, trade circumvention/reorientation and more support will mitigate this shock.
Following sharp escalation of US-China trade war in April, a direct export shock to the US is imminent. Exemptions for electronics, trade circumvention/reorientation and more support will mitigate this shock. We lowered our annual growth forecasts for 2025/ 2026 to 4.1% (from 4.3%) and 3.9% (from 4.2%), ABN AMRO's economists note. Tariff war deepens as US and China exchange blows"Since ‘US Liberation Day’ on 2 April, the US-China tariff war escalated, with the US now levying 145% on imports from China (and 125% vice versa). Various US officials have hinted at a future US-China trade deal, but so far Beijing does not seem to have much appetite to go along with Trump’s Art of the Deal tactics. China has positioned itself as ‘the adult in the room’, stating it would neglect further US tariff hikes, while also using instruments such as export restrictions on critical metals and blacklisting US firms.""Beijing likely feels it now has the upper hand, as the US is facing the macro and market fall-out of its tariff policy. China will also feel pain from the trade war, but does not face mid-term elections next year and hence may have a higher 'pain tolerance'. China also has leverage on the US via its large holdings of US Treasuries.""We already assumed China would be ‘singled out’ in terms of tariffs and had forecast below-trend q/q growth in Q2/Q3. All in all, we adjusted our quarterly growth profile and cut our growth forecasts for 2025/26 to 4.1% (from 4.3%) and 3.9% (from 4.2%). A key downside risk would stem from countries teaming up with the US against China."
14:22 German government expects economic stagnation in 2025
In a report published on Tuesday, the German government said that it now expects the economy to stagnate in 2025, compared to the 0.3% growth projection in the previous estimate.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
In a report published on Tuesday, the German government said that it now expects the economy to stagnate in 2025, compared to the 0.3% growth projection in the previous estimate.The German economy is forecast to grow by 1% in 2026, while inflation is projects to be 2% in 2025 and 1.9% next year."The German economy is once again facing major challenges due to the unpredictable trade policy of the United States," Economy Minister Robert Habeck said in a written statement. "Given the German economy's close integration into global supply chains and our high level of foreign trade openness, the new US protectionism could have significant direct and indirect effects on our economic growth," he added.Market reactionEUR/USD holds its ground following this headline. At the time of press, the pair was trading near 1.1390, rising 0.65% on a daily basis. German economy FAQs What is the effect of the German Economy on the Euro? The German economy has a significant impact on the Euro due to its status as the largest economy within the Eurozone. Germany's economic performance, its GDP, employment, and inflation, can greatly influence the overall stability and confidence in the Euro. As Germany's economy strengthens, it can bolster the Euro's value, while the opposite is true if it weakens. Overall, the German economy plays a crucial role in shaping the Euro's strength and perception in global markets. What is the political role of Germany within the Eurozone? Germany is the largest economy in the Eurozone and therefore an influential actor in the region. During the Eurozone sovereign debt crisis in 2009-12, Germany was pivotal in setting up various stability funds to bail out debtor countries. It took a leadership role in the implementation of the 'Fiscal Compact' following the crisis – a set of more stringent rules to manage member states’ finances and punish ‘debt sinners’. Germany spearheaded a culture of ‘Financial Stability’ and the German economic model has been widely used as a blueprint for economic growth by fellow Eurozone members. What are German Bunds? Bunds are bonds issued by the German government. Like all bonds they pay holders a regular interest payment, or coupon, followed by the full value of the loan, or principal, at maturity. Because Germany has the largest economy in the Eurozone, Bunds are used as a benchmark for other European government bonds. Long-term Bunds are viewed as a solid, risk-free investment as they are backed by the full faith and credit of the German nation. For this reason they are treated as a safe-haven by investors – gaining in value in times of crisis, whilst falling during periods of prosperity. What are German Bund Yields? German Bund Yields measure the annual return an investor can expect from holding German government bonds, or Bunds. Like other bonds, Bunds pay holders interest at regular intervals, called the ‘coupon’, followed by the full value of the bond at maturity. Whilst the coupon is fixed, the Yield varies as it takes into account changes in the bond's price, and it is therefore considered a more accurate reflection of return. A decline in the bund's price raises the coupon as a percentage of the loan, resulting in a higher Yield and vice versa for a rise. This explains why Bund Yields move inversely to prices. What is the Bundesbank? The Bundesbank is the central bank of Germany. It plays a key role in implementing monetary policy within Germany, and central banks in the region more broadly. Its goal is price stability, or keeping inflation low and predictable. It is responsible for ensuring the smooth operation of payment systems in Germany and participates in the oversight of financial institutions. The Bundesbank has a reputation for being conservative, prioritizing the fight against inflation over economic growth. It has been influential in the setup and policy of the European Central Bank (ECB).
13:50 AUD/USD bounces back to near 0.6400 as US Dollar’s recovery fizzle out
The AUD/USD pair rebounds to near 0.6390 during European trading hours on Thursday. The Aussie pair recovers as the two-day recovery in the US Dollar (USD) has fizzled out despite ebbing fears of an intense trade war between the United States (US) and China.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}AUD/USD recovers sharply to near 0.6400 at the expense of the US Dollar.Washington has signaled its willingness to negotiate a trade deal with China.The RBA is expected to cut interest rates next month.The AUD/USD pair rebounds to near 0.6390 during European trading hours on Thursday. The Aussie pair recovers as the two-day recovery in the US Dollar (USD) has fizzled out despite ebbing fears of an intense trade war between the United States (US) and China.The US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, retreats to near 99.20 from Wednesday’s high around 100.00.US President Donald Trump has expressed a willingness to make a trade deal with China. “Discussions with Beijing are going well, and I think that we will reach a deal,” Trump said on Tuesday. Hopes of a de-escalation in the tariff war between the world’s two largest powerhouses have improved further as US Treasury Secretary Scott Bessent has shown openness to lower tariffs. “I don’t think either side believes that the current tariff levels are sustainable, so I would not be surprised if they went down in a mutual way,” Bessent said.Meanwhile, fears of a resurgence in US inflation have escalated as the flash S&P Global Purchasing Managers’ Index (PMI) report showed that respondents have signaled passing the impact of tariffs on consumers. Such an event will limit the Federal Reserve’s (Fed) capability of reducing interest rates.Easing tensions between Washington and China is also a favorable scenario for the Australian Dollar (AUD), given the significant dependence of the Australian economy on its exports to China.Domestically, increasing odds of an interest rate cut by the Reserve Bank of Australia (RBA) in the May policy meeting could weigh on the Aussie Dollar. According to analysts at Westpac, the RBA will reduce its Official Cash Rate (OCR) by 25 basis points (bps) to 3.85% in May amid growing downside risks to inflation and global economic growth. Australian Dollar FAQs What key factors drive the Australian Dollar? One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – is also a factor, with risk-on positive for AUD. How do the decisions of the Reserve Bank of Australia impact the Australian Dollar? The Reserve Bank of Australia (RBA) influences the Australian Dollar (AUD) by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down. Relatively high interest rates compared to other major central banks support the AUD, and the opposite for relatively low. The RBA can also use quantitative easing and tightening to influence credit conditions, with the former AUD-negative and the latter AUD-positive. How does the health of the Chinese Economy impact the Australian Dollar? China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar (AUD). When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected. Positive or negative surprises in Chinese growth data, therefore, often have a direct impact on the Australian Dollar and its pairs. How does the price of Iron Ore impact the Australian Dollar? Iron Ore is Australia’s largest export, accounting for $118 billion a year according to data from 2021, with China as its primary destination. The price of Iron Ore, therefore, can be a driver of the Australian Dollar. Generally, if the price of Iron Ore rises, AUD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Iron Ore falls. Higher Iron Ore prices also tend to result in a greater likelihood of a positive Trade Balance for Australia, which is also positive of the AUD. How does the Trade Balance impact the Australian Dollar? The Trade Balance, which is the difference between what a country earns from its exports versus what it pays for its imports, is another factor that can influence the value of the Australian Dollar. If Australia produces highly sought after exports, then its currency will gain in value purely from the surplus demand created from foreign buyers seeking to purchase its exports versus what it spends to purchase imports. Therefore, a positive net Trade Balance strengthens the AUD, with the opposite effect if the Trade Balance is negative.
13:46 US Dollar recovery stalls as optimism over US-China trade war deal wanes
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades on the back foot and is down 0.50% at the start of the European trading session on Thursday.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}The US Dollar is dipping, with the DXY US Dollar Index down by around 0.50%. Markets are throwing in the towel again after Trump and Bessent said their administration hasn’t unilaterally offered to lower US tariffs on China. The US Dollar Index remains capped below the 100.00 round level. The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades on the back foot and is down 0.50% at the start of the European trading session on Thursday. The knee-jerk reaction comes after comments from United States (US) President Donald Trump and US Treasury Secretary Scott Bessent. Both individually said that no unilateral offer was made to China from the US to lower tariffs, while Trump said that reciprocal tariffs could be revisited if negotiations are not going the way the Trump administration wants them to go, Bloomberg reports. On the economic calendar front, a very intensive trading day is ahead. Besides the weekly Jobless Claims, both the Chicago Fed Activity Tracker and the Kansas Fed Manufacturing Index are due to be released. The main focus, however, will likely be on the Durable Goods Orders data for March, with markets expecting orders to increase at a faster pace of 2%.Daily digest market movers: Chunky agenda aheadAt 12:30 GMT, the Chicago Fed National Activity Index for March is due. No forecast available, and the previous reading came in at 0.18.At the same time, the US Durable Goods for March and the Jobless Claims are due:Headline Durable Goods are expected to jump to 2% from 1% previously. The Orders without Cars and Transportation are expected to increase by 0.2%, less than the 0.7% advance seen a month earlier.Weekly Initial Jobless Claims are expected to tick higher to 221,000 from 215,000. Continuing Claims are expected to remain stable at around 1.88 million. Around 14:00 GMT, Existing Home Sales data for March will be published. Sales are expected to soften to 4.13 million against 4.26 million in February. Near 15:00 GMT, the Kansas Fed Manufacturing Activity Index for April is expected. No forecast available with the previous number at 1.Equities look bleak this Thursday, with minor losses in Europe. US futures are facing over 0.50% declines. The CME FedWatch tool shows the chance of an interest rate cut by the Federal Reserve in May’s meeting stands at 6.1% against a 93.9% probability of no change. The June meeting still has around a 58.7% chance of a rate cut. The US 10-year yields trade around 4.35% looking for direction as markets are facing some knee jerk reactions on the Trump comments. US Dollar Index Technical Analysis: Knee-jerk again and againThe US Dollar Index (DXY) is backing off again after a two-day recovery. It looks like the DXY will start to consolidate, trading in a tight range between 100.00 and 98.00. Traders are likely to be fed up with these constant knee-jerk reactions and could opt to look for other places to put their money, with Gold as the preferred sweet spot. On the upside, the DXY’s first resistance comes in at 99.58, acting up again as a false break occurred Wednesday and Thursday. Should the US Dollar be able to turn positive again, look for 100.22 with a break back above the 100.00 round level as a bullish signal of their return. A firm recovery would be a return to 101.90.On the other hand, the 97.73 support is very close and could snap at any moment. Further below, a rather thin technical support comes in at 96.94, before looking at the lower levels of this new price range. These would be at 95.25 and 94.56, meaning fresh lows not seen since 2022.US Dollar Index: Daily Chart US-China Trade War FAQs What does “trade war” mean? Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade barriers, such as tariffs, which result in counter-barriers, escalating import costs, and hence the cost of living. What is the US-China trade war? An economic conflict between the United States (US) and China began early in 2018, when President Donald Trump set trade barriers on China, claiming unfair commercial practices and intellectual property theft from the Asian giant. China took retaliatory action, imposing tariffs on multiple US goods, such as automobiles and soybeans. Tensions escalated until the two countries signed the US-China Phase One trade deal in January 2020. The agreement required structural reforms and other changes to China’s economic and trade regime and pretended to restore stability and trust between the two nations. However, the Coronavirus pandemic took the focus out of the conflict. Yet, it is worth mentioning that President Joe Biden, who took office after Trump, kept tariffs in place and even added some additional levies. Trade war 2.0 The return of Donald Trump to the White House as the 47th US President has sparked a fresh wave of tensions between the two countries. During the 2024 election campaign, Trump pledged to impose 60% tariffs on China once he returned to office, which he did on January 20, 2025. With Trump back, the US-China trade war is meant to resume where it was left, with tit-for-tat policies affecting the global economic landscape amid disruptions in global supply chains, resulting in a reduction in spending, particularly investment, and directly feeding into the Consumer Price Index inflation.
13:28 Eurozone: Tariff reversal is some relief, but no game changer – ABN AMRO
High uncertainty continues to impact the eurozone economic recovery. The recovery is halted by tariffs in the near term; fiscal policy raises growth outlook in 2026 .
High uncertainty continues to impact the eurozone economic recovery. The recovery is halted by tariffs in the near term; fiscal policy raises growth outlook in 2026 . Disinflationary forces mean the ECB is likely to cut rates further to 1.5% by September, ABN AMRO's economists Jan-Paul van de Kerke and Bill Diviney note. Tariff uncertainty clouds Eurozone outlook"Liberation Day was supposed to provide clarity on future US tariff policy and by that a more certain eurozone economic impact. Liberation day, and one week later “Reversal Day” have – if anything – only lead to more policy uncertainty. This culminated in a 90-day pause for the reciprocal tariffs. The universal tariff of 10% stays in place, as do the separate 25% tariffs on steel & aluminium and cars & car parts.""Inflation in March edged lower with headline moving down to 2.2% from 2.3% in February, and core falling to 2.4% from 2.6%. Elevated services inflation has been the focal point of the ECB. Recently the outlook on that front is improving markedly. The most important driver is falling wage growth, with for instance the Indeed tracker moving another leg lower to a new post-pandemic low of 2.7% in Q1.""The ECB cut the deposit rate by 25bp to 2.25%, as widely expected. The tone in the press conference was dovish, reflecting the tariff hit to the growth outlook. More importantly, the April cut revealed a more dovish reaction function to tariffs; before, some Governing Council members still favoured a pause."
13:21 US: The US has already lost the trade war – ABN AMRO
One of the primary objectives of the Trump administration’s (trade) policies is to become less dependent on China, but policy implementation is poorly aligned with overall goals and too erratic. The trade war hurts everyone, but it hurts the US more than other major economic players.
One of the primary objectives of the Trump administration’s (trade) policies is to become less dependent on China, but policy implementation is poorly aligned with overall goals and too erratic. The trade war hurts everyone, but it hurts the US more than other major economic players. The price of China-decoupling is higher than just inflation: the US risks losing control of the global financial system, ABN AMRO's economist Rogier Quaedvlieg notes. US risks financial dominance in pursuit of manufacturing"Trump and his advisors have at different times raised three apparent goals of this trade war: reshoring manufacturing, raising revenue to decrease the deficit, and getting better (trade) deals. If the aim is to bring back manufacturing to the US through tariff policy, you’d want to offer clear incentives for firms to invest. The Trump administration has done the opposite, with erratic, rapid policy changes, frequent reversals and delays.""Recent developments point toward growing evidence that the US’s major trading partners, and particularly China, have the upper hand. Most of the recent changes in tariff policy were undoing previously applied tariffs - forced by financial (in particular Treasury) markets - and the fear of an inflation shock in consumer goods. China retaliated because it believed it would hurt the US more than itself.""Finally, while China controls global manufacturing, the US controls the global financial system. In trying to bring back manufacturing, and reducing its dependence on China, the US is destroying its reputation and risks losing its dominance of the financial system, perhaps even to China. Tariffs can be unwound quickly, but regaining the world’s trust will take much longer."
13:17 USD: Optimism over US tariff reversal helps the US dollar to rebound – MUFG
The U.S. dollar is regaining ground amid signals the Trump administration may ease trade tensions by reversing steep tariffs on Chinese imports and providing exemptions for key industries.
The U.S. dollar is regaining ground amid signals the Trump administration may ease trade tensions by reversing steep tariffs on Chinese imports and providing exemptions for key industries. While optimism is growing, analysts remain cautious about the sustainability of the rebound, MUFG's FX analyst Lee Hardman notes.Dollar rebounds as confidence in U.S. policy rises"The US Dollar (USD) has continued to trade at modestly stronger levels after staging a rebound over the last couple of trading days. It has resulted in the dollar index moving back up towards the 100.00-level as it moves further above the year to date low of 97.921 recorded on Monday. The US dollar rebound has been encouraged by recent developments suggesting that the Trump administration is in the process of reversing some of the more disruptive parts of their trade policies.""On the trade front, there is building optimism that the US will act quickly to reverse tariff hikes on China that recently have reached an 'unsustainable' rate of 145%. According to a WSJ report yesterday, the China tariffs were likely to come down to between roughly 50% and 65%. The administration is also considering a tiered approach similar to the one proposed by the House committee on China last year.""Recently imports of smartphones and other electronic products were excluded from tariffs. Bloomberg has reported as well overnight that US officials are now considering whether to reduce certain tariffs targeting the auto industry. Another option being studied would be to fully exempt auto parts that comply with the USMCA trade pact."
13:14 USD/CHF recovery faces headwinds from Trump’s policies blunting SNB’s efforts – DBS
USD/CHF broke below its two-year range between 0.84 and 0.92 this month. USD/CHF hit a decade-low of 0.8040 on April 21 before recovering to 0.83 in the past two sessions.
USD/CHF broke below its two-year range between 0.84 and 0.92 this month. USD/CHF hit a decade-low of 0.8040 on April 21 before recovering to 0.83 in the past two sessions. Before attempting to predict if USD/CHF has bottomed, it will be useful to revisit the previous episodes when USD/CHF hit even lower levels in 2011 and 2015 to provide a better understanding of the CHF’s strength and how the Swiss National Bank responded in each case, DBS' FX analyst Philip Wee note. Uncertainty clouds USD/CHF rebound as policy risks persist"In the first episode, USD/CHF bottomed at 0.7071 in August 2011. SNB targeted EUR/CHF, which was falling towards 1.00 in August 2011, from investors seeking safety during the Eurozone sovereign debt crisis. In September 2011, the SNB declared it would “no longer tolerate” a EUR/CHF rate below 1.210 and was prepared to buy unlimited foreign currency to enforce this minimum rate.""In December 2024, SNB slashed interest rates by 50 bps to 0.50% amid USD strength, which lifted USD/CHF to near 0.92 in January 2024 from its 0.84 low in September 2024. Unfortunately, the landscape has become less conducive to countering the CHF’s strength in 2025. The SNB’s 25 bps rate cut to 0.25% on March 20 briefly supported USD/CHF around 0.88 but was overshadowed by Trump’s erratic and unpredictable tariff policy.""Given Trump’s history of policy reversals, it is premature to conclude that USD/CHF’s rebound to 0.83 over the past two sessions is sustainable. With the IMF’s latest 2025 growth forecast for the US economy aligning closely with the Fed’s projection, Powell will likely maintain the Fed’s extended rate pause stance on inflation risks driven by Trump’s tariffs. However, if advance GDP growth for 1Q25 turns negative – as projected by the Atlanta Fed GDPNow model – Trump will likely attack Powell again."
13:11 USD: PMI surveys signal global slowdown underway – MUFG
The negative impact of heightened policy uncertainty and fears over disruption from trade tariffs were evident in the latest PMI surveys released yesterday from the Europe and the US.
The negative impact of heightened policy uncertainty and fears over disruption from trade tariffs were evident in the latest PMI surveys released yesterday from the Europe and the US. The composite PMI readings for April dropped by 0.8 points to 50.1 in the euro-zone, by 3.3 points to 48.2 in the UK, and by 2.3 points to 51.2 in the US, MUFG's FX analyst Lee Hardman notes. Fed rate cut bets face pushback as US inflation persists"The broad-based deterioration in business confidence will reinforce expectations for a slowdown in global growth in Q2. It fits with the IMF’s updated global economic projections that were released earlier this week. The IMF’s reference forecasts for global growth were revised lower by a cumulative 0.8 percentage points for this year and next to 2.8% and 3.0% respectively. Despite the forecasted slowdown, the IMF still noted that global growth remains well above recession levels. The biggest downgrades for growth were for the Mexico, Canada, the US and China." "The IMF expects US growth to slow to 1.8% (-0.9ppts lower) in 2025 and 1.7% (-0.4ppts lower) in 2026. It will create a more challenging backdrop for the Fed when setting monetary policy. The US rate market is currently pricing in around 83bps of Fed rate cuts by the end of this year with the next 25bps rate cut expected in June or July. However, with inflation set to rise further above the Fed’s 2.0% target this year, it will likely require an even sharper slowdown for the US economy and loosening of labour market conditions for the Fed to meet those expectations." "The weaker US dollar reflects in part the bigger expected negative impact on growth in the US compared to for other major economies. The IMF’s forecasts for growth in the euro-zone were revised lower but more modestly by -0.2 percentage points for both 2025 and 2026. The US dollar could derive more support going forward if the US economy does not slow as much as feared making it harder for the Fed to cut rates as much as currently priced in."
