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ForexLive Asia-Pacific FX news wrap: USD/JPY swings. PBoC cuts. RBA next.
Forex news for Asian trading on Tuesday, May 20, 2025
Session wrap
Wrap Asia
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Fxstreet
GBP/USD maintains position above 1.3350 as US Dollar weakens on economic concerns
GBP/USD continues its upward momentum for the second consecutive session, hovering near 1.3360 during Asian trading hours on Tuesday. The Pound Sterling (GBP) is strengthening as the US Dollar (USD) softens in response to Moody’s Ratings downgrading the US credit rating from Aaa to Aa1.
GBPUSD
Majors
Macroeconomics
UnitedKingdom
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US and Japan are expected to hold talks on Friday, May 23
US Treasury Secretary Bessent not expected to attend Japan, US talks on Friday
JPY
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USD/INR strengthens on bets for more RBI rate cuts
The Indian Rupee (INR) weakens on Tuesday. Consumer inflation in India fell more than expected to a near six-year low in April, strengthening bets that the Reserve Bank of India (RBI) is due to extend its rate cutting cycle. This, in turn, undermines the Indian currency.
USDINR
India
SEO
Macroeconomics
EmergingMarkets
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NZD/USD remains subdued near 0.5900 following PBoC rate cut
NZD/USD edges lower during Tuesday’s Asian session, trading around 0.5920 after climbing over 0.50% in the previous session. The pair remained under pressure following the People's Bank of China's (PBoC) latest interest rate decision.
NZDUSD
Majors
Macroeconomics
NewZealand
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Japanese Yen builds on steady intraday ascent; USD/JPY drops to nearly two-week low
The Japanese (JPY) attracts fresh buyers following an Asian session downtick on Tuesday, which, along with subdued US Dollar (USD) price action, drags the USD/JPY pair to a nearly two-week low, around the 144.60 area in the last hour.
USDJPY
RiskAppetite
BOJ
Fed
SEO
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China's state planner approved 27 fixed asset investment projects in January - April
The National Development and Reform Commission of the People's Republic of China (NDRC) is China's state planner.
CNY
China Stock Market
China
CNH
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Australia's Opposition coalition splits as National Party pulls back
The Australian Dollar (AUD) is losing further ground across its major rivals, undermined by the latest political turmoil in Australia. However, traders remain cautious ahead of the Reserve Bank of Australia (RBA) policy announcement due later at 4.30 GMT.
AUDUSD
Australia
Politics
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Australian Dollar declines as RBA's Bullock signals further policy adjustments
The Australian Dollar (AUD) dips against the US Dollar (USD) on Tuesday, following a gain of over 0.50% in the previous session. The AUD/USD pair remains under pressure after the interest rate decisions from the Reserve Bank of Australia (RBA) and the People's Bank of China (PBoC).
AUDUSD
SEO
Macroeconomics
Majors
Australia
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Australian politics - Opposition coalition splits. Nationals withdraw.
The split follows a big loss for the coalition in the recent election. The governing Labor Party was returned with an enhanced and sweeping mandate at their expense.
AUD
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South Korea, U.S. will resume tariff talks on Tuesday, aiming for July trade deal
This will be the second round of talks for the two
KRW
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Japan’s Kato hints at plans to speak with US Treasury Secretary Scott Bessent on FX this week
Japan’s Finance Minister Shunichi Kato said on Tuesday that he expects any talks with US Treasury Secretary Scott Bessent this week to be based on this understanding of foreign exchange.
Japan
UnitedStates
Macroeconomics
TradeWar
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PBOC cuts Loan Prime Rates in May, as expected
The People’s Bank of China (PBOC), China's central bank, announced a cut in its Loan Prime Rates (LPRs) on Tuesday. The one-year LPR was cut from 3.1% to 3.00%, while the five-year LPR was cut from 3.60% to 3.50%.
PBOC
InterestRate
Macroeconomics
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Gold Price Forecast: XAU/USD holds below $3,250 on modest US Dollar strength
The Gold price (XAU/USD) edges lower to around $3,230 during the early Asian session on Tuesday, pressured by a modest US Dollar (USD) rebound. However, the concerns over the US economic health after Moody's downgrades the US national credit rating might cap its downside.
Gold
XAUUSD
Commodities
Macroeconomics
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Japan finance minister Kato hints at plans to speak with Bessent on FX this week
USD/JPY back down again!
JPY
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PBOC sets USD/CNY reference rate at 7.1931 vs. 7.1916 previous
The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Tuesday at 7.1931 as compared to the previous day's fix of 7.1916 and 7.2112 Reuters estimate.
USDCNY
PBOC
CentralBanks
Currencies
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Akazawa: Japan, U.S. conducted working-level talks on bilateral trade DC on Monday
Japan economy minister Akazawa
JPY
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China says US undermined the consensus reached in Geneva tariff talks
China on Monday accused the US of undermining the two countries’ preliminary trade agreement after the US issued an industry warning against using Chinese chips that singled out Huawei, per CNBC.
UnitedStates
China
Macroeconomics
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WTI edges higher above $62.00 as US-Iran nuclear talks stall
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $62.10 during the Asian trading hours on Tuesday. The WTI price edges higher on signs of a breakdown in US negotiations with Iran over its nuclear program, while Moody's downgrades the US national credit rating.
