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.
The US Dollar Index (DXY), which measures the US Dollar (USD) against a basket of six major currencies, is depreciating after registering gains in the previous session, trading near 99.60 during the European hours on Tuesday.
EUR/USD moves higher to near 1.1360 in Tuesday’s North American session. The major currency pair gains as the US Dollar (USD) slumps ahead of the Federal Reserve’s (Fed) interest rate decision, which will be announced on Wednesday.
After months of speculation, eToro has finally kicked off its public listing roadshow. The Israeli trading platform is targeting a valuation between $3.
Shir Shalom, who recently departed from eToro after nearly four years in leadership roles, has been appointed as Head of the Economic Department at Phoenix Financial.
The U.S. Commodity Futures Trading Commission ( CFTC ) has moved to voluntarily dismiss its appeal against Kalshi, effectively allowing the New York-based derivatives trading platform to continue o...
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