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USD Index turns highly volatile near 99.50 after Trump’s bill advances to Senate
USD Index turns highly volatile near 99.50 after Trump’s bill advances to Senate
The US Dollar (USD) exhibits volatile action during North American trading on Thursday, with the US Dollar Index (DXY) showing wild moves near 99.50 after the United States (US) House of Representatives approved President Donald Trump’s tax bill narrowly and passed it to the Senate.
DollarIndex
FiscalPolicy
UnitedStates
PMI
Employment
EUR/GBP pulls back as Eurozone business activity contracts, UK services gain momentum
EUR/GBP pulls back as Eurozone business activity contracts, UK services gain momentum
The EUR/GBP cross edges lower on Thursday, retreating after a three-day rally to trade near 0.8420 at the start of the American session as investors digest a mixed batch of economic data from both sides.
EURGBP
Crosses
PMI
Inflation
BOE
US stock futures flat. Urban Outfitters upbeat on the consumer
US stock futures flat. Urban Outfitters upbeat on the consumer
Nice bounce as one consumer-facing company doesn't see weakness
CME’s FX Marketplace Posts $1.4 Billion Daily Volume, Attracts 40 Clients in First Month
CME’s FX Marketplace Posts $1.4 Billion Daily Volume, Attracts 40 Clients in First Month
News Discussion Forum
By Finance Magnates
CME’s FX Marketplace Posts $1.4 Billion Daily Volume, Attracts 40 Clients in First Month
CME Group's new FX Spot+ platform surged to $1.4 billion in trading volume in a single day, attracting over 40 active clients within its first month.
CME Group
USDCAD bounces.  Price remains in up-and-down low area
USDCAD bounces. Price remains in up-and-down low area
The 1.3759 to 1.3904 area was a consolidation zone in April and into early May
US: Initial Jobless Claims dropped to 227K last week
US: Initial Jobless Claims dropped to 227K last week
US citizens filing new applications for unemployment insurance receded a tad to 227K for the week ending May 17, as reported by the US Department of Labor (DOL) on Thursday. This print came in below initial estimates and the previous week's unrevised tally of 229K.
Employment
UnitedStates
DollarIndex
EconomicIndicator
US initial jobless claims 227K vs 230k estimate
US initial jobless claims 227K vs 230k estimate
The weekly US initial jobless claims and continuing claims data
GBP/USD turns cautious on UK PMI Manufacturing miss, with focus on US data
GBP/USD turns cautious on UK PMI Manufacturing miss, with focus on US data
The British Pound Sterling (GBP) has been gaining steadily against the US Dollar (USD) since January, reflecting diverging economic conditions between the United Kingdom and the United States. 
GBPUSD
Majors
Macroeconomics
Fundamental Analysis
Technical Analysis
The USD is little changed to start the US session. What does the recent price action say?
The USD is little changed to start the US session. What does the recent price action say?
A technical look at the EURUSD ,USDJPY, and GBPUSD to kickstart the US session
Fed's Waller: Tariffs will be a one time price increase
Fed's Waller: Tariffs will be a one time price increase
In an interview with Fox Business on Thursday, Federal Reserve (Fed) Governor Christopher Waller reiterated that he continues to believe that tariffs will cause a one-time increase in prices and added that the Fed's standard playbook is to look through one-time price impacts, per Reuters.
CentralBanks
Fed
ECB Accounts: Inflation expected to hover close to target of 2% for remainder of year
ECB Accounts: Inflation expected to hover close to target of 2% for remainder of year
The accounts of the European Central Bank's (ECB) April policy meeting showed on Thursday that policymakers had increased confidence that inflation would return to target in line with the March baseline projections.
ECB
CentralBanks
JPY outperforming with modest gain – Scotiabank
JPY outperforming with modest gain – Scotiabank
Japanese Yen (JPY) is entering Thursday’s NA session with a modest gain against the US Dollar (USD), a lone performer in an environment of mild (albeit broad-based) USD strength, Scotiabank's Chief FX Strategist Shaun Osborne notes.
USDJPY
Banks
Japan
Technical Analysis
BOJ
GBP trading well despite deeply contractionary mfg PMI – Scotiabank
GBP trading well despite deeply contractionary mfg PMI – Scotiabank
Pound Sterling (GBP) is down 0.2% against the US Dollar (USD) and a mid-performer among the G10, trading relatively well despite a generally disappointing preliminary PMI release, Scotiabank's Chief FX Strategist Shaun Osborne notes.
GBPUSD
Banks
Technical Analysis
CAD steady, risk reversal pricing, technical lean bullish – Scotiabank
CAD steady, risk reversal pricing, technical lean bullish – Scotiabank
The Canadian Dollar (CAD) is down marginally, reflecting the minor lift in the US Dollar (USD) generally more than anything else.
USDCAD
Banks
Technical Analysis
BOC
Canada
Bullish
Forexlive European FX news wrap: The US House passes Trump's tax bill
Forexlive European FX news wrap: The US House passes Trump's tax bill
Forex news from the European morning session on May 22, 2025
Session wrap
Wrap Europe
USD consolidates as Treasurys steady – Scotiabank
USD consolidates as Treasurys steady – Scotiabank
The US Dollar (USD) is consolidating. Global market sentiment remains soft, following yesterday’s hefty US equity market losses. Asian and European stocks are down and US equity futures are narrowly mixed, Scotiabank's Chief FX Strategist Shaun Osborne notes.