Oil
WTI
Commodities
Macroeconomics
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EUR/USD bolstered by weakness in USD flows on Monday
EUR/USD tested into the high end on Monday, drifting briefly toward the 1.1300 handle before settling back slightly, although the pair still ended the day higher overall. However, Fiber remains trapped in a near-term consolidation zone.
EURUSD
PMI
Currencies
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ICYMI - China said the US has undermined the consensus reached in Geneva tariff talks
On Monday, US time, China issued a statement on US adjusting chip export controls
CNY
China Stock Market
China
CNH
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USD/CAD remains weak near 1.3950 ahead of Canadian CPI release
The USD/CAD pair softens to near 1.3950 during the early Asian session on Tuesday. The Greenback edges lower against the Canadian Dollar (CAD) on a surprise downgrade of the US government's credit rating late on Friday and renewed trade tensions.
USDCAD
Majors
Macroeconomics
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US President Donald Trump: Zelenskyy challenging to work with
US President Donald Trump added further comments on Monday to his earlier statements about impending Russia-Ukraine ceasefire talks.
UnitedStates
RussianFederation
Ukraine
Politics
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GBP/USD breaks above recent consolidation on fresh Greenback weakness
GBP/USD rose at the outset of the new trading week, briefly testing the 1.3400 handle for the second time in two weeks. Despite an early bullish push in cable bids, buyers couldn’t lock in a fresh high, and price action trimmed back to a more sedate 1.3350.
GBPUSD
CPI
PMI
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Bullock Speech: RBA Governor speaks on interest rate outlook after the expected 25 bps cut
Reserve Bank of Australia (RBA) Governor Michele Bullock is addressing the press conference, explaining the reason behind the interest rate cut to 3.85% in the May policy meeting.
RBA
AUDUSD
CentralBanks
SEO
InterestRate
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India discussing US trade deal structured in three tranches, interim agreement before July
Every one is discussing!
USD
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AUD/JPY Price Forecast: Climbs ahead of RBA decision, floats around 93.50
The AUD/JPY rallied on Monday, gaining over 0.30% as traders brace for the Reserve Bank of Australia (RBA) monetary policy decision. Nevertheless, news that the People's Bank of China (PBoC) might reduce rates and improve risk appetite, as the central bank takes measures to propel China’s economy.
AUDJPY
Technical Analysis
Crosses
Currencies
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Chinese bank has cut its yuan deposit rate, as expected
China banks expected to cut deposit rates today (Tuesday, May 20, 2025)
CNY
China Stock Market
China
CNH
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AUD/NZD Price Analysis: Cross holds steady near 1.09 amid mixed momentum
The AUD/NZD pair is trading near the 1.09 zone on Monday, reflecting a cautiously bullish tone as the market approaches the Asian session.
Crosses
Technical Analysis
Currencies
AUDNZD
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General Motors to stop exporting vehicles from the US to China
Reuters cite a GM company memo
China
USD
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Silver Price Forecast: XAG/USD hovers near $32.30 as USD extends losses
Silver price registers modest gains of 0.20% on Monday as US Treasury bond yields edge lower and the US dollar loses ground, as depicted by the US Dollar Index (DXY). The XAG/USD trades at $32.33 after bouncing off daily lows of $32.24.
XAGUSD
Silver
Technical Analysis
Metals
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Fxstreet
AUD/USD rebounds as US Dollar weakens on credit downgrade
The AUD/USD pair is trading around 0.6450 on Monday, extending its recovery from recent lows as the US Dollar (USD) faces renewed selling pressure following Moody's decision to downgrade the United States' long-term sovereign rating from AAA to AA1.
AUDUSD
Currencies
Majors
Technical Analysis
Fundamental Analysis
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Forexlive Americas FX news wrap 19 May: The Fed is uncertain.Moody downgrade fear subsides
Forex news for North American trading on May 19, 2025
Session wrap
Wrap Nth America
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Fxstreet
NZD/JPY Price Analysis: Cross holds gains near 85.90 amid mixed momentum
The NZD/JPY pair is trading near the 85.90 zone on Monday, reflecting minor gains as the market approaches the Asian session. Despite the recent upside, the broader technical picture remains mixed, with conflicting signals across both short-term and long-term indicators, keeping traders cautious.
Crosses
Currencies
NZDJPY
Technical Analysis
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Finance Magnates
Behind Circle’s Public Listing Push Lies Private Bidding War With Crypto Giants: Report
As stablecoins gain adoption in the global financial system, a high-stakes power play is emerging behind the scenes. In early April, Circle filed paperwork to go public in the U.
Circle
Ripple
coinbase
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Mexican Peso surges as US Dollar gets battered on Moody’s news
The Mexican Peso (MXN) advanced by 0.60% against the US Dollar (USD) on Monday, as investors shifted away from the Greenback amid Moody’s International rating agency's review of the US government's debt prospects. USD/MXN trades at 19.32 after hitting a daily high of 19.48.
USDMXN
Banxico
Mexico
EmergingMarkets
SEO
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ICYMI - China's state banks are expected to cut deposit rates today (Tuesday China time)
Reuters had the report, citing unnamed sources
CNY
China Stock Market
China
CNH
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Fxstreet
NZD/USD rises as Trump touts Ukraine talks, Moody’s downgrade drags US Dollar
The NZD/USD pair is climbing at the start of the week, trading around the 0.5900 level after President Donald Trump claimed credit for restarting Russia-Ukraine peace talks.
NZDUSD
Currencies
Majors
Macroeconomics
Fundamental Analysis
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