12:53 Pound Sterling recovers against US Dollar while fears of US-China trade war ebb
The Pound Sterling (GBP) bounces back to near 1.3300 against the US Dollar (USD) in Thursday’s European session.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}The Pound Sterling rebounds to near 1.3300 against the US Dollar as the USD Index struggles to extend its two-day recovery.US Treasury Secretary Bessent hopes for a reduction in additional tariffs by both the US and China on each other.Investors await the US Durable Goods Orders and the UK Retail Sales data for March.The Pound Sterling (GBP) bounces back to near 1.3300 against the US Dollar (USD) in Thursday’s European session. The GBP/USD pair rebounds after a two-day correction as the USD struggles to extend the recovery, with the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, facing pressure near the psychological level of 100.00.The USD Index recovered strongly earlier this week after United States (US) President Donald Trump backed away from threats of sacking Federal Reserve (Fed) Chair Jerome Powell and softened his stance on trade relations with China.US President Trump clarified on Tuesday that he has no intention to fire Jerome Powell. Investors had dumped the US Dollar and US assets in the last few trading days due to a series of verbal attacks from Trump on the Fed’s independence for not backing monetary policy expansion. This led investors to reassess the “safe-haven” status of the US Dollar.Meanwhile, diminishing fears of an intense trade war between the US and China had also boosted the USD’s demand. On Tuesday, Donald Trump signaled that “discussions with Beijing are going well” and expressed confidence that “they will reach a deal”. Hopes of a de-escalation in the US-China relationship got an extra boost as US Treasury Secretary Scott Bessent indicated on Wednesday that both nations will reduce additional tariffs imposed lately. Neither side believes that these are “sustainable levels,” Bessent said.On the economic front, investors await the US Durable Goods Orders data for March, which will be published at 12:30 GMT. The cost of orders received by manufacturers for durable goods is expected to have grown at a robust pace of 2% compared to a 1% increase seen in February.Daily digest market movers: Pound Sterling will be influenced by UK Retail Sales dataThe Pound Sterling demonstrates a mixed performance against its peers on Thursday. The British currency is outperforming its North American peers, but is down against the Euro (EUR), with investors turning cautious over the likely United Kingdom (UK) economic outlook in the face of tariffs announced by US President Trump earlier this month.Bank of England (BoE) Governor Andrew Bailey has expressed concerns over economic growth and stressed the need to consider trade war risk. "We do have to take very seriously the risk to growth,” Bailey said at the sidelines of the International Monetary Fund’s (IMF) spring meetings on Wednesday and added "We’re currently working through that because we’ve got an interest rate decision coming in two weeks’ time,” Reuters report. In the May policy meeting, traders are increasingly confident that the BoE will cut interest rates by 25 basis points (bps) to 4.25%.For the remaining year, the IMF has anticipated three interest rate cuts by the BoE and has revised UK Gross Domestic Product (GDP) growth for 2025 to 1.1% from 1.6% projected earlier amid worries of global fallout due to Trump’s international policies, BBC News reported.On the economic front, investors will focus on the United Kingdom (UK) Retail Sales data for March, which will be released on Friday. The Retail Sales data, a key measure of consumer spending, is expected to have declined by 0.4% month-on-month after rising by 1% in February. On year, the consumer spending measure is estimated to have risen at a moderate pace of 1.8% compared to the prior release of 2.2%.Technical Analysis: Pound Sterling rebounds to near 1.3300The Pound Sterling recovers to near 1.3300 against the US Dollar during European trading hours on Wednesday. The outlook of the pair remains firm as all short-to-long Exponential Moving Averages (EMAs) are sloping higher.The 14-day Relative Strength Index (RSI) cools down to near 65.00 after turning overbought. This indicates a mild correction in the pair after a strong rally, but the upside trend is intact.On the upside, the psychological level of 1.3500 will be a key hurdle for the pair. Looking down, the April 3 high around 1.3200 will act as a major support area. Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data.
Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE). How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates.
When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money.
When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects. How does economic data influence the value of the Pound? Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP.
A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall. How does the Trade Balance impact the Pound? Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period.
If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
12:30 South Africa Producer Price Index (MoM) up to 0.6% in March from previous 0.4%
South Africa Producer Price Index (MoM) up to 0.6% in March from previous 0.4%
12:30 South Africa Producer Price Index (YoY) down to 0.5% in March from previous 1%
South Africa Producer Price Index (YoY) down to 0.5% in March from previous 1%
12:30 Silver price today: Silver falls, according to FXStreet data
Silver prices (XAG/USD) fell on Thursday, according to FXStreet data.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
Silver prices (XAG/USD) fell on Thursday, according to FXStreet data. Silver trades at $33.35 per troy ounce, down 0.66% from the $33.57 it cost on Wednesday.
Silver prices have increased by 15.44% since the beginning of the year. Unit measure Silver Price Today in USD Troy Ounce 33.35 1 Gram 1.07
The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, stood at 100.07 on Thursday, up from 97.95 on Wednesday. Silver FAQs Why do people invest in Silver? Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets. Which factors influence Silver prices? Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices. How does industrial demand affect Silver prices? Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices. How do Silver prices react to Gold’s moves? Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver. (An automation tool was used in creating this post.)
The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, stood at 100.07 on Thursday, up from 97.95 on Wednesday. Silver FAQs Why do people invest in Silver? Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets. Which factors influence Silver prices? Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices. How does industrial demand affect Silver prices? Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices. How do Silver prices react to Gold’s moves? Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver. (An automation tool was used in creating this post.)
12:26 Oil drops as OPEC+ output hike looms – Danske Bank
Oil prices declined after reports emerged that OPEC+ is considering a major output increase in June, while Kazakhstan resists further production cuts to compensate for earlier overproduction.
Oil prices declined after reports emerged that OPEC+ is considering a major output increase in June, while Kazakhstan resists further production cuts to compensate for earlier overproduction. The internal discord threatens to undermine price stability, especially amid global economic uncertainty, Danske Bank's FX analysts report. OPEC+ is mulling an additional big output hike in June"The internal rift in OPEC+ continues to develop and yesterday oil prices fell on the news that the cartel is mulling an additional big output hike in June and further that Kazakhstan is not eager to cut output to make up for previous overproduction." "As we have noted before, the changed internal dynamics in OPEC+ has removed the floor for oil prices. Should we see a renewed escalation of trade tensions or a deterioration of the global growth outlook for some other reason, oil prices could suffer a steep drop."
12:21 Nasdaq 100 rebounds sharply – Société Générale
The Nasdaq 100 has staged a strong recovery from recent lows, forming a higher trough at 17600 points.
The Nasdaq 100 has staged a strong recovery from recent lows, forming a higher trough at 17600 points. However, the index now faces resistance from a descending trend line and a key pivot level at 19235 points, with potential targets at 19700 and 20300 if momentum continues, Société Générale's FX analysts note. Nasdaq 100 eyes resistance at 19235 "Nasdaq 100 has experienced a swift rebound after carving out a higher trough at 17600pts than the one achieved earlier this month at 16540pts. The upside has so far remained contained at the steep descending trend line drawn since February and short of recent pivot high at 19235pts." "A brief consolidation is not ruled out after recent sharp up / down swings. In the event that the bounce extends beyond 19235pts, the 50-DMA near 19700pts and 20300pts would be the next hurdles."
12:16 USD/CAD Price Forecast: Trades lower near 1.3850 after retreating from nine-day EMA
The USD/CAD pair retraces its gains from the previous session, trading around 1.3850 during the European session on Thursday. Daily chart technical analysis highlights a prevailing bearish trend, with the pair continuing its descent within a well-defined descending channel.
.fxs-major-currency-prices-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-major-currency-prices-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-major-currency-prices-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:8px 16px}table.fxs-major-currency-prices-currency-prices-table{width:100%;text-align:center;border-collapse:collapse;font-size:1rem}table.fxs-major-currency-prices-currency-prices-table th{background-color:#f2f2f2}table.fxs-major-currency-prices-currency-prices-table td{color:#fff}table.fxs-major-currency-prices-currency-prices-table td.green{background-color:#9cd6cd}table.fxs-major-currency-prices-currency-prices-table td.red{background-color:#faafb5}table.fxs-major-currency-prices-currency-prices-table td.blue-grey{background-color:#888a93}.fxs-major-currency-prices-currency-prices-legend{font-size:11px;margin:8px;color:#49494f}@media (min-width:680px){.fxs-major-currency-prices-content{font-size:16px;line-height:21.6px}.fxs-major-currency-prices-title{font-size:19.2px;line-height:27.2px}}.fxs-major-currency-prices-currency-price td.dark-green{background-color:#39ad9a}.fxs-major-currency-prices-currency-price td.light-green{background-color:#9cd6cd}.fxs-major-currency-prices-currency-price td.gray{background-color:#888a93}.fxs-major-currency-prices-currency-price td.light-red{background-color:#faafb5}.fxs-major-currency-prices-currency-price td.strong-red{background-color:#f55e6a}USD/CAD finds Initial resistance at the nine-day EMA around 1.3890.The 14-day RSI is positioned above the 30 level, suggesting a continuation of short-term corrective bounce.The pair may find primary support at the six-month low of 1.3781.The USD/CAD pair retraces its gains from the previous session, trading around 1.3850 during the European session on Thursday. Daily chart technical analysis highlights a prevailing bearish trend, with the pair continuing its descent within a well-defined descending channel.Additionally, the USD/CAD pair remains below the nine-day Exponential Moving Average (EMA), reflecting weak short-term momentum. Meanwhile, the 14-day Relative Strength Index (RSI) is positioned above the 30 level, suggesting a continuation of short-term corrective bounce. However, with the RSI still holding below the 50 mark, the broader bearish outlook persists.On the downside, the USD/CAD pair may retest the six-month low of 1.3781, last seen on April 21. A decisive break below this level would strengthen the bearish outlook, potentially guiding the pair toward the lower boundary of the descending channel near the 1.3550 zone, with further support around 1.3419 — its lowest level since February 2024.Initial resistance for USD/CAD is seen at the nine-day EMA around 1.3890, followed by the upper boundary of the descending channel near 1.3970. A breakout above this channel could indicate a shift toward a bullish bias, potentially opening the door for a move toward the 50-day EMA at 1.4144. Further upside could target the next major resistance at 1.4793 — the lowest level recorded since April 2003.USD/CAD: Daily Chart Canadian Dollar PRICE Today The table below shows the percentage change of Canadian Dollar (CAD) against listed major currencies today. Canadian Dollar was the weakest against the Euro. USD EUR GBP JPY CAD AUD NZD CHF USD -0.59% -0.43% -0.60% -0.27% -0.38% -0.59% -0.59% EUR 0.59% 0.16% -0.02% 0.33% 0.19% -0.00% -0.00% GBP 0.43% -0.16% -0.17% 0.16% 0.04% -0.17% -0.16% JPY 0.60% 0.02% 0.17% 0.32% 0.23% -0.03% 0.05% CAD 0.27% -0.33% -0.16% -0.32% -0.08% -0.31% -0.32% AUD 0.38% -0.19% -0.04% -0.23% 0.08% -0.20% -0.22% NZD 0.59% 0.00% 0.17% 0.03% 0.31% 0.20% 0.00% CHF 0.59% 0.00% 0.16% -0.05% 0.32% 0.22% -0.00% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Canadian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent CAD (base)/USD (quote).
12:15 CAD: Relinked with USD before elections – ING
The Canadian Dollar (CAD) has suffered much less than any other G10 currency from the USD rebound since Monday, when it had instead remained flat despite widespread rallies against the US Dollar (USD), ING's FX analyst Francesco Pesole notes.
The Canadian Dollar (CAD) has suffered much less than any other G10 currency from the USD rebound since Monday, when it had instead remained flat despite widespread rallies against the US Dollar (USD), ING's FX analyst Francesco Pesole notes. CAD reconnects with USD as tariff risks fade"Since 'Liberation Day', the loonie and USD have re-linked. This used to be the norm before Trump’s attack on Canada with tariff threats started late last year. The ongoing re-linking has probably been a consequence of Canada being spared 2 April reciprocal tariffs, which allowed markets to default to trading the loonie as an extension of US growth sentiment (a key driver of Canadian activity) and therefore being highly correlated with the USD again.""USD/CAD observed volatility has been significantly lower than other G10 currencies since 'Liberation Day' – confirming the USD/CAD relinking – but the 1-week ATM volatility is trading at around 1.30 to 1-week historical volatility. That is unusual for USD/CAD before federal elections, meaning that markets are attaching a greater FX risk to this vote."Our view is that markets are probably taking hints from polls and pricing in a majority win by the Liberals and current Prime Minister Mark Carney. If that ends up being the result next week, then the CAD impact should be limited and quickly overshadowed by borrowed USD volatility.
12:10 Gold price snaps selling off after fresh Trump comments on tariffs
Gold price (XAU/USD) is turning positive, recovering above the $$3,300 level at the time of writing on Thursday after two days of firm selling pressure since it topped at $3,500 on Tuesday.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}Gold price edges higher on Thursday after two days of firm selling pressure. US President Trump backtracks on earlier statements, China may receive a new tariff rate in the next two to three weeks. Markets are back to square one with equities on the back foot and safe-haven Gold being bid. Gold price (XAU/USD) is turning positive, recovering above the $$3,300 level at the time of writing on Thursday after two days of firm selling pressure since it topped at $3,500 on Tuesday. United States (US) President Donald Trump released more comments from the Oval Office late Wednesday, signaling that China may receive a new tariff rate in the next “two to three weeks” while countries that are currently in the negotiation phase might see reciprocal tariffs come in if negotiations are not going the way Trump wants, Bloomberg reports. Meanwhile, US Treasury Secretary Scott Bessent said on Wednesday that President Trump’s earlier comments were not an offer to take down US tariffs on China on a unilateral basis. When asked if there was no unilateral offer from the president to de-escalate, Bessent said “not at all”, Bloomberg reports. The Treasury Secretary said that the administration is looking at multiple factors, not just tariffs, but including non-tariff barriers and government subsidies for China. Daily digest market movers: SNB books gain on Gold rushThe Swiss National Bank (SNB) has reported that its Gold holdings allowed the central bank to report a profit for the first quarter. The SNB notched up a gain of 6.7 billion Swiss Francs (CHF) from January through March, the central bank said in a statement on Thursday, Bloomberg reports.Gold futures in Shanghai followed the recent sell-off in Gold and priced the largest intraday drop since 2013. Chinese investors rushed to take profit on the assumption that a China-US trade deal was imminent after comments from US President Donald Trump on Tuesday and Wednesday. Several trading firms are still signaling healthy buying taking place in Gold. “The temporary reprieve from Trump has fizzled out,” said Priyanka Sachdeva, a Singapore-based analyst at Philip Nova Pte. “Investors who missed the dip-buying wagon earlier in April drove the rise today.”, Bloomberg reports. Gold Price Technical Analysis: Half-bakedBullion is seeing a slight recovery on Thursday and trades again above $3,300 after a quite harsh correction. Technical traders, though, might not be that rejoicing when looking at the daily price action, with Gold rejected on the topside at $3,367 earlier in the day, which roughly coincides with the daily R1 resistance at $3,363. Looking at technical levels, the daily Pivot Point at $3,311 has already been recovered in early Asian trading, with the R1 intraday resistance already tested and rejected at $3,363. Further up, Gold price could extend the rally to the R2 resistance at $3,438.On the downside, a floor is being formed near $3,245 (April 11 high) as an important technical pivotal level, with the S1 support at $3,236 just underneath it. In case that area does not hold, the S2 support at $3,185 and the technical pivotal level at $3,167 (April 3 high) should hold any downside pressure. XAU/USD: Daily Chart Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets? Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on? The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
12:08 Copper: Risk-on mode – ING
Copper prices extended gains as easing US-China trade tensions and assurances over Fed leadership boosted market sentiment. Trump’s mention of “substantial” tariff cuts sparked a risk-on rally, driving speculative net longs in Copper to a record high.
Copper prices extended gains as easing US-China trade tensions and assurances over Fed leadership boosted market sentiment. Trump’s mention of “substantial” tariff cuts sparked a risk-on rally, driving speculative net longs in Copper to a record high. Meanwhile, supply concerns added support after a major Peruvian mine was shut down due to a fatal incident, ING's commodity experts Ewa Manthey and Warren Patterson note.Copper rally gains momentum on trade optimism"Copper and other industrial metals continued to rise yesterday amid hopes of a de-escalation in trade tensions between the US and China. This was after President Trump floated “substantial” tariff cuts. Also, Trump claiming he has no intention of firing Federal Reserve Chair Jerome Powell added to the risk-on tone in broader financial markets." "On the LME, speculators increased their net long in Copper by 33,352 contracts to 98,765 contracts, according to exchange data. The net-long position was the most bullish on record going back to January 2018. As for Copper supply, the Antamina Copper-zinc mine in Peru was shut down for safety reasons following a fatal incident."
12:04 USD: Turning tide on the options market – Commerzbank
Signs of skepticism can still be seen on the options market.
Signs of skepticism can still be seen on the options market. The latest statements by US President Trump regarding a de-escalation of the tariff conflict with China and the denial that he intends to fire Fed Chair Jay Powell have only slightly reduced the risks for the US dollar in the view of most market participants. Insurance against a sharp fall in the US dollar against the euro (EUR/USD risk reversals) remained at elevated levels yesterday despite the attempts at appeasement. This is accompanied by elevated implied volatility, Commerzbank's FX analyst Thu Lan Nguyen notes. US economy may not overcome the current crisis easily"The options market has thus also seen a clear break since 'Liberation Day'. The risks for EUR-USD have clearly shifted from a market perspective. The chart below shows the relationship between the 3-month implied volatility and the risk reversals for EUR/USD. Before Liberation Day, higher exchange rate volatility generally went hand in hand with higher risks for the euro. However, this has systematically changed since April 2. An increase in volatility has recently been accompanied by rising risks for the greenback.""This once again demonstrates the extent to which the status of the US dollar is being undermined by the Made in Washington political chaos. Whereas investors had previously bet on an outperformance of the dollar against the euro in uncertain times, i.e. when stronger exchange rate fluctuations were to be expected, it is now the other way round. It may be obvious why this is the case: the undeniable source of the current uncertainty is located in the US." "Let's remember the Great Financial Crisis of 2008/2009, which also originated in the US. Back then the US dollar appreciated significantly against the euro at times, acting as a safe haven. This was due not least to the belief in US exceptionalism, i.e. the ability of the US economy to overcome crises of all kinds more quickly than other economic areas. However, this is probably no longer the case, thanks to a US government that is prepared to inflict massive damage on the US economy. And as long as this is the case, USD investors must be prepared for rising hedging costs in times of increasing uncertainty."
11:55 Gold eases from record highs – ING
Gold prices have pulled back from recent record highs above $3,500/oz, as a softer tone from Trump on China and the Fed eased market tension.
Gold prices have pulled back from recent record highs above $3,500/oz, as a softer tone from Trump on China and the Fed eased market tension. Despite the dip, gold remains up over 25% year-to-date, bolstered by persistent volatility, shifting US policies, and strong demand from both ETFs and central banks, ING's commodity experts Ewa Manthey and Warren Patterson note.Gold remains strong on volatility and safe-haven Demand"In precious metals, gold fell from a record high above $3,500/oz reached earlier in the week on Trump’s softer stance on China and the Fed. Prices are still up by more than 25% so far this year, supported by market volatility and ever-changing US policies. The rally has also been supported by increased flows into gold ETF holdings and central bank buying."