DollarIndex
Banks
Technical Analysis
Fed
EUR soft but in range as markets digest disappointing PMIs/stronger IFO – Scotiabank
EUR soft but in range as markets digest disappointing PMIs/stronger IFO – Scotiabank
Euro (EUR) is entering Thursday’s NA session with a 0.3% decline against the US Dollar (USD) and underperforming most of the G10 currencies with the exception of SEK and NZD, Scotiabank's Chief FX Strategist Shaun Osborne notes.
EURUSD
Banks
Technical Analysis
Bessent and Kato commit to market-determined exchange rates – Commerzbank
Bessent and Kato commit to market-determined exchange rates – Commerzbank
This US administration does not formulate any doctrine or strategy in important policy areas that could serve as guidelines for current policy measures.
Banks
Japan
China
UnitedStates
TradeWar
AUD/USD slips below 0.6420 ahead of US PMI data
AUD/USD slips below 0.6420 ahead of US PMI data
The Australian Dollar (AUD) inches lower against the US Dollar (USD) on Thursday, erasing earlier gains. The AUD/USD pair is holding within a narrow range, down 0.50% at the time of writing, to trade around 0.6420 in the European trading hours.
AUDUSD
RBA
PMI
Macroeconomics
USD/JPY Price Forecast: Flattens around 143.50
USD/JPY Price Forecast: Flattens around 143.50
The USD/JPY pair recoups its initial losses and flattens around 143.50 during European trading hours on Thursday. The pair rebounds as the US Dollar (USD) attracts bids on Thursday after a three-day losing streak.
USDJPY
DollarIndex
UnitedStates
Japan
SupportResistance
AUD slips as soft PMI reinforces RBA dovishness – BBH
AUD slips as soft PMI reinforces RBA dovishness – BBH
AUD/USD remains under pressure as weak May PMI data supports expectations for RBA rate cuts. The pair struggles to hold above its 200-DMA, with markets now pricing in 75bps of easing over the next year, BBH FX analysts report.
AUDUSD
Technical Analysis
RBA
Banks
USD/JPY slips as JGB yields surge and BoJ signals caution – BBH
USD/JPY slips as JGB yields surge and BoJ signals caution – BBH
USD/JPY had a brief uptick after the US and Japan confirmed existing currency policy and did not discuss foreign exchange levels. USD/JPY subsequently edged lower while Japanese government bond yields are breaking higher at the long-end of the curve, BBH FX analysts report.
USDJPY
BOJ
Currencies
Gold slumps as US Dollar gains on strong US PMI data
Gold slumps as US Dollar gains on strong US PMI data
Gold price (XAU/USD) slumps below $3,300 during North American trading hours on Thursday after surrendering initial gains, following a revisit of the two-week high around $3,345 earlier in the day.
Gold
XAUUSD
DollarIndex
UnitedStates
SEO
US House Passes Trump tax bill, sends it to Senate
US House Passes Trump tax bill, sends it to Senate
United States (US) President Donald Trump's sweeping tax and spending bill passed the Republican-controlled House of Representatives on Thursday. The bill will now move to the Senate floor.
UnitedStates
DollarIndex
Politics
The US House is voting
The US House is voting
First the motion to recommit, then comes passage of the reconciliation package
market overview
Discover TradingPRO at Finance Magnates Africa Summit 2025
Discover TradingPRO at Finance Magnates Africa Summit 2025
News Discussion Forum
By Finance Magnates
Discover TradingPRO at Finance Magnates Africa Summit 2025
TradingPro's presence at Booth 32 will be more than a showcase—it will be a live experience
EUR/GBP rises after UK inflation surprise challenges BoE outlook – Danske Bank
EUR/GBP rises after UK inflation surprise challenges BoE outlook – Danske Bank
EUR/GBP ended the day higher following UK inflation data for April surprising significantly to the topside, relative to both consensus and BoE estimate, Danske Bank's FX analysts report.
EURGBP
BOE
Banks
UnitedKingdom
Brokeree’s Cross-Platform Copy Trading Gains Support from EBC to Guide Retail Traders
Brokeree’s Cross-Platform Copy Trading Gains Support from EBC to Guide Retail Traders
News Discussion Forum
By Finance Magnates
Brokeree’s Cross-Platform Copy Trading Gains Support from EBC to Guide Retail Traders
EBC Financial has entered into a knowledge partnership with Brokeree to support education and knowledge-sharing in the area of copy trading.
Brokeree Solutions
retail
Copy Trade
retail FX
EBC Financial Group
ECB's Holzmann: The Euro's importance as a global currency is set to increase
ECB's Holzmann: The Euro's importance as a global currency is set to increase
European Central Bank (ECB) policymaker Robert Holzmann said on Thursday, “the Euro's importance as a global currency is set to increase.”
EURUSD
ECB
CentralBanks
InterestRate
EUR/USD: Current upward bias to remain intact above the 55-day EMA – UOB Group
EUR/USD: Current upward bias to remain intact above the 55-day EMA – UOB Group
Improving upward momentum indicates EUR/USD could maintain its upward bias; it is premature to expect a retest of the 1.1573 high, UOB Group's FX analyst Quek Ser Leang reports.
EURUSD
Technical Analysis
Banks