The CAD is entering Tuesday’s NA session unchanged vs. the USD, its range tightly bound within a marginally bullish (USD/CAD bearish) trend channel from mid April, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Markets are generally quiet and G10 currencies are trading in a mixed fashion against the US Dollar (USD), with no clear overriding theme or risk tone as we head into Tuesday’s NA session, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The Mexican Peso (MXN) is rising against the US Dollar (USD) on Tuesday, reversing earlier losses as traders reduced Dollar exposure ahead of Wednesday’s highly anticipated Federal Reserve (Fed) policy decision.
Silver price (XAG/USD) surges to near $33.00 during European trading hours on Tuesday. The white metal strengthens as demand for safe-haven assets increasez after United States (US) President Donald Trump threatened to impose tariffs on pharmaceuticals.
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is sliding lower on Tuesday with market nervousness picking up again.
The AUD/USD pair corrects sharply to near 0.6450 in Tuesday’s European session from the five-month high of 0.6500 posted on Monday. The Aussie pair retraces as the Australian Dollar (AUD) underperforms across the board due to a slowdown in business activity in China.
USD/CNH has lost traction after failing to hold above its 50-DMA and now trades below key March support, with the pair’s inability to reclaim 7.30 suggesting further downside risk toward 7.14 and 7.10, Société Générale's FX analysts note.
AUD/USD has staged a steady recovery from last month’s lows and is now testing the 200-day moving average, with a breakout above February highs near 0.6410 seen as critical for unlocking further upside toward 0.6550 and beyond, Société Générale's FX analysts note.
April’s downside surprise in Swiss inflation has reinforced expectations of a June rate cut by the SNB, with markets now entertaining the possibility of a return to negative interest rates as the strong franc and global uncertainties weigh on growth and price stability, Danske Bank's FX analysts rep
Rebound amid apparent positive divergence suggests US Dollar (USD) could rise further to 7.2400 vs Chinese Yuan (CNH); strong resistance at 7.2800 is unlikely to come under threat. In the longer run, USD could range-trade for a few days before resuming its decline; the level to watch is at 7.1700,
Asian currencies rallied sharply, led by a historic surge in the Taiwan dollar, as growing speculation over imminent trade talks between the US and its Asian partners boosted market sentiment and fueled hopes of policy shifts, Danske Bank's FX analysts report.
US Dollar (USD) is expected to trade in a 143.40/144.85 range vs Japanese Yen (JPY). In the longer run, USD has likely entered a consolidation phase and is likely to trade between 142.20 and 146.70 for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Although the US dollar has found temporary support from equity gains and easing trade tensions, lingering soft data and early signs of labour market weakness suggest the greenback remains vulnerable to a gradual decline, reinforcing a bearish medium-term outlook, Danske Bank's FX analysts report.
New Zealand Dollar (NZD) is likely to trade in a range vs US Dollar (USD), probably between 0.5930 and 0.5980. In the longer run, for the time being, NZD is expected to trade in a 0.5890/0.6005 range, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
OPEC+ is implementing another aggressive supply hike. Effective in June, this increase solidifies a shift in policy. With prospects of further large supply increases in the months ahead, we revised our oil forecasts lower, ING's commodity expert Warren Patterson notes.
Oil prices remain under pressure after OPEC+ confirmed a third consecutive monthly output hike, reinforcing bearish sentiment in a market already unsettled by global trade tensions and geopolitical risks, Danske Bank's FX analysts report.
The most notable development in FX over the past few days has been the exceptional rally in the Taiwanese dollar, and to a lesser extent in other Asian currencies (MYR, THB, KRW).
Australian Dollar (AUD) is likely to trade in a range between 0.6420 and 0.6485 vs US Dollar (USD). In the longer run, further AUD strength is not ruled out, but it must first break clearly above 0.6510, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Gold (XAU/USD) hits $3,380 at the time of writing, having printed a fresh two-week high as geopolitical tensions around the globe continue to support investors’ demand for safe-haven assets.
The USD/CAD pair is retracing its recent gains from the previous session, trading around 1.3820 during the European hours on Tuesday. The daily chart's technical analysis suggested a sustained bearish sentiment, as the pair continues to trade within a descending channel pattern.
EUR/GBP seems to be attracting buyers around the 0.850 level and is awaiting another clear-cut GBP bullish catalyst for a break lower, ING's FX analyst Francesco Pesole notes.
Reports emerged yesterday morning that the Bank of England (BoE) may lower its inflation and growth forecasts at Thursday's meeting and remove the reference to 'gradual' interest rate cuts from its statement.
Tentative buildup in momentum suggests Pound Sterling (GBP) is likely to trade with a downward bias vs US Dollar (USD); any decline is unlikely to reach 1.3230.
There are no major data releases in the eurozone calendar this week, with the focus on some ECB speakers instead. Today, arch-dove Panetta speaks at an event in Asia.
It was probably only a matter of time before reports began to emerge that Chinese companies were trying to reroute their goods through other Asian countries for export to the US.
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