11:54 AUD/JPY bounces off daily low, trades with mild negative bias around 91.00 mark
The AUD/JPY cross struggles to capitalize on the previous day's strong move up to the 91.60 area or a nearly three-week high, and attracts some sellers on Thursday.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}AUD/JPY drifts lower on Thursday amid reviving demand for the safe-haven JPY.Hopes for a US-Japan trade deal and BoJ rate hike bets further underpin the JPY.A positive risk tone lends support to the Aussie and helps limit losses for the pair. The AUD/JPY cross struggles to capitalize on the previous day's strong move up to the 91.60 area or a nearly three-week high, and attracts some sellers on Thursday. Spot prices, however, trim a part of modest intraday losses and trade around the 91.00 mark during the first half of the European session, down 0.30% for the day. The latest optimism over a quick resolution to the US-China trade standoff faded rather quickly after US Treasury Secretary Scott Bessent's remarks on Wednesday, which, in turn, drives some safe-haven flows towards the Japanese Yen (JPY). Apart from this, hopes for a US-Japan trade deal and the growing acceptance that the Bank of Japan (BoJ) will hike interest rates further in 2025 underpin the JPY. This, in turn, is seen as a key factor acting as a headwind for the AUD/JPY cross. Meanwhile, traders have been pricing in the possibility of another 25 basis points (bps) interest rate cut by the Reserve Bank of Australia (RBA) in May. This marks a big divergence in comparison to hawkish BoJ expectations, which further contributes to the Australian Dollar's (AUD) relative underperformance and weighs on the AUD/JPY cross. That said, a generally positive tone around the equity markets caps the JPY and lends support to the perceived riskier Aussie.US President Donald Trump backed off from threats to fire Federal Reserve (Fed) Chair Jerome Powell following the intense criticism for not cutting interest rates. Adding to this signs of easing trade tensions between the US and China – the world's two largest economies – remain supportive of the upbeat market mood. This is holding back the JPY bulls from placing aggressive bets and acting as a tailwind for the AUD/JPY cross, warranting some caution for bearish traders. US-China Trade War FAQs What does “trade war” mean? Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade barriers, such as tariffs, which result in counter-barriers, escalating import costs, and hence the cost of living. What is the US-China trade war? An economic conflict between the United States (US) and China began early in 2018, when President Donald Trump set trade barriers on China, claiming unfair commercial practices and intellectual property theft from the Asian giant. China took retaliatory action, imposing tariffs on multiple US goods, such as automobiles and soybeans. Tensions escalated until the two countries signed the US-China Phase One trade deal in January 2020. The agreement required structural reforms and other changes to China’s economic and trade regime and pretended to restore stability and trust between the two nations. However, the Coronavirus pandemic took the focus out of the conflict. Yet, it is worth mentioning that President Joe Biden, who took office after Trump, kept tariffs in place and even added some additional levies. Trade war 2.0 The return of Donald Trump to the White House as the 47th US President has sparked a fresh wave of tensions between the two countries. During the 2024 election campaign, Trump pledged to impose 60% tariffs on China once he returned to office, which he did on January 20, 2025. With Trump back, the US-China trade war is meant to resume where it was left, with tit-for-tat policies affecting the global economic landscape amid disruptions in global supply chains, resulting in a reduction in spending, particularly investment, and directly feeding into the Consumer Price Index inflation.
11:53 GBP: High deficit and weak real economy – Commerzbank
Britain's fiscal challenges are mounting, with the latest data revealing a wider-than-expected budget deficit and deteriorating growth indicators.
Britain's fiscal challenges are mounting, with the latest data revealing a wider-than-expected budget deficit and deteriorating growth indicators. As government spending faces further cuts and the services sector slips into contraction, pressure is building on the Bank of England to loosen policy—potentially weighing further on the pound, Commerzbank's FX analyst Michael Pfister notes. UK budget deficit widens amid weak growth"Yesterday's figures showed once again why the UK is in a difficult situation at the moment. It started with the net borrowing figures for March, which were again slightly higher than expected. For the full fiscal year 2024-2025, which ended in March, borrowing was almost £24bn higher than estimated in October and £14bn higher than estimated in March. Net borrowing is likely to be higher than originally thought.""In an initial analysis, the OBR identified two reasons for the widening deficit: firstly, public sector pay has continued to rise recently, pushing up spending. Second, the weak real economy has significantly reduced revenues. This is not a good sign as it points to a contraction in the real economy.""At this point, you may be wondering why this is relevant to the pound, as developed market currencies tend not to react too strongly to fiscal news. However, the UK's recent growth has been almost entirely based on the public sector. So, not a good sign for the pound: less growth and more rate cuts at the same time."
11:50 ECB’s Rehn: ECB shouldn't rule out a larger interest rate cut
European Central Bank (ECB) policymaker Olli Rehn said on Thursday that the ECB shouldn't rule out a larger interest rate cut.
.fxs-major-currency-prices-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-major-currency-prices-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-major-currency-prices-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:8px 16px}table.fxs-major-currency-prices-currency-prices-table{width:100%;text-align:center;border-collapse:collapse;font-size:1rem}table.fxs-major-currency-prices-currency-prices-table th{background-color:#f2f2f2}table.fxs-major-currency-prices-currency-prices-table td{color:#fff}table.fxs-major-currency-prices-currency-prices-table td.green{background-color:#9cd6cd}table.fxs-major-currency-prices-currency-prices-table td.red{background-color:#faafb5}table.fxs-major-currency-prices-currency-prices-table td.blue-grey{background-color:#888a93}.fxs-major-currency-prices-currency-prices-legend{font-size:11px;margin:8px;color:#49494f}@media (min-width:680px){.fxs-major-currency-prices-content{font-size:16px;line-height:21.6px}.fxs-major-currency-prices-title{font-size:19.2px;line-height:27.2px}}.fxs-major-currency-prices-currency-price td.dark-green{background-color:#39ad9a}.fxs-major-currency-prices-currency-price td.light-green{background-color:#9cd6cd}.fxs-major-currency-prices-currency-price td.gray{background-color:#888a93}.fxs-major-currency-prices-currency-price td.light-red{background-color:#faafb5}.fxs-major-currency-prices-currency-price td.strong-red{background-color:#f55e6a}
European Central Bank (ECB) policymaker Olli Rehn said on Thursday that the ECB shouldn't rule out a larger interest rate cut.Additional quotesThere are a few good reasons to pause rate cuts.Economic risks are starting to materialise.We must retain full freedom of action, be agile.Market reactionFollowing these dovish remarks, EUR/USD is holding 0.57% higher on the day at 1.1380, having tested the 1.1400 level.
Euro PRICE Today The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the US Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -0.54% -0.40% -0.58% -0.25% -0.34% -0.54% -0.53% EUR 0.54% 0.14% -0.03% 0.29% 0.18% -0.00% 0.01% GBP 0.40% -0.14% -0.17% 0.15% 0.05% -0.15% -0.13% JPY 0.58% 0.03% 0.17% 0.33% 0.26% 0.02% 0.11% CAD 0.25% -0.29% -0.15% -0.33% -0.06% -0.28% -0.28% AUD 0.34% -0.18% -0.05% -0.26% 0.06% -0.19% -0.20% NZD 0.54% 0.00% 0.15% -0.02% 0.28% 0.19% 0.02% CHF 0.53% -0.01% 0.13% -0.11% 0.28% 0.20% -0.02% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Euro PRICE Today The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the US Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -0.54% -0.40% -0.58% -0.25% -0.34% -0.54% -0.53% EUR 0.54% 0.14% -0.03% 0.29% 0.18% -0.00% 0.01% GBP 0.40% -0.14% -0.17% 0.15% 0.05% -0.15% -0.13% JPY 0.58% 0.03% 0.17% 0.33% 0.26% 0.02% 0.11% CAD 0.25% -0.29% -0.15% -0.33% -0.06% -0.28% -0.28% AUD 0.34% -0.18% -0.05% -0.26% 0.06% -0.19% -0.20% NZD 0.54% 0.00% 0.15% -0.02% 0.28% 0.19% 0.02% CHF 0.53% -0.01% 0.13% -0.11% 0.28% 0.20% -0.02% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
11:45 USD: Does Bessent care about a dollar rebound? – ING
The dollar recovery is extending thanks to a broader de-escalation by the Trump administration on both US protectionism and Fed independence.
The dollar recovery is extending thanks to a broader de-escalation by the Trump administration on both US protectionism and Fed independence. There is probably a feeling from market participants that they have regained some 'control' on the US government, and can somehow force a more friendly stance on key topics. That assumption is however far from a guarantee. Risk assets were already wrongfooted once by Trump's 90-day tariff pause only to get hit with substantial hikes in Chinese duties shortly after, ING's FX analyst Francesco Pesole notes. Dollar climbs on Trump’s softer tone"As highlighted in recent commentaries, there isn't a G10 currency with a higher positive beta to news of tariff de-escalation than the dollar. What we have seen in the past few weeks is a clear skew towards bearish USD sentiment which mirrored a lack of trust in the US as an investment environment. Markets will be highly tempted to sell the dollar in the rallies at the slightest indication that Trump's more conciliatory tone on China and the Fed is changing. In other words, investors will be seeking confirmation of the more optimistic stance on US assets to justify further dollar gains.""Alongside indications from Trump that China will soon get a new tariff rate, a lot of focus was on yesterday's comments by Treasury Secretary Scott Bessent at an IIF event. We think it's quite relevant that he again reiterated the US has a 'strong dollar policy'. We have suspected that the plans for a weaker dollar would have only come after an initial positive USD response to tariffs had helped shield US consumers from protectionism-led inflation. If Bessent sounded at ease with some reserve flows heading to the euro, he also affirmed that the haven status of the dollar won't be dented.""We sense the Treasury has been unhappy with the sudden loss of confidence in the greenback, and Bessent has appeared to offer some verbal support in back-to-back remarks on Tuesday and Wednesday. So far, it has worked. The dollar rebounded from Monday’s selloff, but – as discussed – we think Trump needs to keep feeding markets with positive news to fuel further dollar gains from here. Already this morning, we are seeing a tendency to sell the dollar rallies, with USD/JPY more than half a percent off overnight the 143.50 peak."
11:39 Energy: OPEC+ struggles – ING
While a risk-on move lifted most risk assets yesterday, oil was left behind thanks to OPEC+ discord. ICE Brent settled almost 2% lower on the day amid concerns about aggressive supply hikes from OPEC+.
While a risk-on move lifted most risk assets yesterday, oil was left behind thanks to OPEC+ discord. ICE Brent settled almost 2% lower on the day amid concerns about aggressive supply hikes from OPEC+. This comes after Kazakhstan said that it’s unable to lower oil output and plans to prioritise domestic interests over OPEC+ obligations, ING's commodity experts Ewa Manthey and Warren Patterson note.OPEC+ members are pushing for aggressive supply hikes in June"Kazakhstan has been pumping well above its production target following an expansion project at the Tengiz field. This led to reports that other OPEC+ members are pushing for aggressive supply hikes in June. Earlier this month, OPEC+ surprised the market by increasing supply by 411k b/d in May, more than the 138k b/d planned. This larger-than-expected increase comes as demand estimates are being cut amid ongoing trade tensions. Further disagreement between OPEC+ members is a clear downside risk, as it could lead to a price war.""However, the prompt ICE Brent timspread remains well supported. It’s trading at a backwardation of near US$1/bbl, suggesting tightness in the spot market. Energy Information Administration data yesterday showed a modest increase in crude oil inventories, with stocks growing by 244k barrels over the last week." "This was significantly at odds with the 4.75m barrel decline that the American Petroleum Institute reported the previous day. Inventory changes for refined products were more constructive, with gasoline and distillate stocks falling by 4.48m barrels and 2.35m barrels, respectively. The move was driven by stronger implied demand as gasoline demand increased by 952k b/d week on week. Gasoline inventories have fallen for eight consecutive weeks, leaving them at the lowest level since December. The RBOB crack moved higher on the back of this release."
11:26 EUR: Don't dismiss downside potential – ING
As investors breathe a sigh of relief after Trump reassured them he is not seeking to remove Fed Chair Powell, the upside potential for EUR/USD has shrunk, EUR/USD has more room to fall, ING's FX analyst Francesco Pesole notes.
As investors breathe a sigh of relief after Trump reassured them he is not seeking to remove Fed Chair Powell, the upside potential for EUR/USD has shrunk, EUR/USD has more room to fall, ING's FX analyst Francesco Pesole notes. A break below 1.130 can open the door for a bigger leg lower "Our view is that a still fragile dollar requires a constant flow of positive headlines to find additional support. That is no guarantee, but if the US administration is indeed seeking to fuel a market recovery." "After all, our model still shows the pair is trading close to 3.5% above its short-term fair value. That is, the excess risk premium applied to the dollar after rate and equity differentials are taken into account. An important disclaimer is that the model looks at one-year rolling correlations, and high volatility tends to reduce the explanatory power. That said, we have little doubt the dollar retains a risk premium. Incidentally, positioning data has indicated the euro is the most overbought currency in the G10 after the yen.""We repeatedly warned our readers that picking a top in EUR/USD throughout this historical rally was risky. We know think the dollar recovery potential shouldn't be underestimated. The 1.130 area is key: in the past couple of weeks, attempted EUR/USD corrections faced heavy buying interest around that level. A decisive break below 1.130 can open the door for a bigger leg lower and probably signal a shift in interest to rebuild some strategic dollar longs."
11:26 NZD/USD advances to near 0.6000 ahead of US Initial Jobless Claims data
NZD/USD edges higher after two consecutive sessions of losses, trading near 0.5980 during European hours on Thursday.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}NZD/USD appreciates due to renewed optimism over potential US-China trade negotiations.The White House is considering cutting tariffs on Chinese imports by up to 50% in a bid for meaningful dialogue.The RBNZ is widely expected to deliver a 25 basis point rate cut in its upcoming May meeting.NZD/USD edges higher after two consecutive sessions of losses, trading near 0.5980 during European hours on Thursday. The pair gains traction as the New Zealand Dollar (NZD) gains amid renewed optimism over potential US-China trade negotiations, with markets drawing support from the close trade ties between China and New Zealand.According to The Wall Street Journal, the White House is considering cutting tariffs on Chinese imports by up to 50% in a bid to create space for meaningful dialogue. US Treasury Secretary Scott Bessent acknowledged that the current tariff levels—145% on Chinese imports and 125% on US exports—are unsustainable and must be revised to pave the way for constructive talks. However, he made it clear that President Donald Trump will not act alone on the issue.Trump reiterated that any tariff revisions depend on China’s willingness to negotiate. “If we don't reach a deal, we're simply setting the price—then it’s up to them to decide if they want to proceed,” he said, emphasizing that the 145% tariff rate remains in place due to limited trade activity.Meanwhile, expectations are rising that the Reserve Bank of New Zealand (RBNZ) will lower its Official Cash Rate (OCR) in its upcoming May meeting. Markets are fully pricing in a 25 basis-point cut from the current 3.5%, with further easing to 2.75% expected by year-end.Traders now look ahead to key US data releases scheduled for later Thursday, including Initial Jobless Claims, the Chicago Fed National Activity Index, Durable Goods Orders, and Existing Home Sales. New Zealand Dollar FAQs What key factors drive the New Zealand Dollar? The New Zealand Dollar (NZD), also known as the Kiwi, is a well-known traded currency among investors. Its value is broadly determined by the health of the New Zealand economy and the country’s central bank policy. Still, there are some unique particularities that also can make NZD move. The performance of the Chinese economy tends to move the Kiwi because China is New Zealand’s biggest trading partner. Bad news for the Chinese economy likely means less New Zealand exports to the country, hitting the economy and thus its currency. Another factor moving NZD is dairy prices as the dairy industry is New Zealand’s main export. High dairy prices boost export income, contributing positively to the economy and thus to the NZD. How do decisions of the RBNZ impact the New Zealand Dollar? The Reserve Bank of New Zealand (RBNZ) aims to achieve and maintain an inflation rate between 1% and 3% over the medium term, with a focus to keep it near the 2% mid-point. To this end, the bank sets an appropriate level of interest rates. When inflation is too high, the RBNZ will increase interest rates to cool the economy, but the move will also make bond yields higher, increasing investors’ appeal to invest in the country and thus boosting NZD. On the contrary, lower interest rates tend to weaken NZD. The so-called rate differential, or how rates in New Zealand are or are expected to be compared to the ones set by the US Federal Reserve, can also play a key role in moving the NZD/USD pair. How does economic data influence the value of the New Zealand Dollar? Macroeconomic data releases in New Zealand are key to assess the state of the economy and can impact the New Zealand Dollar’s (NZD) valuation. A strong economy, based on high economic growth, low unemployment and high confidence is good for NZD. High economic growth attracts foreign investment and may encourage the Reserve Bank of New Zealand to increase interest rates, if this economic strength comes together with elevated inflation. Conversely, if economic data is weak, NZD is likely to depreciate. How does broader risk sentiment impact the New Zealand Dollar? The New Zealand Dollar (NZD) tends to strengthen during risk-on periods, or when investors perceive that broader market risks are low and are optimistic about growth. This tends to lead to a more favorable outlook for commodities and so-called ‘commodity currencies’ such as the Kiwi. Conversely, NZD tends to weaken at times of market turbulence or economic uncertainty as investors tend to sell higher-risk assets and flee to the more-stable safe havens.
11:06 German IFO Business Climate Index improved slightly to 86.9 in April vs. 85.2 expected
Business sentiment in Germany improved slightly in April, with the IFO Business Climate Index rising to 86.9 in April from 86.7 in March. This reading came in above the market expectation of 85.2.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}German IFO Business Climate Index rose unexpectedly in April.EUR/USD extends recovery toward 1.1400 in the European session.Business sentiment in Germany improved slightly in April, with the IFO Business Climate Index rising to 86.9 in April from 86.7 in March. This reading came in above the market expectation of 85.2.Other details of the report showed that the IFO Current Assessment Index rose to 86.4 from 85.7 in the same period, while the Expectations Index edged lower to 87.4 from 87.7.Market reactionEUR/USD holds its ground following these data. At the time of press, EUR/USD was up 0.6% on the day at 1.1382. German economy FAQs What is the effect of the German Economy on the Euro? The German economy has a significant impact on the Euro due to its status as the largest economy within the Eurozone. Germany's economic performance, its GDP, employment, and inflation, can greatly influence the overall stability and confidence in the Euro. As Germany's economy strengthens, it can bolster the Euro's value, while the opposite is true if it weakens. Overall, the German economy plays a crucial role in shaping the Euro's strength and perception in global markets. What is the political role of Germany within the Eurozone? Germany is the largest economy in the Eurozone and therefore an influential actor in the region. During the Eurozone sovereign debt crisis in 2009-12, Germany was pivotal in setting up various stability funds to bail out debtor countries. It took a leadership role in the implementation of the 'Fiscal Compact' following the crisis – a set of more stringent rules to manage member states’ finances and punish ‘debt sinners’. Germany spearheaded a culture of ‘Financial Stability’ and the German economic model has been widely used as a blueprint for economic growth by fellow Eurozone members. What are German Bunds? Bunds are bonds issued by the German government. Like all bonds they pay holders a regular interest payment, or coupon, followed by the full value of the loan, or principal, at maturity. Because Germany has the largest economy in the Eurozone, Bunds are used as a benchmark for other European government bonds. Long-term Bunds are viewed as a solid, risk-free investment as they are backed by the full faith and credit of the German nation. For this reason they are treated as a safe-haven by investors – gaining in value in times of crisis, whilst falling during periods of prosperity. What are German Bund Yields? German Bund Yields measure the annual return an investor can expect from holding German government bonds, or Bunds. Like other bonds, Bunds pay holders interest at regular intervals, called the ‘coupon’, followed by the full value of the bond at maturity. Whilst the coupon is fixed, the Yield varies as it takes into account changes in the bond's price, and it is therefore considered a more accurate reflection of return. A decline in the bund's price raises the coupon as a percentage of the loan, resulting in a higher Yield and vice versa for a rise. This explains why Bund Yields move inversely to prices. What is the Bundesbank? The Bundesbank is the central bank of Germany. It plays a key role in implementing monetary policy within Germany, and central banks in the region more broadly. Its goal is price stability, or keeping inflation low and predictable. It is responsible for ensuring the smooth operation of payment systems in Germany and participates in the oversight of financial institutions. The Bundesbank has a reputation for being conservative, prioritizing the fight against inflation over economic growth. It has been influential in the setup and policy of the European Central Bank (ECB).
11:01 Germany IFO – Expectations came in at 87.4, above expectations (85) in April
Germany IFO – Expectations came in at 87.4, above expectations (85) in April
11:00 Germany IFO – Business Climate above expectations (85.2) in April: Actual (86.9)
Germany IFO – Business Climate above expectations (85.2) in April: Actual (86.9)
11:00 Germany IFO – Current Assessment came in at 86.4, above forecasts (85.5) in April
Germany IFO – Current Assessment came in at 86.4, above forecasts (85.5) in April
10:52 EUR/GBP rises above 0.8550 due to optimism over potential US-China trade negotiations
EUR/GBP edges higher after two consecutive sessions of losses, trading near 0.8560 during early European hours on Thursday. The currency cross gains traction as the Euro (EUR) finds support amid renewed optimism over potential US-China trade negotiations.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}EUR/GBP appreciates as the Euro finds support amid renewed optimism over potential US-China trade negotiations.US Treasury Secretary Bessent admitted that the existing US-China tariffs are unsustainable and must be lowered for meaningful negotiations.China prepares to lift sanctions on several MEPs, aiming to revive the stalled EU–China Comprehensive Agreement on Investment.EUR/GBP edges higher after two consecutive sessions of losses, trading near 0.8560 during early European hours on Thursday. The currency cross gains traction as the Euro (EUR) finds support amid renewed optimism over potential US-China trade negotiations. According to The Wall Street Journal, the White House is considering slashing tariffs on Chinese imports by up to 50% to create space for dialogue.US Treasury Secretary Scott Bessent acknowledged that the current tariff levels—145% on Chinese goods and 125% on US goods—are unsustainable and need to be reduced to enable serious talks. However, Bessent emphasized that US President Donald Trump will not act unilaterally. Meanwhile, National Economic Council Director Kevin Hassett warned that a comprehensive trade deal could take as long as two to three years to materialize.President Trump reinforced that tariff revisions hinge on China's willingness to engage in talks. “If we don't reach a deal, we're simply setting the price—then it’s up to them to decide if they want to proceed,” he stated, underlining that the 145% tariff rate remains in effect due to limited trade with China.In parallel, China is reportedly preparing to lift sanctions on several Members of the European Parliament (MEPs) as a gesture of goodwill, aiming to revive the stalled EU–China Comprehensive Agreement on Investment (CAI). A spokesperson for European Parliament President Roberta Metsola confirmed that discussions with Chinese counterparts are nearing conclusion and that she will update parliamentary group leaders once a formal decision is announced.The British Pound (GBP) may face headwinds due to rising expectations of a Bank of England (BoE) rate cut. Markets are currently pricing in an 82% probability of a rate reduction at the BoE’s May meeting, driven in part by the broader impact of Trump’s shifting trade policy on the global economy, according to LSEG data. Tariffs FAQs What are tariffs? Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas. What is the difference between taxes and tariffs? Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers. Are tariffs good or bad? There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs. What is US President Donald Trump’s tariff plan? During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.
10:49 EUR/USD finds support as US Dollar struggles to extend recovery
EUR/USD finds cushion near 1.1300 during European trading hours on Thursday after a two-day correction. The major currency pair tests ground as the US Dollar (USD) faces pressure as it attempts to extend its recent recovery.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}EUR/USD attracts some bids near 1.1300 as the US Dollar faces downward pressure after a two-day recovery.Washington has shown openness to reach a trade deal with China.ECB Nagel warns that the German economy could enter a mild recession.EUR/USD finds cushion near 1.1300 during European trading hours on Thursday after a two-day correction. The major currency pair tests ground as the US Dollar (USD) faces pressure as it attempts to extend its recent recovery. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, struggles to break above the immediate high around 100.00.Despite Thursday’s mild losses, financial market participants seem to be pricing in a further recovery in the US Dollar in the near term amid increasing hopes of a de-escalation in the trade war between the United States (US) and China. Washington has shown a willingness to get to the table with Beijing, but these can’t proceed without a reduction in critically higher tariff rates.Currently, the US has imposed additional 145% tariffs on Chinese products, inclusive of a 20% fentanyl levy, and Beijing has increased duties by 125% on imports from the US. "Neither side believes that these are sustainable levels,” US Treasury Secretary Scott Bessent said on Wednesday. The Wall Street Journal (WSJ) reported on Wednesday that the administration could reduce additional tariffs on China to between roughly 50% and 65%.On Tuesday, US President Donald Trump also signaled that “discussions with Beijing are going well” and added that he thinks “they will reach a deal”. Trump further added that tariffs on China would not be as high as “145%, but they wouldn’t be zero”.However, in the longer term, investors still doubt the strength of the US Dollar as domestic business activity has been hit hard by fears of a potential economic slowdown. The flash S&P Global Purchasing Managers’ Index (PMI) report showed on Wednesday that tariffs are causing companies to “hike their selling prices at a pace not seen for over a year”. The agency warned that these higher prices will “inevitably feed through to higher consumer inflation, potentially limiting the scope for the Federal Reserve (Fed) to reduce interest rates at a time when a slowing economy looks in need of a boost”.Daily digest market movers: EUR/USD rebounds slightly as Euro gainsA slight recovery move in the EUR/USD pair is also driven by brief strength in the Euro (EUR). The major currency gains even though traders have become increasingly confident that the European Central Bank (ECB) will cut interest rates in the June policy meeting. The reason behind accelerating ECB dovish bets is officials’ confidence that inflation will return to the central bank’s target of 2% this year.On Wednesday, ECB policymaker and Bundesbank President Joachim Nagel reiterated that he expects “Eurozone inflation to return to 2% over the course of this year”, even when the “level of uncertainty is extraordinarily high”, Reuters reports. Nagel warned that the German economy could see a mild “recession” for the third year in a row in the face of tariffs announced by US President Trump. Apart from ECB monetary policy expectations, the major trigger for the Euro is negotiations between the European Union (EU) and Washington. Though both nations have shown openness to have a deal and maintain healthy trade relations, there has not been much progress since April 7, when EU trade commissioner Maros Sefcovic stated that the administration has offered the US “zero-for-zero tariffs” for cars and all industrial goods.Also, German Finance Minister (FM) Joerg Kukies indicated that he is hopeful of having a trade agreement with the US while interviewed by Deutschlandfunk broadcaster on Wednesday. Kukies answered diplomatically and drew scenarios. "The position is very simple: Plan A is that we want an agreement and the tariffs should go down instead of going up, and Plan B is if this doesn’t work, we will use countermeasures.”, he said.Technical Analysis: EUR/USD gauges ground near 1.1300EUR/USD strives to gain ground after a two-day correction to near 1.1300 on Thursday. The major currency pair had shown a strong rally in the last few weeks after a breakout above the September 25 high of 1.1215. Advancing 20-week Exponential Moving Average (EMA) near 1.0850 suggests a strong upside trend.The 14-week Relative Strength Index (RSI) climbs near overbought levels above 70.00, which indicates a strong bullish momentum, but chances of some correction cannot be ruled out.Looking up, the round-level figure of 1.1600 will be the major resistance for the pair. Conversely, the July 2023 high of 1.1276 will be a key support for the Euro bulls. Euro FAQs What is the Euro? The Euro is the currency for the 19 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day.
EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%). What is the ECB and how does it impact the Euro? The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy.
The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa.
The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde. How does inflation data impact the value of the Euro? Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control.
Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money. How does economic data influence the value of the Euro? Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency.
A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall.
Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy. How does the Trade Balance impact the Euro? Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period.
If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
10:30 Chinese Foreign Ministry: China and the US are not yet in talks on tariffs
Guo Jiakun, a Chinese Foreign Ministry spokesperson, noted on Thursday, “China and the US are not yet in talks on tariffs.”
.fxs-related-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-related-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-related-module-related-link a{font-size:19.2px;line-height:25.92px}.fxs-related-module-related-link a{text-decoration:none;color:#1b1c23;font-weight:700;font-size:16px;font-style:normal;line-height:20px}.fxs-related-module-related-link a:hover,.fxs-related-module-related-link:hover,.fxs-related-module-related-link:hover a{color:#e4871b}.fxs-related-module-related-link a:hover{text-decoration:none}@media (min-width:680px){.fxs-related-module-title{font-size:19.2px;line-height:27.2px}.fxs-related-module-related-link a{font-size:19.2px;line-height:25.92px}}
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
Guo Jiakun, a Chinese Foreign Ministry spokesperson, noted on Thursday, “China and the US are not yet in talks on tariffs.”Additional takeawaysRespect is condition for any talks to happen.US needs to stop threats if it wants talks.US 'tariff tsunami' breaks WTO rules. Related news Australian Dollar struggles due to a potential 25 bps rate cut by RBA in May China’s Commerce Ministry: There have not been economic and trade talks between China and US FX alert: It’s a flip-flop market in flip-flop season Tariffs FAQs What are tariffs? Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas. What is the difference between taxes and tariffs? Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers. Are tariffs good or bad? There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs. What is US President Donald Trump’s tariff plan? During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.
10:28 China’s Commerce Ministry: There have not been economic and trade talks between China and US
The Chinese Commerce Ministry said on Thursday that “there have not been economic and trade negotiations between China and the US.”
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
The Chinese Commerce Ministry said on Thursday that “there have not been economic and trade negotiations between China and the US.”Further quotesThere have not been economic and trade negotiations between China and the US.Any content about China-US economic and trade negotiations is 'groundless and has no factual basis'.Any negotiation needs to be conducted on the basis of mutual respect and equality.China urges us to show sincerity if it wants to talks.If US really wants to resolve the issue, it should lift all unilateral tariff measures against China.Market reactionAUD/USD is rebounding toward 0.6400, trading at 0.6375, up 0.11% on the day at the press time. US-China Trade War FAQs What does “trade war” mean? Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade barriers, such as tariffs, which result in counter-barriers, escalating import costs, and hence the cost of living. What is the US-China trade war? An economic conflict between the United States (US) and China began early in 2018, when President Donald Trump set trade barriers on China, claiming unfair commercial practices and intellectual property theft from the Asian giant. China took retaliatory action, imposing tariffs on multiple US goods, such as automobiles and soybeans. Tensions escalated until the two countries signed the US-China Phase One trade deal in January 2020. The agreement required structural reforms and other changes to China’s economic and trade regime and pretended to restore stability and trust between the two nations. However, the Coronavirus pandemic took the focus out of the conflict. Yet, it is worth mentioning that President Joe Biden, who took office after Trump, kept tariffs in place and even added some additional levies. Trade war 2.0 The return of Donald Trump to the White House as the 47th US President has sparked a fresh wave of tensions between the two countries. During the 2024 election campaign, Trump pledged to impose 60% tariffs on China once he returned to office, which he did on January 20, 2025. With Trump back, the US-China trade war is meant to resume where it was left, with tit-for-tat policies affecting the global economic landscape amid disruptions in global supply chains, resulting in a reduction in spending, particularly investment, and directly feeding into the Consumer Price Index inflation.
10:11 Forex Today: Easing geopolitical tensions support USD ahead of mid-tier data
Here is what you need to know on Thursday, April 24:
.fxs-major-currency-prices-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-major-currency-prices-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-major-currency-prices-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:8px 16px}table.fxs-major-currency-prices-currency-prices-table{width:100%;text-align:center;border-collapse:collapse;font-size:1rem}table.fxs-major-currency-prices-currency-prices-table th{background-color:#f2f2f2}table.fxs-major-currency-prices-currency-prices-table td{color:#fff}table.fxs-major-currency-prices-currency-prices-table td.green{background-color:#9cd6cd}table.fxs-major-currency-prices-currency-prices-table td.red{background-color:#faafb5}table.fxs-major-currency-prices-currency-prices-table td.blue-grey{background-color:#888a93}.fxs-major-currency-prices-currency-prices-legend{font-size:11px;margin:8px;color:#49494f}@media (min-width:680px){.fxs-major-currency-prices-content{font-size:16px;line-height:21.6px}.fxs-major-currency-prices-title{font-size:19.2px;line-height:27.2px}}.fxs-major-currency-prices-currency-price td.dark-green{background-color:#39ad9a}.fxs-major-currency-prices-currency-price td.light-green{background-color:#9cd6cd}.fxs-major-currency-prices-currency-price td.gray{background-color:#888a93}.fxs-major-currency-prices-currency-price td.light-red{background-color:#faafb5}.fxs-major-currency-prices-currency-price td.strong-red{background-color:#f55e6a}
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
Here is what you need to know on Thursday, April 24:The US Dollar (USD) stays resilient against its peers early Thursday after posting gains for two consecutive days. The weekly Initial Jobless Claims figures, Durable Goods Orders and Existing Home Sales data for March will be featured in the US economic calendar. Investors will continue to assess the latest developments surrounding the US-China trade conflict and pay close attention to comments from central bankers. US Dollar PRICE This week The table below shows the percentage change of US Dollar (USD) against listed major currencies this week. US Dollar was the strongest against the Swiss Franc. USD EUR GBP JPY CAD AUD NZD CHF USD 0.31% 0.12% 0.33% 0.00% 0.11% -0.62% 1.22% EUR -0.31% -0.34% 0.00% -0.33% -0.39% -0.96% 0.88% GBP -0.12% 0.34% 0.51% 0.00% -0.05% -0.62% 1.23% JPY -0.33% 0.00% -0.51% -0.34% -0.34% -0.82% 0.92% CAD -0.01% 0.33% -0.00% 0.34% -0.01% -0.62% 1.24% AUD -0.11% 0.39% 0.05% 0.34% 0.00% -0.56% 1.28% NZD 0.62% 0.96% 0.62% 0.82% 0.62% 0.56% 1.89% CHF -1.22% -0.88% -1.23% -0.92% -1.24% -1.28% -1.89% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
The Wall Street Journal reported on Wednesday that the White House was considering slashing tariffs on Chinese goods to de-escalate the trade conflict. Later in the day, United States (US) Treasury Secretary Scott Bessent noted that President Donald Trump has not offered to lower tariffs on China unilaterally but said that current tariff levels are not sustainable for either, adding that he would not be surprised if they were to come down in a mutual way. Wall Street's main indexes ended the day decisively higher on Wednesday and the USD Index closed in positive territory. Meanwhile, the data from the US showed that the private sector's business activity continued to expand, albeit at a softening pace in April, with the S&P Global Composite PMI declining to 51.2 from 53.5. Early Thursday, US stock index futures trade marginally lower and the USD Index consolidates its gains at around 99.50.Following Tuesday's sharp decline, EUR/USD held steady during the first half of the day on Wednesday before losing its footing during the American trading hours. After losing nearly 1% on the day, EUR/USD stages a technical correction and trades in positive territory at around 1.1350 in the European morning on Thursday. IFO sentiment data from Germany will be watched closely by investors later in the session. Several European Central Bank (ECB) policymakers will be delivering speeches as well.GBP/USD extended its decline on Wednesday and registered its lowest daily close in a week below 1.3250. The pair edges higher in the early European session but remains below 1.3300. While speaking at the International Monetary Fund (IMF) event, Bank of England (BoE) Governor Andrew Bailey said that the central bank must take the risk to economic growth from global trade disruption very seriously.Gold failed to shake off the bearish pressure on Wednesday and lost more than 2.5% on the day. After dropping all the way to $3,260, XAU/USD regained its traction and reclaimed $3,300. At the time of press, the precious metal was trading at around $3,320, rising about 1% on the day.USD/JPY gathered bullish momentum and gained more than 1% on Wednesday. The pair corrects lower and trades below 143.00 in the European morning on Thursday. In the Asian session on Friday, market participants will pay close attention to Tokyo Consumer Price Index data for April. US-China Trade War FAQs What does “trade war” mean? Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade barriers, such as tariffs, which result in counter-barriers, escalating import costs, and hence the cost of living. What is the US-China trade war? An economic conflict between the United States (US) and China began early in 2018, when President Donald Trump set trade barriers on China, claiming unfair commercial practices and intellectual property theft from the Asian giant. China took retaliatory action, imposing tariffs on multiple US goods, such as automobiles and soybeans. Tensions escalated until the two countries signed the US-China Phase One trade deal in January 2020. The agreement required structural reforms and other changes to China’s economic and trade regime and pretended to restore stability and trust between the two nations. However, the Coronavirus pandemic took the focus out of the conflict. Yet, it is worth mentioning that President Joe Biden, who took office after Trump, kept tariffs in place and even added some additional levies. Trade war 2.0 The return of Donald Trump to the White House as the 47th US President has sparked a fresh wave of tensions between the two countries. During the 2024 election campaign, Trump pledged to impose 60% tariffs on China once he returned to office, which he did on January 20, 2025. With Trump back, the US-China trade war is meant to resume where it was left, with tit-for-tat policies affecting the global economic landscape amid disruptions in global supply chains, resulting in a reduction in spending, particularly investment, and directly feeding into the Consumer Price Index inflation.
10:05 EUR/INR today: Indian Rupee cross rates edge higher at the start of the European session
Indian Rupee (INR) crosses trade on the front foot at the beginning of Thursday, according to FXStreet data. The Euro (EUR) to the Indian Rupee changes hands at 97.05, with the EUR/INR pair rising from its previous close at 96.57.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
Indian Rupee (INR) crosses trade on the front foot at the beginning of Thursday, according to FXStreet data. The Euro (EUR) to the Indian Rupee changes hands at 97.05, with the EUR/INR pair rising from its previous close at 96.57.Meanwhile, the Pound Sterling (GBP) trades at 113.49 against the INR in the early European trading hours, also advancing after the GBP/INR pair settled at 113.30 at the previous close. Indian economy FAQs How does the Indian economy impact the Indian Rupee? The Indian economy has averaged a growth rate of 6.13% between 2006 and 2023, which makes it one of the fastest growing in the world. India’s high growth has attracted a lot of foreign investment. This includes Foreign Direct Investment (FDI) into physical projects and Foreign Indirect Investment (FII) by foreign funds into Indian financial markets. The greater the level of investment, the higher the demand for the Rupee (INR). Fluctuations in Dollar-demand from Indian importers also impact INR. What is the impact of Oil prices on the Rupee? India has to import a great deal of its Oil and gasoline so the price of Oil can have a direct impact on the Rupee. Oil is mostly traded in US Dollars (USD) on international markets so if the price of Oil rises, aggregate demand for USD increases and Indian importers have to sell more Rupees to meet that demand, which is depreciative for the Rupee. How does inflation in India impact the Rupee? Inflation has a complex effect on the Rupee. Ultimately it indicates an increase in money supply which reduces the Rupee’s overall value. Yet if it rises above the Reserve Bank of India’s (RBI) 4% target, the RBI will raise interest rates to bring it down by reducing credit. Higher interest rates, especially real rates (the difference between interest rates and inflation) strengthen the Rupee. They make India a more profitable place for international investors to park their money. A fall in inflation can be supportive of the Rupee. At the same time lower interest rates can have a depreciatory effect on the Rupee. How does seasonal US Dollar demand from importers and banks impact the Rupee? India has run a trade deficit for most of its recent history, indicating its imports outweigh its exports. Since the majority of international trade takes place in US Dollars, there are times – due to seasonal demand or order glut – where the high volume of imports leads to significant US Dollar- demand. During these periods the Rupee can weaken as it is heavily sold to meet the demand for Dollars. When markets experience increased volatility, the demand for US Dollars can also shoot up with a similarly negative effect on the Rupee.
09:46 France Consumer Confidence above forecasts (91) in April: Actual (92)
France Consumer Confidence above forecasts (91) in April: Actual (92)
09:40 US Dollar Index loses ground as uncertainty persists over Trump’s tariff policy
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, edges lower to near 99.60 on Thursday amid mitigating concerns over potential tariff threats by US President Donald Trump.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}The US Dollar Index takes a breather in Thursday’s early European session. Tariff uncertainty is raising costs in the US, according to the Fed’s Beige Book. US business activity slowed to a 16-month low in April.The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, edges lower to near 99.60 on Thursday amid mitigating concerns over potential tariff threats by US President Donald Trump. Businesses dealing with the early stages of Trump’s tariffs are looking for ways to pass increasing costs onto consumers, according to the Federal Reserve’s (Fed) Beige Book report on Wednesday. Companies reported receiving alerts from suppliers about increased prices, and they looked to find ways not to absorb the increases while noting uncertainty over the ability to pass them along to customers. The cloudy US economic outlook triggered by Trump's tariff threats could weigh on the USD against its rivals in the near term. US Treasury Secretary Scott Bessent said on Tuesday that the ongoing tariff showdown against China is unsustainable, and he expects a “de-escalation” in the trade war between the world’s two largest economies in the near future. However, the Trump administration noted late Wednesday that the US will set tariffs for China over the next two to three weeks, and it depends on China how soon tariffs can come down. Investors will closely watch the developments surrounding US-China trade talks. Any signs of renewed escalation could contribute to the USD’s downside.Data released on Wednesday revealed that the S&P Global's Flash US Composite PMI Output Index, which tracks the manufacturing and services sectors, eased to 51.2 in April versus 53.3 prior. This figure registered the lowest level since December 2023. Meanwhile, the Manufacturing PMI rose to 50.7 in April from the previous reading of 50.2, better than the estimation of 49.4. The Services PMI declined to 51.4 in April from 54.4 in March, below the market consensus of 52.8. On the other hand, the hawkish remarks from the Fed officials might help limit the USD’s losses. Fed Chair Jerome Powell said last week that the US central bank was in no rush to move on interest rates but cautioned Trump's tariff policies risked pushing inflation and employment further from the Fed's goals. US Dollar FAQs What is the US Dollar? The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022.
Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away. How do the decisions of the Federal Reserve impact the US Dollar? The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates.
When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback. What is Quantitative Easing and how does it influence the US Dollar? In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system.
It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar. What is Quantitative Tightening and how does it influence the US Dollar? Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.
09:39 Palladium price today: Rare metals advance at the start of the European session
Platinum Group Metals (PGMs) trade with a positive tone at the beginning of Thursday, according to FXStreet data.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
Platinum Group Metals (PGMs) trade with a positive tone at the beginning of Thursday, according to FXStreet data. Palladium (XPD) changes hands at $946.47 a troy ounce, with the XPD/USD pair advancing from its previous close at $941.45.
In the meantime, Platinum (XPT) trades at $977.23 against the United States Dollar (USD) early in the European session, also up after the XPT/USD pair settled at $976.70 at the previous close.
Palladium FAQs Why do people buy Palladium?
Palladium is a rare and valuable precious metal with strong industrial demand, particularly in the automotive sector. It is widely used in catalytic converters to reduce vehicle emissions, making it essential for global environmental regulations. Investors also see palladium as a store of value, similar to gold and silver, and a potential hedge against inflation. Given its supply constraints and high demand, palladium often attracts traders looking for price volatility and profit opportunities. What is Palladium in trading?
In trading, palladium (XPD/USD) is considered both an industrial and a precious metal. It is traded on major commodity exchanges like the New York Mercantile Exchange (NYMEX) and the London Platinum and Palladium Market (LPPM). Traders speculate on palladium prices through futures contracts, exchange-traded funds (ETFs), and spot markets. Since palladium supply is concentrated in a few countries, particularly Russia and South Africa, geopolitical and mining disruptions can lead to significant price swings, making it an attractive asset for short-term traders and long-term investors alike. Is Palladium more expensive than Gold?
Palladium has historically been less expensive than gold, but in recent years, it has traded at a premium due to rising demand and tight supply. Prices fluctuate based on market conditions, but palladium has, at times, outperformed gold due to its critical role in the automotive industry. However, as markets shift and industrial demand changes, the price relationship between the two metals can vary. What does the price of Palladium depend on?
Palladium prices are influenced by several factors, including industrial demand, supply constraints, and macroeconomic conditions. The automotive industry is the biggest driver of demand, as stricter emissions regulations increase the need for palladium-based catalytic converters. Supply is heavily dependent on mining output from Russia and South Africa, making the metal vulnerable to geopolitical risks and supply chain disruptions. Additionally, broader market trends, such as the strength of the US dollar, interest rates, and economic growth, can impact palladium prices, as they do with other precious metals. Platinum Group Metals (PGMs) prices mentioned above are based on the FXStreet data feed for Contracts for Differences (CFDs). (An automation tool was used in creating this post.)
09:12 Crude Oil price today: WTI price bearish at European opening
West Texas Intermediate (WTI) Oil price falls on Thursday, early in the European session. WTI trades at $62.04 per barrel, down from Wednesday’s close at $62.13.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
West Texas Intermediate (WTI) Oil price falls on Thursday, early in the European session. WTI trades at $62.04 per barrel, down from Wednesday’s close at $62.13.Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $65.13 after its previous daily close at $65.24. WTI Oil FAQs What is WTI Oil? WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media. What factors drive the price of WTI Oil? Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa. How does inventory data impact the price of WTI Oil The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency. How does OPEC influence the price of WTI Oil? OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
09:09 China’s President Xi: Willing to work with other countries to uphold international trade rules
“China is willing to work with other countries to uphold international trade rules,” the country’s President Xi Jinping said on Thursday.
.fxs-related-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-related-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-related-module-related-link a{font-size:19.2px;line-height:25.92px}.fxs-related-module-related-link a{text-decoration:none;color:#1b1c23;font-weight:700;font-size:16px;font-style:normal;line-height:20px}.fxs-related-module-related-link a:hover,.fxs-related-module-related-link:hover,.fxs-related-module-related-link:hover a{color:#e4871b}.fxs-related-module-related-link a:hover{text-decoration:none}@media (min-width:680px){.fxs-related-module-title{font-size:19.2px;line-height:27.2px}.fxs-related-module-related-link a{font-size:19.2px;line-height:25.92px}}
“China is willing to work with other countries to uphold international trade rules,” the country’s President Xi Jinping said on Thursday.He further noted that “there are no winners in tariffs and trade wars.” Related news Gold Price Forecast: XAU/USD looks to $3,400 and beyond on renewed trade jitters PBOC Governor Pan: There are no winners in trade wars and tariff wars Australian Dollar struggles due to a potential 25 bps rate cut by RBA in May
08:29 EUR/JPY breaks below 162.00 as safe-haven demand lifts Yen amid trade uncertainty
EUR/JPY retraces its recent gains registered in the previous session, trading around 161.90 during the Asian hours on Thursday. The currency cross depreciates as the Japanese Yen (JPY) strengthens, as investors flock to safe-haven assets amid renewed concerns over global trade tensions.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}EUR/JPY weakens as the Japanese Yen gains strength, driven by investor demand for safe-haven assets amid escalating global trade tensions.US Treasury Secretary Scott Bessent noted that formal trade negotiations with Japan have yet to commence.Japanese Finance Minister Katsunobu Kato criticized US tariffs at the G7 summit, describing them as “highly disappointing.”EUR/JPY retraces its recent gains registered in the previous session, trading around 161.90 during the Asian hours on Thursday. The currency cross depreciates as the Japanese Yen (JPY) strengthens, as investors flock to safe-haven assets amid renewed concerns over global trade tensions.US Treasury Secretary Scott Bessent downplayed hopes for progress on US-Japan trade negotiations, stating that no formal trade talks have begun and no unilateral tariff cuts have been proposed. Adding to the cautious sentiment, the US reportedly told Japan’s trade delegation that Tokyo would not receive preferential treatment under the current tariff framework, despite calls for a policy review.The Bank of Japan’s (BoJ) latest Financial System Report, released Wednesday, noted overall financial stability but emphasized the need for vigilance due to risks tied to market fluctuations, especially those related to stockholdings by Japanese banks.Japanese Finance Minister Katsunobu Kato criticized US tariffs at the G7 meeting, calling them “highly disappointing.” Kato emphasized the importance of a free trade regime and stated that exchange rates should be determined by markets, warning that excessive forex moves could harm the economy.Meanwhile, European Central Bank (ECB) President Christine Lagarde expressed concern over the US tariff hike on EU goods—from 3% to 13%, noting its negative impact on the European outlook. ECB Governing Council member Madis Muller also suggested that interest rate cuts may be necessary if trade tensions further weigh on growth. These dovish comments could pressure the Euro in the short term. Tariffs FAQs What are tariffs? Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas. What is the difference between taxes and tariffs? Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers. Are tariffs good or bad? There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs. What is US President Donald Trump’s tariff plan? During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.
08:20 GBP/USD Price Forecast: Bullish outlook remains in play above 1.3250
The GBP/USD pair drifts higher to around 1.3270, snapping the two-day losing streak during the early European trading hours on Thursday. Mitigating concerns over potential tariff threats by US President Donald Trump exerts some selling pressure on the US Dollar (USD).
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}GBP/USD gains momentum to near 1.3270 in Thursday’s early European session. The positive view of the pair prevails above the key 100-day EMA with the bullish RSI indicator. The immediate resistance level emerges at 1.3424; the first support level to watch is 1.3200. The GBP/USD pair drifts higher to around 1.3270, snapping the two-day losing streak during the early European trading hours on Thursday. Mitigating concerns over potential tariff threats by US President Donald Trump exerts some selling pressure on the US Dollar (USD). Technically, the constructive outlook of GBP/USD remains in place as the major pair is well-supported above the key 100-day Exponential Moving Average (EMA) on the daily chart. The upward momentum is reinforced by the Relative Strength Index (RSI), which stands above the midline near 63.10, displaying bullish momentum in the near term. The first upside target for GBP/USD emerges at 1.3424, the high of April 22. Extended gains could see a rally to 1.3475, the upper boundary of the Bollinger Band. The additional upside filter to watch is 1.3638, the high of February 17, 2022. On the bearish side, the 1.3200 psychological level acts as an initial support level for the major pair. Sustained trading below the mentioned level could see a drop to the next contention level at 1.2949, the low of March 26. The next downside target to watch is 1.2837, the 100-day EMA. GBP/USD daily chart Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data.
Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE). How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates.
When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money.
When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects. How does economic data influence the value of the Pound? Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP.
A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall. How does the Trade Balance impact the Pound? Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period.
If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
07:56 PBOC Governor Pan: There are no winners in trade wars and tariff wars
People's Bank of China (PBOC) Governor Pan Gongsheng said on Thursday, “there are no winners in trade wars and tariff wars.”
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
People's Bank of China (PBOC) Governor Pan Gongsheng said on Thursday, “there are no winners in trade wars and tariff wars.”Additional quotesUnilateralism and protectionism have no way out and are not in the interests of anyone.China will adhere to opening up.China firmly supports free trade rules and the multilateral trading system.China will promote inclusive economic globalization, maintain global economic and financial stability.Market reactionAs of writing, AUD/USD is holding lower ground near 0.6350, down 0.15% on the day. PBOC FAQs What does the People's Bank of China do? 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. Who owns the PBoC? 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. What are the main policy tools used by the PBoC? Unlike the Western economies, the PBoC uses a broader set of monetary policy instruments to achieve its objectives. The primary tools include a seven-day Reverse Repo Rate (RRR), Medium-term Lending Facility (MLF), foreign exchange interventions and Reserve Requirement Ratio (RRR). However, The Loan Prime Rate (LPR) is China’s benchmark interest rate. Changes to the LPR directly influence the rates that need to be paid in the market for loans and mortgages and the interest paid on savings. By changing the LPR, China’s central bank can also influence the exchange rates of the Chinese Renminbi. Are private banks allowed in China? Yes, China has 19 private banks – a small fraction of the financial system. The largest private banks are digital lenders WeBank and MYbank, which are backed by tech giants Tencent and Ant Group, per The Straits Times. In 2014, China allowed domestic lenders fully capitalized by private funds to operate in the state-dominated financial sector.
07:44 USD/CHF trade with mild negative bias below 0.8300; downside seems cushioned
The USD/CHF pair fails to capitalize on a two-day-old recovery from the lowest level since September 2011 and attracts some sellers during the Asian session on Thursday.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}USD/CHF ticks lower on Thursday and snapped a two-day winning streak to a nearly two-week high.The uncertainty over Trump’s trade policies and Fed rate cut bets weigh on the USD and the pair.A positive risk tone undermines demand for the safe-haven CHF and limits losses for spot prices.The USD/CHF pair fails to capitalize on a two-day-old recovery from the lowest level since September 2011 and attracts some sellers during the Asian session on Thursday. Spot prices, however, lack bearish conviction and currently trade just below the 0.8300 mark, down 0.25% for the day and close to a nearly two-week high touched on Wednesday.Despite easing fears about the Federal Reserve's (Fed) independence, the US Dollar (USD) bulls remain on the sidelines amid the weakening confidence in the US economy on the back of the uncertainty about US President Donald Trump's trade policies. Apart from this, the prospects for more aggressive policy easing by the Fed fail to assist the USD to build on this week's bounce from a multi-year low, which, in turn, acts as a headwind for the USD/CHF pair.Meanwhile, US Treasury Secretary Scott Bessent tempered market expectations for a quick resolution to the US-China trade standoff. However, signs of easing trade tensions between the world's two largest economies remain supportive of a generally positive tone around the equity markets. This is seen undermining demand for the safe-haven Swiss Franc (CHF) and lending some support to the USD/CHF pair, warranting some caution for bearish traders. Traders now look forward to the US economic docket – featuring the release of the usual Weekly Initial Jobless Claims, Durable Goods Orders, and Existing Home Sales data later during the early Norther American session. Apart from this, trade-related developments will influence the USD price dynamics, which, along with the broader risk sentiment, should provide short-term impetuses to the USD/CHF pair. Swiss Franc FAQs What key factors drive the Swiss Franc? The Swiss Franc (CHF) is Switzerland’s official currency. It is among the top ten most traded currencies globally, reaching volumes that well exceed the size of the Swiss economy. Its value is determined by the broad market sentiment, the country’s economic health or action taken by the Swiss National Bank (SNB), among other factors. Between 2011 and 2015, the Swiss Franc was pegged to the Euro (EUR). The peg was abruptly removed, resulting in a more than 20% increase in the Franc’s value, causing a turmoil in markets. Even though the peg isn’t in force anymore, CHF fortunes tend to be highly correlated with the Euro ones due to the high dependency of the Swiss economy on the neighboring Eurozone. Why is the Swiss Franc considered a safe-haven currency? The Swiss Franc (CHF) is considered a safe-haven asset, or a currency that investors tend to buy in times of market stress. This is due to the perceived status of Switzerland in the world: a stable economy, a strong export sector, big central bank reserves or a longstanding political stance towards neutrality in global conflicts make the country’s currency a good choice for investors fleeing from risks. Turbulent times are likely to strengthen CHF value against other currencies that are seen as more risky to invest in. How do decisions of the Swiss National Bank impact the Swiss Franc? The Swiss National Bank (SNB) meets four times a year – once every quarter, less than other major central banks – to decide on monetary policy. The bank aims for an annual inflation rate of less than 2%. When inflation is above target or forecasted to be above target in the foreseeable future, the bank will attempt to tame price growth by raising its policy rate. Higher interest rates are generally positive for the Swiss Franc (CHF) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken CHF. How does economic data influence the value of the Swiss Franc? Macroeconomic data releases in Switzerland are key to assessing the state of the economy and can impact the Swiss Franc’s (CHF) valuation. The Swiss economy is broadly stable, but any sudden change in economic growth, inflation, current account or the central bank’s currency reserves have the potential to trigger moves in CHF. Generally, high economic growth, low unemployment and high confidence are good for CHF. Conversely, if economic data points to weakening momentum, CHF is likely to depreciate. How does the Eurozone monetary policy affect the Swiss Franc? As a small and open economy, Switzerland is heavily dependent on the health of the neighboring Eurozone economies. The broader European Union is Switzerland’s main economic partner and a key political ally, so macroeconomic and monetary policy stability in the Eurozone is essential for Switzerland and, thus, for the Swiss Franc (CHF). With such dependency, some models suggest that the correlation between the fortunes of the Euro (EUR) and the CHF is more than 90%, or close to perfect.
07:44 FX option expiries for Apr 24 NY cut
FX option expiries for Apr 24 NY cut at 10:00 Eastern Time via DTCC can be found below.
FX option expiries for Apr 24 NY cut at 10:00 Eastern Time via DTCC can be found below.EUR/USD: EUR amounts1.1250 1.1b1.1300 723m1.1370 984m1.1430 800m1.1450 1.1b1.1500 1.3bGBP/USD: GBP amounts 1.2950 610mUSD/JPY: USD amounts 140.00 1.9b141.55 1b143.00 905m145.00 1.5bUSD/CHF: USD amounts 0.8350 530mUSD/CAD: USD amounts 1.3950 563mNZD/USD: NZD amounts0.5700 560mEUR/GBP: EUR amounts 0.8340 701m
07:35 India Gold price today: Gold rises, according to FXStreet data
Gold prices fell in India on Thursday, according to data compiled by FXStreet.
.fxs-related-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-related-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-related-module-related-link a{font-size:19.2px;line-height:25.92px}.fxs-related-module-related-link a{text-decoration:none;color:#1b1c23;font-weight:700;font-size:16px;font-style:normal;line-height:20px}.fxs-related-module-related-link a:hover,.fxs-related-module-related-link:hover,.fxs-related-module-related-link:hover a{color:#e4871b}.fxs-related-module-related-link a:hover{text-decoration:none}@media (min-width:680px){.fxs-related-module-title{font-size:19.2px;line-height:27.2px}.fxs-related-module-related-link a{font-size:19.2px;line-height:25.92px}}
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
Gold prices fell in India on Thursday, according to data compiled by FXStreet.
The price for Gold stood at 9,166.56 Indian Rupees (INR) per gram, down compared with the INR 9,053.70 it cost on Wednesday.
The price for Gold decreased to INR 106,916.50 per tola from INR 105,600.60 per tola a day earlier. Unit measure Gold Price in INR 1 Gram 9,166.56 10 Grams 91,665.22 Tola 106,916.50 Troy Ounce -1.00
2025 Gold Forecast Guide [PDF] Download your free copy of the 2025 Gold Forecast
Daily Digest Market Movers: Gold price attracts safe-haven flows amid persistent trade uncertainties
US Treasury Secretary Scott Bessent denied reports that the White House is considering unilaterally slashing tariffs on Chinese imports. Bessent added that high duties imposed by both sides need to come down mutually before talks can begin, tempering hopes for a quick resolution to the US-China trade standoff and reviving demand for the traditional safe-haven Gold price.
The Federal Reserve's Beige Book showed that pervasive uncertainty over US President Donald Trump’s shifting tariff plans threatens to curtail growth in the months ahead. The report further revealed that consumer spending remains mixed, while the labor market has shown signs of cooling after stalling or edging lower in many Fed districts, pointing to a gloomy outlook.
On the economic data front, a preliminary reading of S&P Global’s Composite PMI indicated US business activity expanded at a slower pace in April. The data revealed a diverging performance across sectors, with manufacturing activity continuing to grow modestly, while the non-manufacturing PMI pointed to signs that demand in the services sector may be losing steam.
The US Dollar erodes a part of its recovery gains registered over the past two days amid bets that the Federal Reserve will resume its rate-cutting cycle in June and lower borrowing costs at least three times by the end of this year. This turns out to be another factor that benefits the non-yielding yellow metal, though a generally positive risk tone might cap any further gains.
Meanwhile, signs of easing trade tensions between the world's two largest economies and receding fears that the Fed could lose its autonomy boosted investors' appetite for riskier assets. This might hold back bulls from placing fresh bets around the XAU/USD as traders now look to the US macro data – Jobless Claims and Durable Goods Orders – for short-term impetuses. FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
Gold FAQs Why do people invest in Gold?
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold?
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets?
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on?
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up. (An automation tool was used in creating this post.)
07:30 EUR/USD Price Forecast: Rises toward 1.1350 after finding support at near nine-day EMA
EUR/USD pauses its two-day decline, hovering near 1.1340 during Thursday’s Asian session. Daily chart technical analysis indicates a weakening bullish bias, as the pair has slipped below the ascending channel pattern.
.fxs-major-currency-prices-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-major-currency-prices-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-major-currency-prices-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:8px 16px}table.fxs-major-currency-prices-currency-prices-table{width:100%;text-align:center;border-collapse:collapse;font-size:1rem}table.fxs-major-currency-prices-currency-prices-table th{background-color:#f2f2f2}table.fxs-major-currency-prices-currency-prices-table td{color:#fff}table.fxs-major-currency-prices-currency-prices-table td.green{background-color:#9cd6cd}table.fxs-major-currency-prices-currency-prices-table td.red{background-color:#faafb5}table.fxs-major-currency-prices-currency-prices-table td.blue-grey{background-color:#888a93}.fxs-major-currency-prices-currency-prices-legend{font-size:11px;margin:8px;color:#49494f}@media (min-width:680px){.fxs-major-currency-prices-content{font-size:16px;line-height:21.6px}.fxs-major-currency-prices-title{font-size:19.2px;line-height:27.2px}}.fxs-major-currency-prices-currency-price td.dark-green{background-color:#39ad9a}.fxs-major-currency-prices-currency-price td.light-green{background-color:#9cd6cd}.fxs-major-currency-prices-currency-price td.gray{background-color:#888a93}.fxs-major-currency-prices-currency-price td.light-red{background-color:#faafb5}.fxs-major-currency-prices-currency-price td.strong-red{background-color:#f55e6a}EUR/USD could look to reclaim the ascending channel and retest the 1.1573 level — its highest since November 2021.Daily chart analysis points to a weakening bullish bias following a break below the ascending channel.A drop beneath the nine-day EMA at 1.1326 may pave the way for a deeper pullback toward the 50-day EMA support near 1.0944.EUR/USD pauses its two-day decline, hovering near 1.1340 during Thursday’s Asian session. Daily chart technical analysis indicates a weakening bullish bias, as the pair has slipped below the ascending channel pattern.Additionally, the EUR/USD pair continues to trade just above the nine-day Exponential Moving Average (EMA), indicating firm short-term bullish momentum. The 14-day Relative Strength Index (RSI) also stays above the 50 level, reinforcing the sustained bullish bias.On the upside, the EUR/USD pair may attempt to re-enter the ascending channel and retest the April 21 high of 1.1573 — its strongest level since November 2021. A successful return to the channel could restore bullish momentum and potentially drive the pair toward the channel’s upper boundary near the 1.1930 mark.The pair is testing key support at the nine-day EMA near 1.1326. A break below this level could erode the bullish bias and open the door for a move toward the 50-day EMA around 1.0944. Further downside pressure may weaken medium-term momentum, potentially extending the decline toward the six-week low of 1.0360, last seen on February 28.EUR/USD: Daily Chart Euro PRICE Today The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the US Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -0.20% -0.11% -0.41% -0.06% 0.01% -0.12% -0.24% EUR 0.20% 0.09% -0.23% 0.14% 0.19% 0.07% -0.04% GBP 0.11% -0.09% -0.28% 0.05% 0.12% -0.02% -0.13% JPY 0.41% 0.23% 0.28% 0.36% 0.44% 0.27% 0.23% CAD 0.06% -0.14% -0.05% -0.36% 0.11% -0.05% -0.17% AUD -0.01% -0.19% -0.12% -0.44% -0.11% -0.12% -0.23% NZD 0.12% -0.07% 0.02% -0.27% 0.05% 0.12% -0.12% CHF 0.24% 0.04% 0.13% -0.23% 0.17% 0.23% 0.12% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
07:14 Silver Price Forecast: XAG/USD bulls have the upper hand while above $33.00 hurdle breakpoint
Silver (XAG/USD) attracts some sellers after hitting a nearly three-week top near the $33.70 region during the Asian session on Thursday and erodes a part of the previous day's strong move up.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}Silver retreats after touching a fresh multi-month high during the Asian session on Thursday.The technical setup favors bulls and supports prospects for the emergence of some dip-buyers.A convincing break below the $32.00 mark is needed to negate the near-term positive outlook.Silver (XAG/USD) attracts some sellers after hitting a nearly three-week top near the $33.70 region during the Asian session on Thursday and erodes a part of the previous day's strong move up. The white metal currently trades around the $33.35-$33.30 area, down 0.75% for the day, though the technical setup supports prospects for the emergence of dip-buyers at lower levels. The overnight breakout through a short-term trading range held over the past week or so, along with the fact that oscillators on the daily chart have just started gaining positive traction, validates the near-term positive outlook for the XAG/USD. Hence, any further decline is more likely to get bought into the $33.00 round figure mark, which should now act as a key pivotal point.A convincing break below the said handle might prompt some technical selling and drag the XAG/USD further toward the $32.40 support en route to the $32.10-$32.00 area. Some follow-through selling will suggest that the recent recovery from the $28.00 mark, or the year-to-date low touched earlier this month, has run out of steam and pave the way for deeper losses. On the flip side, momentum beyond the Asian session high, around the $33.70 region, should allow the XAG/USD to reclaim the $34.00 mark. The subsequent move higher could lift the commodity towards the $34.30 intermediate hurdle en route to the $34.55-$34.60 area or the highest level since October 2024 touched last month and the $35.00 psychological mark.Silver 4-hour chart Silver FAQs Why do people invest in Silver? Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets. Which factors influence Silver prices? Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices. How does industrial demand affect Silver prices? Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices. How do Silver prices react to Gold’s moves? Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
06:43 WTI remains above $62.00, downside risks persist due to potential increase in OPEC+ supply
West Texas Intermediate (WTI) Oil price recovers its daily losses, trading around $62.20 per barrel during Thursday’s Asian hours.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}WTI price may come under pressure as investors evaluate the potential for an accelerated output increase by OPEC+.Kazakhstan, an OPEC+ member, has indicated it cannot cut production from its major Oil fields and will prioritize national interests.The downside of the Oil prices could be limited amid renewed optimism over potential US-China trade talks.West Texas Intermediate (WTI) Oil price recovers its daily losses, trading around $62.20 per barrel during Thursday’s Asian hours. However, crude Oil prices face headwinds as investors assess the likelihood of an accelerated output increase from OPEC+, the Organization of the Petroleum Exporting Countries and its allies.Oil prices dropped over 2% on Wednesday following a Reuters report suggesting that several OPEC+ members plan to propose boosting production again in June. Kazakhstan, a key OPEC+ ally, stated it cannot reduce output from its major Oil fields and will prioritize national interests in its production strategy.Despite the downward pressure, crude prices found some support on hopes of renewed US-China trade negotiations. According to the Wall Street Journal, the White House may reduce tariffs on Chinese goods by up to 50% to facilitate talks.US Treasury Secretary Scott Bessent acknowledged that current tariffs—145% on Chinese goods and 125% on US goods—are unsustainable and must be lowered for meaningful dialogue to begin. Meanwhile, National Economic Council Director Kevin Hassett cautioned that a comprehensive trade deal could take two to three years.US President Donald Trump emphasized that tariff adjustments depend on China’s willingness to engage. "If we don't reach a deal, we're simply setting the price — then it's up to them to decide if they want to proceed," he said, adding that the current 145% rate remains in effect due to a lack of trade activity with China.Elsewhere, market watchers are monitoring US-Iran talks set for the weekend, which could impact global supply if progress is made on limiting Iran's uranium enrichment. However, optimism was dampened after the US imposed new sanctions on Iran’s energy sector, prompting Tehran to accuse Washington of lacking seriousness in negotiations. WTI Oil FAQs What is WTI Oil? WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media. What factors drive the price of WTI Oil? Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa. How does inventory data impact the price of WTI Oil The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency. How does OPEC influence the price of WTI Oil? OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
06:39 Gold price bulls could regain control amid fading US-China trade deal optimism
Gold price (XAU/USD) attracts fresh buyers during the Asian session on Thursday, reversing the previous day's heavy losses and snapping a two-day losing streak to the $3,260 area or the weekly low.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}Gold price regains positive traction as fading US-China trade optimism revives safe-haven demand.The US economic worries and Fed rate cut bets undermine the USD, also benefiting the commodity.A positive risk tone might hold back the XAU/USD bulls from placing aggressive bets and cap gains.Gold price (XAU/USD) attracts fresh buyers during the Asian session on Thursday, reversing the previous day's heavy losses and snapping a two-day losing streak to the $3,260 area or the weekly low. US Treasury Secretary Scott Bessent's remarks on Wednesday suggest the current trade standoff between the US and China could continue for a while longer. This comes on top of heightened uncertainty over US President Donald Trump's tariffs and their impact on the global economy, which helps revive demand for the safe-haven bullion. Meanwhile, the US Dollar (USD) struggles to capitalize on a two-day-old recovery move from a multi-year low and turns out to be another factor underpinning the Gold price. Apart from this, the prospects for a more aggressive policy easing by the Federal Reserve (Fed) offer additional support to the non-yielding yellow metal. Meanwhile, investors remain hopeful about a possible US-China trade deal. This, along with easing fears about the Fed's independence, remains supportive of a positive risk tone and could act as a headwind for the XAU/USD. Daily Digest Market Movers: Gold price attracts safe-haven flows amid persistent trade uncertaintiesUS Treasury Secretary Scott Bessent denied reports that the White House is considering unilaterally slashing tariffs on Chinese imports. Bessent added that high duties imposed by both sides need to come down mutually before talks can begin, tempering hopes for a quick resolution to the US-China trade standoff and reviving demand for the traditional safe-haven Gold price. The Federal Reserve's Beige Book showed that pervasive uncertainty over US President Donald Trump’s shifting tariff plans threatens to curtail growth in the months ahead. The report further revealed that consumer spending remains mixed, while the labor market has shown signs of cooling after stalling or edging lower in many Fed districts, pointing to a gloomy outlook.On the economic data front, a preliminary reading of S&P Global’s Composite PMI indicated US business activity expanded at a slower pace in April. The data revealed a diverging performance across sectors, with manufacturing activity continuing to grow modestly, while the non-manufacturing PMI pointed to signs that demand in the services sector may be losing steam.The US Dollar erodes a part of its recovery gains registered over the past two days amid bets that the Federal Reserve will resume its rate-cutting cycle in June and lower borrowing costs at least three times by the end of this year. This turns out to be another factor that benefits the non-yielding yellow metal, though a generally positive risk tone might cap any further gains.Meanwhile, signs of easing trade tensions between the world's two largest economies and receding fears that the Fed could lose its autonomy boosted investors' appetite for riskier assets. This might hold back bulls from placing fresh bets around the XAU/USD as traders now look to the US macro data – Jobless Claims and Durable Goods Orders – for short-term impetuses.Gold price needs to strengthen back above the 23.6% Fibo. level for bulls to regain near-term controlFrom a technical perspective, the precious metal showed some resilience below the 38.2% Fibonacci retracement level of the latest leg up from the vicinity of mid-$2,900s or the monthly swing low. The subsequent move up, however, falters near the 23.6% Fibo. level, around the $3,367-3,368 region, which should now act as a key pivotal point. Given that oscillators on the daily chart are still holding comfortably in positive territory, some follow-through buying should allow the Gold price to reclaim the $3,400 mark. The momentum could extend further towards the $3,425-3,427 intermediate hurdle, above which bulls could make a fresh attempt to conquer the $3,500 psychological mark.On the flip side, the $3,300 mark, followed by the $3,288 zone (38.2% Fibo. level) and the overnight swing low, around the $3,260 area, could offer support to the XAU/USD. A convincing break below the latter could drag the Gold price further toward the 50% retracement level, around the $3,225 region. Some follow-through selling, leading to a subsequent slide below the $3,200 mark, will suggest that the precious metal has topped out in the near term and pave the way for an extension of this week's retracement slide from the all-time peak. US-China Trade War FAQs What does “trade war” mean? Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade barriers, such as tariffs, which result in counter-barriers, escalating import costs, and hence the cost of living. What is the US-China trade war? An economic conflict between the United States (US) and China began early in 2018, when President Donald Trump set trade barriers on China, claiming unfair commercial practices and intellectual property theft from the Asian giant. China took retaliatory action, imposing tariffs on multiple US goods, such as automobiles and soybeans. Tensions escalated until the two countries signed the US-China Phase One trade deal in January 2020. The agreement required structural reforms and other changes to China’s economic and trade regime and pretended to restore stability and trust between the two nations. However, the Coronavirus pandemic took the focus out of the conflict. Yet, it is worth mentioning that President Joe Biden, who took office after Trump, kept tariffs in place and even added some additional levies. Trade war 2.0 The return of Donald Trump to the White House as the 47th US President has sparked a fresh wave of tensions between the two countries. During the 2024 election campaign, Trump pledged to impose 60% tariffs on China once he returned to office, which he did on January 20, 2025. With Trump back, the US-China trade war is meant to resume where it was left, with tit-for-tat policies affecting the global economic landscape amid disruptions in global supply chains, resulting in a reduction in spending, particularly investment, and directly feeding into the Consumer Price Index inflation.
06:17 USD/INR holds positive ground amid tensions over Kashmir
The Indian Rupee (INR) faces some selling pressure on Thursday as terrorist attacks in Kashmir, India, weighed on sentiment. Furthermore, rising crude oil prices undermine the Indian currency, as India is the world's third-largest oil consumer.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}The Indian Rupee trades in negative territory in Thursday’s Asian session. The attacks on Kashmir created a negative sentiment, weighing on the INR. The US weekly Initial Jobless Claims will be published later on Thursday. The Indian Rupee (INR) faces some selling pressure on Thursday as terrorist attacks in Kashmir, India, weighed on sentiment. Furthermore, rising crude oil prices undermine the Indian currency, as India is the world's third-largest oil consumer. However, the weaker US Dollar might help limit the INR’s losses. Investors will keep an eye on the US weekly Initial Jobless Claims due later on Thursday. Also, the Chicago Fed National Activity Index, Durable Goods Orders, and Existing Home Sales are due later on Thursday. Indian Rupee softens as risk sentiment soursLate Wednesday, US President Donald Trump's administration stated that it has spoken to 90 countries regarding tariffs already. The administration noted that the US will set tariffs for China over the next two to three weeks, and it depends on China how soon tariffs can come down.At least 28 people were killed and many wounded on Tuesday when terrorists opened fire in a picturesque meadow near the resort town of Pahalgam in J&K, marking the deadliest attack since 2019.India has vowed to retaliate against the terror attack in the northern Indian region of Jammu and Kashmir. The US, China, and other nations also strongly condemned the attack on Wednesday.The HSBC India Manufacturing Purchasing Managers Index (PMI) improved to 58.4 in April from 58.1 in March. The Indian Services PMI rose to 59.1 in April versus 58.5 prior. Finally, the Composite PMI climbed to 60.0 in April from 59.5 in March.A preliminary reading of US S&P Global’s Composite PMI fell to 51.2 in April from 53.5 in March. Meanwhile, the Manufacturing PMI rose to 50.7 in April from the previous reading of 50.2, better than the estimation of 49.4. The Services PMI eased to 51.4 in April versus 54.4 prior, below the market consensus of 52.8. According to the Federal Reserve’s (Fed) Beige Book report on Wednesday, businesses dealing with the early stages of Trump’s tariffs are looking for ways to pass increasing costs onto consumers. Federal Reserve Bank of Cleveland President Beth Hammack said on Wednesday that conditions still support ongoing reductions in the central bank's balance sheet. USD/INR’s bearish bias holds despite intraday gainsThe Indian Rupee weakens on the day. However, in the longer term, the bearish outlook of the USD/INR pair remains intact as the price is below the key 100-day Exponential Moving Average (EMA) on the daily timeframe. The downward momentum is reinforced by the 14-day Relative Strength Index (RSI), which stands below the midline near 44.35.The initial support level for USD/INR is located at 84.85, the lower limit of the descending trend channel. Extended losses could expose 84.22, the low of November 25, 2024. The next downside target is seen at 84.08, the low of November 6, 2024. In the bullish case, the immediate resistance level for the pair emerges at 85.85, the 100-day EMA. Further north, the next hurdle to watch is 86.45, the upper boundary of the trend channel. Indian Rupee FAQs What are the key factors driving the Indian Rupee? The Indian Rupee (INR) is one of the most sensitive currencies to external factors. The price of Crude Oil (the country is highly dependent on imported Oil), the value of the US Dollar – most trade is conducted in USD – and the level of foreign investment, are all influential. Direct intervention by the Reserve Bank of India (RBI) in FX markets to keep the exchange rate stable, as well as the level of interest rates set by the RBI, are further major influencing factors on the Rupee. How do the decisions of the Reserve Bank of India impact the Indian Rupee? The Reserve Bank of India (RBI) actively intervenes in forex markets to maintain a stable exchange rate, to help facilitate trade. In addition, the RBI tries to maintain the inflation rate at its 4% target by adjusting interest rates. Higher interest rates usually strengthen the Rupee. This is due to the role of the ‘carry trade’ in which investors borrow in countries with lower interest rates so as to place their money in countries’ offering relatively higher interest rates and profit from the difference. What macroeconomic factors influence the value of the Indian Rupee? Macroeconomic factors that influence the value of the Rupee include inflation, interest rates, the economic growth rate (GDP), the balance of trade, and inflows from foreign investment. A higher growth rate can lead to more overseas investment, pushing up demand for the Rupee. A less negative balance of trade will eventually lead to a stronger Rupee. Higher interest rates, especially real rates (interest rates less inflation) are also positive for the Rupee. A risk-on environment can lead to greater inflows of Foreign Direct and Indirect Investment (FDI and FII), which also benefit the Rupee. How does inflation impact the Indian Rupee? Higher inflation, particularly, if it is comparatively higher than India’s peers, is generally negative for the currency as it reflects devaluation through oversupply. Inflation also increases the cost of exports, leading to more Rupees being sold to purchase foreign imports, which is Rupee-negative. At the same time, higher inflation usually leads to the Reserve Bank of India (RBI) raising interest rates and this can be positive for the Rupee, due to increased demand from international investors. The opposite effect is true of lower inflation.
06:11 Japan’s Kato: US tariffs are highly disappointing
Speaking at the G7 Summit, Japanese Finance Minister Katsunobu Kato said on Thursday that “US tariffs are highly disappointing.”
Speaking at the G7 Summit, Japanese Finance Minister Katsunobu Kato said on Thursday that “US tariffs are highly disappointing.”Additional quotesUS tariffs, countermeasures are creating uncertainties in financial market.Stressed that free trade regime promotion important.Constructive policy discussion important.No comment on Bessent's foreign exchange remarks.
05:31 USD/CAD falls toward 1.3850 as Fed’s Beige Book suggests deteriorating economic conditions
USD/CAD edges lower around 1.3870 during Thursday's Asian session, after climbing roughly 0.50% in the previous day. The pair is under pressure as the US Dollar (USD) weakens following the Federal Reserve’s April Beige Book, which pointed to deteriorating economic conditions.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}USD/CAD weakens as the Fed’s April Beige Book underscores the potential negative impact of tariffs on the economic outlook.The US Dollar also loses ground after the flash Composite PMI pointed to a slowdown in overall business activity.President Trump suggested the 25% tariff on Canadian auto imports to the US could be raised.USD/CAD edges lower around 1.3870 during Thursday's Asian session, after climbing roughly 0.50% in the previous day. The pair is under pressure as the US Dollar (USD) weakens following the Federal Reserve’s April Beige Book, which pointed to deteriorating economic conditions.The report highlighted growing concerns about tariffs, which have negatively impacted the economic outlook across multiple US regions. Consumer spending appeared uneven, and labor market conditions softened, with many districts noting stagnant or slightly declining employment.Further pressuring the Greenback were Wednesday’s mixed S&P Global PMI figures. The flash Composite PMI for April fell to 51.2 from 53.5, signaling a slowdown in business activity. While the Manufacturing PMI ticked up slightly to 50.7, the Services PMI dropped sharply to 51.4 from 54.4, reflecting weaker demand in the services sector. Chris Williamson of S&P Global noted that growth momentum is waning, with persistent inflation complicating the Fed’s policy outlook.However, the USD/CAD pair appreciated on Wednesday as the Canadian Dollar (CAD) remained under pressure. This came after US President Donald Trump suggested that a 25% tariff on Canadian auto imports to the US could be increased. Trump emphasized efforts to strike a deal with Canada, aiming to boost US auto production and reduce reliance on foreign vehicles, according to Reuters.Meanwhile, the Canadian Dollar (CAD) also struggles due to the International Monetary Fund’s (IMF) downward revision of Canada’s 2025 GDP growth forecast to 1.4% has renewed concerns about weakening domestic demand, Additionally, the Bank of Canada’s (BoC) decision to keep its benchmark interest rate steady at 2.75% underscores a cautious stance, influenced in part by ongoing uncertainty surrounding potential US tariffs. Canadian Dollar FAQs What key factors drive the Canadian Dollar? The key factors driving the Canadian Dollar (CAD) are the level of interest rates set by the Bank of Canada (BoC), the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports. Other factors include market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar. How do the decisions of the Bank of Canada impact the Canadian Dollar? The Bank of Canada (BoC) has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another. This influences the level of interest rates for everyone. The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down. Relatively higher interest rates tend to be positive for the CAD. The Bank of Canada can also use quantitative easing and tightening to influence credit conditions, with the former CAD-negative and the latter CAD-positive. How does the price of Oil impact the Canadian Dollar? The price of Oil is a key factor impacting the value of the Canadian Dollar. Petroleum is Canada’s biggest export, so Oil price tends to have an immediate impact on the CAD value. Generally, if Oil price rises CAD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Oil falls. Higher Oil prices also tend to result in a greater likelihood of a positive Trade Balance, which is also supportive of the CAD. How does inflation data impact the value of the Canadian Dollar? While inflation had always traditionally been thought of as a negative factor for a currency since it lowers the value of money, the opposite has actually been the case in modern times with the relaxation of cross-border capital controls. Higher inflation tends to lead central banks to put up interest rates which attracts more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in Canada’s case is the Canadian Dollar. How does economic data influence the value of the Canadian Dollar? Macroeconomic data releases gauge the health of the economy and can have an impact on the Canadian Dollar. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the CAD. A strong economy is good for the Canadian Dollar. Not only does it attract more foreign investment but it may encourage the Bank of Canada to put up interest rates, leading to a stronger currency. If economic data is weak, however, the CAD is likely to fall.
05:16 Japanese Yen snaps two-day losing streak against USD amid reviving safe-haven demand
The Japanese Yen (JPY) edges higher against its American counterpart during the Asian session on Thursday and for now, seems to have stalled its retracement slide from a multi-month high touched earlier this week.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}The Japanese Yen attracts some dip-buyers amid fading optimism over the US-China trade deal. Bets that the BoJ will continue raising interest rates in 2025 further lend support to the JPY.Dovish Fed expectations cap the USD recovery from a multi-year low and weigh on USD/JPY.The Japanese Yen (JPY) edges higher against its American counterpart during the Asian session on Thursday and for now, seems to have stalled its retracement slide from a multi-month high touched earlier this week. US Treasury Secretary Scott Bessent tempered market expectations for a quick resolution to the US-China trade standoff, which helped revive demand for the safe-haven JPY. Apart from this, the growing acceptance that the Bank of Japan (BoJ) will maintain its stance for policy normalization and hike interest rates further in 2025 underpin the JPY. Market participants, however, forecast a delay in BoJ rate hikes as US President Donald Trump’s tariff measures have darkened the economic outlook, which might hold back the JPY bulls from placing aggressive bets. Meanwhile, a relatively hawkish BoJ outlook still marks a big divergence in comparison to expectations that the Federal Reserve (Fed) will resume its rate-cutting soon. This should continue to act as a tailwind for the lower-yielding JPY, which, along with the lack of follow-through US Dollar (USD) buying, favors the USD/JPY bears. Japanese Yen regains positive traction as fading hopes for a quick US-China trade deal drive safe-haven flowsUS President Donald Trump said that the 145% tariffs on Chinese imports will eventually come down substantially. Meanwhile, US Treasury Secretary Scott Bessent denied a Wall Street Journal report that the White House is considering unilaterally slashing tariffs on Chinese imports.Bessent's remarks suggested that the Trump administration could be waiting for China to make the first move, which cooled some optimism that the trade war between the world's two largest economies would de-escalate soon. This, in turn, drives some safe-haven flows towards the Japanese Yen. Japan's Economic Revitalization Minister Ryosei Akazawa will visit the US for tariff talks from April 30. Akazawa had said last week that any agreement would likely take some time as it's difficult to say how long it will take to bridge the gap between the two sides.Bank of Japan Governor Kazuo Ueda said last week that the central bank may need to take policy action if US tariffs hurt the Japanese economy. Moreover, reports suggested that the BoJ will cut its economic growth forecasts and warn of escalating risks from Trump's sweeping trade tariff. Investors, however, seem convinced that the BoJ will continue raising interest rates in 2025 amid the broadening inflation in Japan, which has been running at or above the 2% target for around three years. This marks a big divergence in comparison to dovish Federal Reserve expectations.In fact, traders have been pricing in the possibility that the Fed will resume its rate-cutting cycle in June and lower borrowing costs at least three times by the end of this year. This fails to assist the US Dollar to capitalize on a two-day-old recovery, led by easing fears over the Fed's independence.Trump slammed Ukraine’s President Volodymyr Zelensky for his comments that Ukraine wouldn’t recognize Russian control of Crimea. Trump added that a deal to end the war was very close, but that Zelensky's refusal to accept US terms "will do nothing but prolong the conflict.”This keeps the geopolitical risk premium in play, which, along with the divergent BoJ-Fed policy expectations, should continue to benefit the lower-yielding JPY. Traders now look to the US economic docket – featuring Weekly Initial Jobless Claims, Durable Goods Orders, and Existing Home Sales data.USD/JPY could attract dip-buyers near 142.45-142.40; mixed technicals warrant caution for aggressive tradersFrom a technical perspective, the overnight close above the 23.6% Fibonacci retracement level of the March-April downfall and the 143.00 mark was seen as a key trigger for the USD/JPY bulls. Moreover, oscillators on hourly charts have been gaining positive traction and support prospects for the emergence of dip-buyers near the 142.45-142.40 region. This should help limit the downside near the 142.00 round figure, below which spot prices could slide to mid-141.00s en route to the 141.10-141.00 region. The downward trajectory could extend further towards the 140.50 intermediate support and eventually expose the multi-month low – levels below the 140.00 psychological mark touched on Tuesday.On the flip side, momentum back above the 143.00 mark might confront some hurdle near the 143.55 area or the overnight swing high. Some follow-through buying has the potential to lift the USD/JPY pair beyond the 144.00 round figure, towards the 144.35 confluence. The latter comprises 38.2% Fibo. level and the 200-period Simple Moving Average (SMA) on the 4-hour chart, which if cleared decisively should pave the way for some meaningful recovery in the near term. Japanese Yen FAQs What key factors drive the Japanese Yen? The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors. How do the decisions of the Bank of Japan impact the Japanese Yen? One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen. How does the differential between Japanese and US bond yields impact the Japanese Yen? Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential. How does broader risk sentiment impact the Japanese Yen? The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen’s value against other currencies seen as more risky to invest in.
04:55 NZD/USD strengthens to near 0.5950 on weaker US Dollar, eyes on US-China trade talks
The NZD/USD pair strengthens to near 0.5950 during the Asian trading hours on Thursday, bolstered by the weakening of the US Dollar (USD).
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}NZD/USD trades in positive territory around 0.5950 in Wednesday’s Asian session. Persistent tariff uncertainty and fears of a US economic slowdown weigh on the US Dollar. Traders expect the RBNZ to cut its OCR by 25 bps in May. The NZD/USD pair strengthens to near 0.5950 during the Asian trading hours on Thursday, bolstered by the weakening of the US Dollar (USD). Traders brace for the US weekly Initial Jobless Claims, Chicago Fed National Activity Index, Durable Goods Orders, and Existing Home Sales, which are due later on Thursday. US Treasury Secretary Scott Bessent said on Tuesday that the ongoing tariff showdown against China is unsustainable, and he expects a “de-escalation” in the trade war between the world’s two largest economies in the near future. Late Wednesday, US President Donald Trump's administration stated that it has spoken to 90 countries regarding tariffs already. The Trump administration noted that the US will set tariffs for China over the next two to three weeks, and it depends on China how soon tariffs can come down. The uncertainty surrounding Trump’s trade policies raises concerns about the economic slowdown in the US and drags the Greenback lower. On the Kiwi front, the rising expectation that the Reserve Bank of New Zealand (RBNZ) will lower its Official Cash Rate (OCR) at the May meeting might cap the upside for the pair. The markets fully expect the RBNZ to cut its 3.5% OCR by 25 basis points (bps) in May, with a further reduction to 2.75% by year-end. New Zealand Dollar FAQs What key factors drive the New Zealand Dollar? The New Zealand Dollar (NZD), also known as the Kiwi, is a well-known traded currency among investors. Its value is broadly determined by the health of the New Zealand economy and the country’s central bank policy. Still, there are some unique particularities that also can make NZD move. The performance of the Chinese economy tends to move the Kiwi because China is New Zealand’s biggest trading partner. Bad news for the Chinese economy likely means less New Zealand exports to the country, hitting the economy and thus its currency. Another factor moving NZD is dairy prices as the dairy industry is New Zealand’s main export. High dairy prices boost export income, contributing positively to the economy and thus to the NZD. How do decisions of the RBNZ impact the New Zealand Dollar? The Reserve Bank of New Zealand (RBNZ) aims to achieve and maintain an inflation rate between 1% and 3% over the medium term, with a focus to keep it near the 2% mid-point. To this end, the bank sets an appropriate level of interest rates. When inflation is too high, the RBNZ will increase interest rates to cool the economy, but the move will also make bond yields higher, increasing investors’ appeal to invest in the country and thus boosting NZD. On the contrary, lower interest rates tend to weaken NZD. The so-called rate differential, or how rates in New Zealand are or are expected to be compared to the ones set by the US Federal Reserve, can also play a key role in moving the NZD/USD pair. How does economic data influence the value of the New Zealand Dollar? Macroeconomic data releases in New Zealand are key to assess the state of the economy and can impact the New Zealand Dollar’s (NZD) valuation. A strong economy, based on high economic growth, low unemployment and high confidence is good for NZD. High economic growth attracts foreign investment and may encourage the Reserve Bank of New Zealand to increase interest rates, if this economic strength comes together with elevated inflation. Conversely, if economic data is weak, NZD is likely to depreciate. How does broader risk sentiment impact the New Zealand Dollar? The New Zealand Dollar (NZD) tends to strengthen during risk-on periods, or when investors perceive that broader market risks are low and are optimistic about growth. This tends to lead to a more favorable outlook for commodities and so-called ‘commodity currencies’ such as the Kiwi. Conversely, NZD tends to weaken at times of market turbulence or economic uncertainty as investors tend to sell higher-risk assets and flee to the more-stable safe havens.
04:45 Australian Dollar holds ground, upside appears due to weakening US economic conditions
The Australian Dollar (AUD) remains steady on Thursday following two consecutive days of losses. The AUD/USD pair could see gains as the US Dollar (USD) faces pressure after the Federal Reserve's (Fed) Beige Book suggested weakening economic conditions.
.fxs-major-currency-prices-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-major-currency-prices-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-major-currency-prices-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:8px 16px}table.fxs-major-currency-prices-currency-prices-table{width:100%;text-align:center;border-collapse:collapse;font-size:1rem}table.fxs-major-currency-prices-currency-prices-table th{background-color:#f2f2f2}table.fxs-major-currency-prices-currency-prices-table td{color:#fff}table.fxs-major-currency-prices-currency-prices-table td.green{background-color:#9cd6cd}table.fxs-major-currency-prices-currency-prices-table td.red{background-color:#faafb5}table.fxs-major-currency-prices-currency-prices-table td.blue-grey{background-color:#888a93}.fxs-major-currency-prices-currency-prices-legend{font-size:11px;margin:8px;color:#49494f}@media (min-width:680px){.fxs-major-currency-prices-content{font-size:16px;line-height:21.6px}.fxs-major-currency-prices-title{font-size:19.2px;line-height:27.2px}}.fxs-major-currency-prices-currency-price td.dark-green{background-color:#39ad9a}.fxs-major-currency-prices-currency-price td.light-green{background-color:#9cd6cd}.fxs-major-currency-prices-currency-price td.gray{background-color:#888a93}.fxs-major-currency-prices-currency-price td.light-red{background-color:#faafb5}.fxs-major-currency-prices-currency-price td.strong-red{background-color:#f55e6a}
.fxs-event-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-event-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-event-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-event-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:12px}.fxs-event-module-section:last-child{border:none;margin-bottom:0}.fxs-event-module-header{color:#1b1c23;font-weight:700;font-size:16px;font-style:normal;line-height:20px;margin:0;padding:4px 0;background-color:#fff;border:none;position:relative;padding-right:32px}.fxs-event-module-header label{cursor:pointer;display:block}.fxs-event-module-header label:after,.fxs-event-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-event-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-event-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-event-module-container input[type=checkbox]{display:none}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-header label:after{transform:rotate(45deg) translateX(4px)}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-event-module-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0;margin-top:8px}.fxs-event-module-content.why-matters{max-height:0;overflow:hidden;transition:all .3s ease-in-out}.fxs-event-module-container input[type=checkbox]:checked+.fxs-event-module-section .fxs-event-module-content.why-matters{max-height:1000px;margin-top:8px}.fxs-event-module-calendar-title{color:#1b1c23;font-size:17.6px;font-family:Roboto;font-style:normal;font-weight:700;line-height:20.8px;margin:4px 0 0 0}.fxs-event-module-calendar-title-description-wrapper{display:flex;flex-direction:column;gap:12px;border-bottom:1px solid #ececf1;padding-bottom:16px;margin-bottom:16px}.fxs-event-module-inner-calendar{padding:16px}.fxs-event-module-inner-calendar .fxs-event-module-section{padding:0}.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:12.8px;line-height:17px}.fxs-event-module-read-more{display:flex;align-items:center;align-content:center;gap:4px;color:#e4871b;font-size:12.8px;font-family:Roboto;font-style:normal;font-weight:700;line-height:17px;text-decoration:none}.fxs-event-module-read-more svg{width:16px;height:16px}.fxs-event-module-read-more:hover span{text-decoration:underline}.fxs-event-module-release{margin:0;display:flex;flex-direction:column;gap:2px}.fxs-event-module-release>p{font-size:12.8px;font-family:Roboto;font-style:normal;line-height:17px;margin:0}.fxs-event-module-release>p>strong{color:#8c8d91;font-weight:700}.fxs-event-module-release>p>span{color:#8c8d91;font-weight:400}.fxs-event-module-release>p>a{color:#e4871b;font-weight:700;text-decoration:none}.fxs-event-module-release>p>a:hover>span{text-decoration:underline}.fxs-event-module-inner-calendar .fxs-event-module-container{margin:16px 0 0 0;border-top:1px solid #ececf1;padding:12px 0 0 0}@media (min-width:680px){.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:14.72px;line-height:20px}.fxs-event-module-release p{font-size:14.72px;line-height:20px}.fxs-event-module-read-more{font-size:14.72px;line-height:20px}.fxs-event-module-calendar-title{font-size:22.4px;line-height:25.6px}.fxs-event-module-title{font-size:19.2px;line-height:27.2px}.fxs-event-module-header{font-size:19.2px;line-height:25.92px}.fxs-event-module-content{font-size:16px;line-height:21.6px}}The Australian Dollar could advance as the US Dollar struggles after the Fed’s Beige Book suggested weakening economic conditions.President Trump said that the US will set the tariff rates for China over the next two to three weeks.The US Dollar struggles following the release of mixed S&P Global Purchasing Managers Index on Wednesday.The Australian Dollar (AUD) remains steady on Thursday following two consecutive days of losses. The AUD/USD pair could see gains as the US Dollar (USD) faces pressure after the Federal Reserve's (Fed) Beige Book suggested weakening economic conditions.According to the Fed’s April Beige Book, concerns over tariffs have worsened the economic outlook across several regions in the United States (US). Consumer spending presented a mixed picture, while the labor market showed signs of softening, with many districts reporting flat or slightly declining employment levels.US President Donald Trump stated that it's up to China how soon tariffs can be reduced. Trump mentioned that the US will determine the tariff rates for China over the next two to three weeks. "If we don't reach a deal, we're simply setting the price — then it's up to them to decide if they want to proceed," he said. He also noted that China currently isn’t doing any business with the US, adding that the tariff rate remains at 145%. However, National Economic Council Director Hassett said on Wednesday that a full China-US trade deal could take 2-3 years.The preliminary data from Australia’s Judo Bank on Wednesday showed that private sector activity grew for the seventh straight month in April, supported by continued expansion in both manufacturing and services.Australian Dollar stays silent as US Dollar struggles following mixed PMI dataThe US Dollar Index (DXY), which measures the USD against six major currencies, edges lower after registering gains in the previous two successive sessions, trading near 99.60 at the time of writing. The Greenback faced headwinds following the release of mixed S&P Global Purchasing Managers Index (PMI) on Wednesday.The flash S&P Global Composite PMI for April dropped to 51.2 from 53.5, indicating a slowdown in overall business activity. Although the Manufacturing PMI inched up to 50.7, the Services PMI declined sharply to 51.4 from 54.4, pointing to softening demand in the services sector.S&P Global’s Chris Williamson commented that growth momentum is losing steam, while persistent inflationary pressures continue to complicate the Federal Reserve’s efforts to strike a balance.National Economic Council Director Kevin Hassett, President Trump's chief economic adviser, stated that the US Trade Representative (USTR) has 14 meetings scheduled with foreign trade ministers. Hassett also noted that 18 written proposals have been received from these ministers. According to Hassett, China remains open to negotiations.The US Dollar strengthened, supported by comments from US Treasury Secretary Scott Bessent, who described the ongoing tariff standoff as “unsustainable,” suggesting a potential move toward de-escalation.Market sentiment was boosted by US President Donald Trump, who reassured investors that he has no intention of removing Federal Reserve (Fed) Chair Jerome Powell, helping ease concerns about central bank independence and policy direction.President Trump also expressed optimism about ongoing trade negotiations with China, stating that discussions were progressing well. Trump added that while tariffs on Chinese goods wouldn’t be as high as 145%, they also wouldn’t be eliminated entirely.The White House announced on Tuesday that the Trump administration is making headway in negotiating trade deals aimed at easing the broad tariffs introduced earlier this month. According to US Press Secretary Karoline Leavitt, 18 countries have already submitted trade proposals to the US, and President Trump’s trade team is scheduled to meet with representatives from 34 nations this week to explore potential agreements.Federal Reserve Board Governor Adriana Kugler stated on Tuesday that the unexpectedly large US import tariffs are likely to push prices higher. As reported by Reuters, Kugler emphasized that the Federal Reserve should maintain current short-term interest rates until inflationary pressures begin to ease.The Judo Bank Manufacturing PMI edged down to a two-month low of 51.7 in April, compared to 52.1 in March. While manufacturing output remained in expansion territory, the increase in new orders was modest. Meanwhile, the Services PMI dipped slightly to 51.4 from 51.6 in the previous month, and the Composite PMI also eased to 51.4 from 51.6.Australian Dollar tests 0.6350 support near nine-day EMAThe AUD/USD pair is trading near 0.6360 on Thursday, with technical indicators on the daily chart reflecting a bullish tone. The pair continues to hold above the nine-day Exponential Moving Average (EMA), while the 14-day Relative Strength Index (RSI) remains steady above 50, suggesting sustained upward momentum.On the upside, immediate resistance is seen at the recent four-month high of 0.6439, marked on April 22. A decisive break above this level could pave the way for a rally toward the five-month high of 0.6515.The AUD/USD pair is testing immediate support at the nine-day EMA of 0.6346, with stronger support near the 50-day EMA at 0.6296. A sustained drop below these levels would undermine the bullish setup and could lead to deeper losses, potentially exposing the March 2025 low around 0.5914.AUD/USD: Daily Chart Australian Dollar PRICE Today The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the strongest against the US Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -0.35% -0.23% -0.40% -0.12% -0.04% -0.08% -0.33% EUR 0.35% 0.12% -0.02% 0.23% 0.30% 0.27% 0.02% GBP 0.23% -0.12% -0.13% 0.11% 0.19% 0.15% -0.10% JPY 0.40% 0.02% 0.13% 0.25% 0.35% 0.27% 0.09% CAD 0.12% -0.23% -0.11% -0.25% 0.11% 0.06% -0.21% AUD 0.04% -0.30% -0.19% -0.35% -0.11% -0.04% -0.29% NZD 0.08% -0.27% -0.15% -0.27% -0.06% 0.04% -0.26% CHF 0.33% -0.02% 0.10% -0.09% 0.21% 0.29% 0.26% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote). Economic Indicator RBA Bulletin The Bulletin, published by Reserve Bank of Australia, contains articles and speeches that discuss economic and financial developments as well as the Bank's operations. Published monthly until December 2009 and thereafter quarterly. Read more. Last release: Thu Apr 24, 2025 01:30 Frequency: Quarterly Actual: - Consensus: - Previous: - Source: Reserve Bank of Australia
04:19 China's state planner reduces the number of items on its negative list from 117 to 106
The National Development and Reform Commission of the People's Republic of China (NDRC) has trimmed the number of items on its negative list from 117 to 106.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
The National Development and Reform Commission of the People's Republic of China (NDRC) has trimmed the number of items on its negative list from 117 to 106. China's Negative List is a government-issued list that identifies areas and industries in which foreign investment is restricted or forbidden. It's an important part of China’s effort to manage and gradually liberalize its foreign investment policy.The Chinese authorities partially liberalize eight national measures, including telecommunications services, TV production, pharmaceuticals, internet information services for drugs and medical devices, and forest seed imports. Additionally, 17 local measures were removed, such as traffic logistics, freight forwarding, freight information services, forest resource loss identification, vehicle leasing services.Market reaction At the press time, the AUD/USD pair is up 0.06% on the day to trade at 0.6363. US-China Trade War FAQs What does “trade war” mean? Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade barriers, such as tariffs, which result in counter-barriers, escalating import costs, and hence the cost of living. What is the US-China trade war? An economic conflict between the United States (US) and China began early in 2018, when President Donald Trump set trade barriers on China, claiming unfair commercial practices and intellectual property theft from the Asian giant. China took retaliatory action, imposing tariffs on multiple US goods, such as automobiles and soybeans. Tensions escalated until the two countries signed the US-China Phase One trade deal in January 2020. The agreement required structural reforms and other changes to China’s economic and trade regime and pretended to restore stability and trust between the two nations. However, the Coronavirus pandemic took the focus out of the conflict. Yet, it is worth mentioning that President Joe Biden, who took office after Trump, kept tariffs in place and even added some additional levies. Trade war 2.0 The return of Donald Trump to the White House as the 47th US President has sparked a fresh wave of tensions between the two countries. During the 2024 election campaign, Trump pledged to impose 60% tariffs on China once he returned to office, which he did on January 20, 2025. With Trump back, the US-China trade war is meant to resume where it was left, with tit-for-tat policies affecting the global economic landscape amid disruptions in global supply chains, resulting in a reduction in spending, particularly investment, and directly feeding into the Consumer Price Index inflation.
04:16 PBOC sets USD/CNY reference rate at 7.2098 vs. 7.2116 previous
The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Thursday at 7.2098 as compared to the previous day's fix of 7.2116 and 7.3111 Reuters estimate.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Thursday at 7.2098 as compared to the previous day's fix of 7.2116 and 7.3111 Reuters estimate. PBOC FAQs What does the People's Bank of China do? 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. Who owns the PBoC? 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. What are the main policy tools used by the PBoC? Unlike the Western economies, the PBoC uses a broader set of monetary policy instruments to achieve its objectives. The primary tools include a seven-day Reverse Repo Rate (RRR), Medium-term Lending Facility (MLF), foreign exchange interventions and Reserve Requirement Ratio (RRR). However, The Loan Prime Rate (LPR) is China’s benchmark interest rate. Changes to the LPR directly influence the rates that need to be paid in the market for loans and mortgages and the interest paid on savings. By changing the LPR, China’s central bank can also influence the exchange rates of the Chinese Renminbi. Are private banks allowed in China? Yes, China has 19 private banks – a small fraction of the financial system. The largest private banks are digital lenders WeBank and MYbank, which are backed by tech giants Tencent and Ant Group, per The Straits Times. In 2014, China allowed domestic lenders fully capitalized by private funds to operate in the state-dominated financial sector.
03:56 GBP/USD gains traction above 1.3250 on fresh trade uncertainty
The GBP/USD pair gathers strength to near 1.3270, snapping the two-day losing streak during the early Asian session on Thursday. The US Dollar (USD) weakens against the Cable due to the uncertainty surrounding Trump’s trade policies.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}GBP/USD gains ground to around 1.3270 in Thursday’s early Asian session. Fresh trade uncertainty triggered by Trump continues to weigh on the US Dollar. Traders raise their bets on the BoE rate cut in May. The GBP/USD pair gathers strength to near 1.3270, snapping the two-day losing streak during the early Asian session on Thursday. The US Dollar (USD) weakens against the Cable due to the uncertainty surrounding Trump’s trade policies. The US President Donald Trump's administration stated that it has spoken to 90 countries regarding tariffs already. The US will set tariffs for China over the next two to three weeks, and it depends on China how soon tariffs can come down. Furthermore, Trump on Wednesday said that a 25% tariff imposed on cars imported from Canada to the US could go up as Trump is pushing his interest to bolster US auto production and reduce dependence on foreign-made vehicles. Trump’s tariff uncertainty dampens the economic outlook and sentiment, which weigh on the Greenback. On the other hand, the rising bets of the Bank of England rate reductions in the May meeting could undermine the Pound Sterling (GBP) in the near term. Financial markets have priced in nearly 82% odds of a BoE interest rate cut next month, as the effects of Donald Trump's evolving trade war continue to play out in the global economy, according to the LSEG data. The US weekly Initial Jobless Claims are due later on Thursday, along with the Chicago Fed National Activity Index, Durable Goods Orders, and Existing Home Sales. On Friday, the UK Retail Sales data for March will be in the spotlight, which is expected to decline by 0.4% month-on-month after rising by 1.0% in February. Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data.
Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE). How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates.
When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money.
When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects. How does economic data influence the value of the Pound? Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP.
A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall. How does the Trade Balance impact the Pound? Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period.
If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
02:54 Trump administration says cannot give Japan special tariff treatment
The United States told Japan that it cannot give Japan special treatment regarding tariffs during talks held earlier this month, NHK said citing multiple Japanese governments.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
The United States told Japan that it cannot give Japan special treatment regarding tariffs during talks held earlier this month, NHK said citing multiple Japanese governments.Additionally, Treasury Secretary Scott Bessent stated on Wednesday that the US does not have specific currency targets in mind as part of bilateral trade talks with Japan. This comment came in ahead of an expected meeting with Japanese Finance Minister Katsunobu Kato this week.Market reaction At the press time, the USD/JPY pair is down 0.21% on the day to trade at 143.13. Japanese Yen FAQs What key factors drive the Japanese Yen? The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors. How do the decisions of the Bank of Japan impact the Japanese Yen? One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen. How does the differential between Japanese and US bond yields impact the Japanese Yen? Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential. How does broader risk sentiment impact the Japanese Yen? The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen’s value against other currencies seen as more risky to invest in.
02:51 Japan Corporate Service Price Index (YoY) increased to 3.1% in March from previous 3%
Japan Corporate Service Price Index (YoY) increased to 3.1% in March from previous 3%
02:50 Japan Foreign Investment in Japan Stocks declined to ¥705.6B in April 18 from previous ¥1043.7B
Japan Foreign Investment in Japan Stocks declined to ¥705.6B in April 18 from previous ¥1043.7B
02:22 EUR/USD strengthens above 1.1300 on gloomy Fed’s Beige Book
The EUR/USD pair edges higher to around 1.1335 during the early Asian session on Thursday. Mitigating concerns over potential tariff threats by US President Donald Trump exerts some selling pressure on the US Dollar (USD).
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}EUR/USD drifts higher to near 1.1335 in Thursday’s early Asian session.Businesses dealing with the early stages of Trump’s tariffs are seeking to pass increasing costs onto consumers, said the Fed Beige Book. ECB’s Muller said rates may have to fall below neutral on trade. The EUR/USD pair edges higher to around 1.1335 during the early Asian session on Thursday. Mitigating concerns over potential tariff threats by US President Donald Trump exerts some selling pressure on the US Dollar (USD). According to a Federal Reserve’s (Fed) Beige Book report on Wednesday, businesses dealing with the early stages of Trump’s tariffs are looking for ways to pass increasing costs onto consumers. Companies reported receiving alerts from suppliers about increased prices, and they looked to find ways not to absorb the increases while noting uncertainty over the ability to pass them along to customers.At the beginning of the month, Trump imposed a baseline import tax of 10% or more on dozens of nations, but then unexpectedly paused the taxes for 90 days to let countries negotiate lower rates. However, the uncertainty surrounding trade policy and concerns over the economic slowdown in the US could drag the Greenback lower and create a tailwind for EUR/USD. Across the pond, the European Central Bank (ECB) cut its main interest rate by a quarter of a percentage point to 2.25% at its April meeting last week. During the press conference, ECB President Christine Lagarde said that US tariffs on EU goods, which had increased from an average of 3% to 13%, were already harming the outlook for the European economy. Meanwhile, the ECB Governing Council member Madis Muller said on Wednesday that the central bank may have to lower interest rates to levels that stimulate the economy if trade uncertainty proves more damaging for growth. The dovish remarks from the ECB policymakers might weigh on the shared currency in the near term. Euro FAQs What is the Euro? The Euro is the currency for the 19 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day.
EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%). What is the ECB and how does it impact the Euro? The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy.
The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa.
The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde. How does inflation data impact the value of the Euro? Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control.
Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money. How does economic data influence the value of the Euro? Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency.
A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall.
Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy. How does the Trade Balance impact the Euro? Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period.
If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
02:02 South Korea Gross Domestic Product Growth (YoY) below expectations (0.2%) in 1Q: Actual (-0.1%)
South Korea Gross Domestic Product Growth (YoY) below expectations (0.2%) in 1Q: Actual (-0.1%)
02:01 South Korea Gross Domestic Product Growth (QoQ) below expectations (0.1%) in 1Q: Actual (-0.2%)
South Korea Gross Domestic Product Growth (QoQ) below expectations (0.1%) in 1Q: Actual (-0.2%)
01:50 Fed's Hammack sees more runway for balance sheet cuts
Federal Reserve Bank of Cleveland President Beth Hammack said on Wednesday that conditions still support ongoing reductions in the central bank's balance sheet. Hammack added that she believes some active management of market liquidity via Fed interventions is acceptable to her, per Reuters.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
Federal Reserve Bank of Cleveland President Beth Hammack said on Wednesday that conditions still support ongoing reductions in the central bank's balance sheet. Hammack added that she believes some active management of market liquidity via Fed interventions is acceptable to her, per Reuters. Key quotesSupports ongoing quantitative tightening (QT), a slower drawdown pace will allow a longer process.
Fed's balance sheet has shrunk from $9T to $6.8T since QT began in 2022.
Money market liquidity still appears abundant.
Supported Fed’s recent slowdown in balance sheet drawdown.
Some volatility in overnight markets is not a bad thing.
Sees possible cases for return to Fed repos depending on market conditions.
There are costs for keeping the Fed’s balance sheet too large.
Supports work to strengthen standing repo facility.
Costs of too-large balance sheet include market risk-taking.
Does not comment on economic outlook.Market reaction At the time of writing, the US Dollar Index (DXY) is trading 0.21% lower on the day to trade at 99.68. Fed FAQs What does the Federal Reserve do, how does it impact the US Dollar? Monetary policy in the US is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability and foster full employment. Its primary tool to achieve these goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, it raises interest rates, increasing borrowing costs throughout the economy. This results in a stronger US Dollar (USD) as it makes the US a more attractive place for international investors to park their money. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates to encourage borrowing, which weighs on the Greenback. How often does the Fed hold monetary policy meetings? The Federal Reserve (Fed) holds eight policy meetings a year, where the Federal Open Market Committee (FOMC) assesses economic conditions and makes monetary policy decisions. The FOMC is attended by twelve Fed officials – the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four of the remaining eleven regional Reserve Bank presidents, who serve one-year terms on a rotating basis. What is Quantitative Easing (QE) and how does it impact USD? In extreme situations, the Federal Reserve may resort to a policy named Quantitative Easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used during crises or when inflation is extremely low. It was the Fed’s weapon of choice during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy high grade bonds from financial institutions. QE usually weakens the US Dollar. What is Quantitative Tightening (QT) and how does it impact the US Dollar? Quantitative tightening (QT) is the reverse process of QE, whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing, to purchase new bonds. It is usually positive for the value of the US Dollar.
Fed's balance sheet has shrunk from $9T to $6.8T since QT began in 2022.
Money market liquidity still appears abundant.
Supported Fed’s recent slowdown in balance sheet drawdown.
Some volatility in overnight markets is not a bad thing.
Sees possible cases for return to Fed repos depending on market conditions.
There are costs for keeping the Fed’s balance sheet too large.
Supports work to strengthen standing repo facility.
Costs of too-large balance sheet include market risk-taking.
Does not comment on economic outlook.Market reaction At the time of writing, the US Dollar Index (DXY) is trading 0.21% lower on the day to trade at 99.68. Fed FAQs What does the Federal Reserve do, how does it impact the US Dollar? Monetary policy in the US is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability and foster full employment. Its primary tool to achieve these goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, it raises interest rates, increasing borrowing costs throughout the economy. This results in a stronger US Dollar (USD) as it makes the US a more attractive place for international investors to park their money. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates to encourage borrowing, which weighs on the Greenback. How often does the Fed hold monetary policy meetings? The Federal Reserve (Fed) holds eight policy meetings a year, where the Federal Open Market Committee (FOMC) assesses economic conditions and makes monetary policy decisions. The FOMC is attended by twelve Fed officials – the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four of the remaining eleven regional Reserve Bank presidents, who serve one-year terms on a rotating basis. What is Quantitative Easing (QE) and how does it impact USD? In extreme situations, the Federal Reserve may resort to a policy named Quantitative Easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used during crises or when inflation is extremely low. It was the Fed’s weapon of choice during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy high grade bonds from financial institutions. QE usually weakens the US Dollar. What is Quantitative Tightening (QT) and how does it impact the US Dollar? Quantitative tightening (QT) is the reverse process of QE, whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing, to purchase new bonds. It is usually positive for the value of the US Dollar.
01:40 US President Donald Trump says 25% tariff on cars from Canada could go higher
US President Donald Trump said on Wednesday that a 25% tariff imposed on cars imported from Canada to the United States could go up, per Reuters.
.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}
US President Donald Trump said on Wednesday that a 25% tariff imposed on cars imported from Canada to the United States could go up, per Reuters. Key quotes When I put tariffs on Canada - they're paying 25 percent - but that could go up, in terms of cars.
All we're doing is we're saying.
We don’t want your cars … we want to make our own.
Working on a deal with Canada.
Warned that the existing 25% tariff on Canadian car imports could be raised.
Pushing his interest to bolster U.S. auto production and reduce dependence on foreign-made vehicles. Market reaction At the press time, the USD/CAD pair is down 0.05% on the day to trade at 1.3875. Tariffs FAQs What are tariffs? Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas. What is the difference between taxes and tariffs? Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers. Are tariffs good or bad? There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs. What is US President Donald Trump’s tariff plan? During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.
All we're doing is we're saying.
We don’t want your cars … we want to make our own.
Working on a deal with Canada.
Warned that the existing 25% tariff on Canadian car imports could be raised.
Pushing his interest to bolster U.S. auto production and reduce dependence on foreign-made vehicles. Market reaction At the press time, the USD/CAD pair is down 0.05% on the day to trade at 1.3875. Tariffs FAQs What are tariffs? Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas. What is the difference between taxes and tariffs? Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers. Are tariffs good or bad? There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs. What is US President Donald Trump’s tariff plan? During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.
01:18 South Korea BOK Manufacturing BSI remains at 68 in May
South Korea BOK Manufacturing BSI remains at 68 in May
00:59 AUD/JPY Price Analysis: Bearish bias holds despite intraday gains
The AUD/JPY pair was seen around the 91.00 zone in Wednesday’s session, staging a modest intraday advance ahead of the Asian session. Despite the bounce from earlier lows, the pair retains a bearish overall tone, capped by key moving averages and a sluggish momentum backdrop.
AUD/JPY trades near the 91.00 zone after bouncing within Wednesday’s range.The broader trend remains bearish amid pressure from longer-term moving averages.Key resistance is seen near the 91.20–91.80 zone, with support near 90.70.The AUD/JPY pair was seen around the 91.00 zone in Wednesday’s session, staging a modest intraday advance ahead of the Asian session. Despite the bounce from earlier lows, the pair retains a bearish overall tone, capped by key moving averages and a sluggish momentum backdrop. Technical indicators are mixed, with the Relative Strength Index hovering around neutral territory, the MACD suggesting upside potential, and moving averages still tilting south. Price action remains confined to the middle of today’s daily range, which points to indecision in the near term.From a technical perspective, the pair is gaining some ground but lacks the strength to break decisively higher. The RSI is neutral around the 47 mark, while the Stochastic %K and Commodity Channel Index also print neutral readings, reinforcing the lack of clear direction in short-term momentum. The MACD, however, offers a mild bullish signal, hinting at the possibility of further upside attempts.Despite this, the broader outlook remains tilted to the downside. The 20-day, 100-day, and 200-day Simple Moving Averages all slope downward, exerting resistance from above. Notably, the 30-day EMA and SMA, seen near the 91.80–92.20 region, act as dynamic barriers capping recent gains and validating the bearish bias.Immediate support lies in the 90.70–90.60 range, which has held earlier dips. Should sellers regain control, a break below this zone could expose deeper losses. On the upside, resistance clusters around 91.20, 91.25, and 91.85 — levels that coincide with key averages and recent swing highs.Overall, while AUD/JPY managed to claw back some ground during Wednesday’s trade, the prevailing trend remains bearish unless a firm break above the 91.80 zone materializes. Traders should watch for confirmation in the coming sessions as the pair continues to oscillate within a narrowing range.
Daily chart
Daily chart
00:32 NZD/USD Price Analysis: Pair trades steady near 0.5900 with bullish bias ahead of Asia
The NZDUSD pair held steady near the 0.5900 mark on Wednesday, posting a marginal daily gain as traders positioned ahead of the Asian session. The pair continues to consolidate in a tight range after recent upward momentum, suggesting a pause rather than a reversal.
NZD/USD trades around the 0.5900 zone after a quiet Wednesday European session.Mixed momentum signals but moving averages reinforce the bullish tone.Support seen at 0.5930 and 0.5908; resistance stands at 0.5969.The NZDUSD pair held steady near the 0.5900 mark on Wednesday, posting a marginal daily gain as traders positioned ahead of the Asian session. The pair continues to consolidate in a tight range after recent upward momentum, suggesting a pause rather than a reversal.From a technical standpoint, the outlook remains broadly constructive. The Moving Average Convergence Divergence (MACD) indicates a buy signal, while the Relative Strength Index hovers around 62, signaling neutral momentum. Meanwhile, the Average Directional Index near 26 highlights a modest trend strength without strong conviction. On the downside, the Stochastic RSI Fast suggests overbought conditions and flashes a mild sell signal.Despite the mixed short-term oscillators, the moving average setup is clearly bullish. The 20-day simple moving average at 0.5800, alongside the 100-day and 200-day SMAs at 0.5713 and 0.5886 respectively, all point upward. Additional short-term support is backed by the 10-day EMA at 0.5908 and the 10-day SMA at 0.5930.Key support levels are aligned at 0.5930, 0.5908, and 0.5886. Resistance, meanwhile, is seen at 0.5969, which could cap further upside in the near term unless momentum builds decisively. For now, the pair trades within a tight band, retaining a bullish tilt as long as it holds above the 0.5880 area.
Daily chart
Daily chart
00:00 USD/JPY tests 143.00 amid easing Fed fears and trade optimism
The USD/JPY pair trades near the 143.00 mark on Wednesday, up over 1.2% on the day, extending its rebound from midweek lows. The Greenback’s gains are driven by improving risk appetite and signs that US-China trade tensions could ease.
USD/JPY jumps 1.24% to reclaim 143.00 as risk sentiment improves.DXY recovery stalls near 99.50 following weak PMI and tariff remarks.Technical indicators remain bearish despite intraday momentum.The USD/JPY pair trades near the 143.00 mark on Wednesday, up over 1.2% on the day, extending its rebound from midweek lows. The Greenback’s gains are driven by improving risk appetite and signs that US-China trade tensions could ease. Aided by US President Donald Trump’s reassurance that Fed Chair Jerome Powell will remain in his post and by remarks from Treasury Secretary Scott Bessent suggesting tariff rates are unsustainable, the US Dollar (USD) staged a recovery from its three-year lows.However, the underlying tone remains cautious. The S&P Global Composite PMI for April fell to 51.2 from 53.5, confirming slowing business momentum. The Services PMI dropped sharply to 51.4 from 54.4, while the Manufacturing PMI edged up slightly to 50.7. The Fed’s Beige Book echoed those concerns, noting slowing wage growth and persistent inflation due to tariff-driven input cost pressures. These reports reaffirm investor doubts about the economy’s strength, especially as the Fed balances rising inflation with waning activity.Markets initially welcomed Bessent’s comments and the White House’s potential openness to reducing tariffs. However, equities gave back early gains, and the DXY failed to hold above 99.50, suggesting that the Greenback’s upside remains fragile.
Technical Analysis
From a technical standpoint, USD/JPY remains bearish despite today’s rally. The pair is trading near the top of its daily range (141.45–143.49), but indicators remain soft. The Relative Strength Index (RSI) is neutral at 41.21, and the MACD prints a sell signal. The Bull Bear Power at -2.356 and Commodity Channel Index at -64.788 are both neutral. Key moving averages also lean bearish: the 20-day SMA (145.52), 100-day SMA (151.45), and 200-day SMA (150.24) are all trending lower, confirmed by the 30-day EMA (145.91) and SMA (146.77).Immediate support is located at 143.11, followed by 142.62 and 141.57. Resistance levels are seen at 144.72, 145.52, and 145.54. The pair may struggle to clear these zones unless macro conditions shift decisively in favor of the USD.With lingering doubts over the Fed’s autonomy and mixed macro data, the USD/JPY outlook remains capped, even as risk-on flows provide temporary support.
Technical Analysis
From a technical standpoint, USD/JPY remains bearish despite today’s rally. The pair is trading near the top of its daily range (141.45–143.49), but indicators remain soft. The Relative Strength Index (RSI) is neutral at 41.21, and the MACD prints a sell signal. The Bull Bear Power at -2.356 and Commodity Channel Index at -64.788 are both neutral. Key moving averages also lean bearish: the 20-day SMA (145.52), 100-day SMA (151.45), and 200-day SMA (150.24) are all trending lower, confirmed by the 30-day EMA (145.91) and SMA (146.77).Immediate support is located at 143.11, followed by 142.62 and 141.57. Resistance levels are seen at 144.72, 145.52, and 145.54. The pair may struggle to clear these zones unless macro conditions shift decisively in favor of the USD.With lingering doubts over the Fed’s autonomy and mixed macro data, the USD/JPY outlook remains capped, even as risk-on flows provide temporary support.
การเตือนความเสี่ยง: การเทรดมีความเสี่ยง เงินทุนของคุณมีความเสี่ยง Exinity Limited มีการกำกับดูแลโดย FSC (มอริเชียส)
การเตือนความเสี่ยง: การเทรดมีความเสี่ยง เงินทุนของคุณมีความเสี่ยง Exinity Limited มีการกำกับดูแลโดย FSC (มอริเชียส)
ขอต้อนรับเข้าสู่การสนับสนุนแบบไลฟ์ของ FXTM
โปรดเลือกวิธีการที่คุณต้องการให้ติดต่อ
| 1 | ติดตั้งแอพฯ WhatsApp |
| 2 | |
| 3 | เริ่มแชทได้เลย! |
| 1 | เพิ่มหมายเลขต่อไปนี้ของ FXTM ลงในรายชื่อผู้ติดต่อของคุณ: Like and follow FXTM on Facebook. |
| 2 | |
| 3 | Find FXTM by searching on the top search bar. |
| 4 | |
| 5 | เริ่มแชทได้เลย! |
| 1 | ติดตั้งแอพฯ Telegram |
| 2 | |
| 3 | เริ่มแชทได้เลย! |
หากคุณต้องการติดต่อทีมงานฝ่ายสนับสนุนลูกค้าของเราในช่วงวันหยุดสุดสัปดาห์ พวกเขาพร้อมให้บริการทางไลฟ์แชท, Viber, Telegram และ Facebook Messenger ในวันเสาร์ตั้งแต่เวลา 11:00 ถึง 16:00 และในวันอาทิตย์ตั้งแต่เวลา 12:00 ถึง 20:00 เวลาทั้งหมดเป็นเวลา GMT+2 (GMT+3 ในช่วง DST)
 | |
สแกน QR Code นี้เพื่อเอาไว้ติดต่อเรา! ! | |
| 1 | ดาวน์โหลดและเปิดบัญชี WeChat |
| 2 | เลือก "เพิ่มรายชื่อผู้ติดต่อ" |
| 3 | เลือก "สแกน QR Code" |
| 4 | สแกนโค้ดนี้เพื่อเอาไว้ติดต่อเรา! |