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Fed: Powell's policy problem – UBS
Fed: Powell's policy problem – UBS
Federal Reserve (Fed) Chairman Jerome Powell faces difficult decisions in terms of monetary policy as the Fed faces an increasingly uncertain economic outlook, UBS' economist Paul Donovan says.
Fed
CentralBanks
Banks
InterestRate
EUR/USD clears channel resistance, eyes 1.1470 next – Société Générale
EUR/USD clears channel resistance, eyes 1.1470 next – Société Générale
EUR/USD is showing renewed upward momentum after defending key support, breaking out of its recent channel and regaining technical strength. With bullish signals in place, the pair appears poised for further gains in the near term, Société Générale's FX analysts note.
EURUSD
Technical Analysis
Banks
Bitcoin consolidates as traders await the NFP and CPI reports
Bitcoin consolidates as traders await the NFP and CPI reports
The lack of changes in the macro picture and the waiting for the key US data has caused the bullish momentum to wane
Silver price today: Silver rises, according to FXStreet data
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Thursday, according to FXStreet data.
Silver
Commodities
Metals
AUD/USD returns above 0.6500 amid broad-based USD weakness
AUD/USD returns above 0.6500 amid broad-based USD weakness
The Australian Dollar is trading higher for the second consecutive day on Thursday as US Dollar weakness offsets the impact of the downbeat Australian GDP figures seen on Wednesday, pushing the pair to one-week highs above 0.6500.The US Dollar weakness is the main driver of an otherwise calm market
AUDUSD
Currencies
Majors
BoE DMP Survey: UK firms’ inflation expectations remain at 3.2% in the May quarter
BoE DMP Survey: UK firms’ inflation expectations remain at 3.2% in the May quarter
The latest Bank of England (BoE) Decision Maker Panel (DMP) quarterly survey released on Thursday showed that “one-year ahead expected CPI inflation by the UK firms remained unchanged at 3.2% in the quarter to May.”
GBPUSD
Inflation
BOE
CentralBanks
UnitedKingdom
USD/CHF holds gains above 0.8200 following Swiss Unemployment Rate
USD/CHF holds gains above 0.8200 following Swiss Unemployment Rate
USD/CHF recovers its recent losses of over 0.50% registered in the previous session, trading around 0.8200 during the European hours on Thursday. The seasonally adjusted Swiss Unemployment Rate rose to 2.9% month-over-month in May, indicating a lack of expansion within the Swiss labor market.
USDCHF
Majors
Macroeconomics
Switzerland
Eurozone April PPI -2.2% vs -1.8% m/m expected
Eurozone April PPI -2.2% vs -1.8% m/m expected
Latest data released by Eurostat - 5 June 2025
On the surface, things are still going well in the US – Commerzbank
On the surface, things are still going well in the US – Commerzbank
The hard US data still looks pretty good and that there are no real signs of the feared stagflation yet. This is hardly surprising, as most tariffs have been suspended for 90 days, so markets are unlikely to see any effects until the tariffs are actually put in place.
Banks
UnitedStates
DollarIndex
Fed
Inflation
USD: 'Slightly pessimistic and uncertain' – ING
USD: 'Slightly pessimistic and uncertain' – ING
'Slightly pessimistic and uncertain' was the characterisation of the US outlook expressed in the Fed's Beige Book released last night and ahead of the next FOMC meeting on 19 June.
DollarIndex
Banks
Technical Analysis
Fed
EUR: No big surprises from the ECB – Commerzbank
EUR: No big surprises from the ECB – Commerzbank
The market is convinced that the ECB will cut its key rates by another 25 basis points today. This will lower the deposit rate to 2.00%.
EURUSD
Banks
Technical Analysis
ECB
EUR: Dovish ECB could keep Euro gains in check – ING
EUR: Dovish ECB could keep Euro gains in check – ING
The ECB is widely expected to cut rates by 25bp today. This will take the deposit rate to 2.00%. The market currently prices a further 25bp cut by the 30 October meeting.
EURUSD
Technical Analysis
Banks
Majority of UK firms see no material impact from US trade policy changes - BOE survey
Majority of UK firms see no material impact from US trade policy changes - BOE survey
The latest findings from the BOE decision maker panel survey - 5 June 2025
EUR/USD: Likely to test 1.1455 in the near term – UOB Group
EUR/USD: Likely to test 1.1455 in the near term – UOB Group
Recovery has gained momentum; Euro (EUR) could test 1.1455 against US Dollar (USD), but a sustained rise above this level is unlikely.
EURUSD
Technical Analysis
Banks
US Dollar Index (DXY) remains depressed below 99.00 as recession fears return
US Dollar Index (DXY) remains depressed below 99.00 as recession fears return
The US Dollar Index (DXY) is trading practically flat on Thursday, consolidating losses after a bearish reversal on Wednesday, as downbeat Services and employment data, coupled with the ongoing tariffs uncertainty, revived fears of an upcoming recession.The US Institute of Supply Management’s Servic
DollarIndex
Currencies
NZD/USD appreciates to near 0.6050 despite a stable US Dollar, Initial Jobless Claims eyed
NZD/USD appreciates to near 0.6050 despite a stable US Dollar, Initial Jobless Claims eyed
NZD/USD extends its gains for the second successive day, trading around 0.6030 during the European hours on Thursday. The pair maintains its position near an eight-month high at 0.6055, recorded on June 3.
NZDUSD
Majors
Macroeconomics
NewZealand
UK May construction PMI 47.9 vs 47.2 expected
UK May construction PMI 47.9 vs 47.2 expected
Latest data released by S&P Global - 5 June 2025
Crude oil unbothered by the Saudi Arabia push for faster production increases
Crude oil unbothered by the Saudi Arabia push for faster production increases
The negative supply side news continue to have less and less of an impact on prices
Silver Price Forecast: XAG/USD remains positive, supported above $34.00
Silver Price Forecast: XAG/USD remains positive, supported above $34.00
Silver prices (XAG/USD) maintain their bullish structure intact, with bulls aiming for the $34.60-$34.80 resistance area, with downside attempts contained above the $34.00 support level.A US Dollar on its back foot is contributing to keeping the precious metal buoyed.
XAGUSD
Silver
Commodities
Metals
Italy April retail sales +0.7% vs +0.2% expected
Italy April retail sales +0.7% vs +0.2% expected
The latest data from ISTAT - 5 June 2025
Pound Sterling outperforms US Dollar as Trump tariffs strike US economic activity
Pound Sterling outperforms US Dollar as Trump tariffs strike US economic activity
The Pound Sterling (GBP) rises to near 1.3580 against the US Dollar (USD) during European trading hours on Thursday. The GBP/USD pair gains as the US Dollar struggles to gain ground after a sharp sell-off on Wednesday.
GBPUSD
BOE
Fed
Employment
SEO
GBP/JPY rises above 194.00 as Japan’s real wages falls in April
GBP/JPY rises above 194.00 as Japan’s real wages falls in April
GBP/JPY recovers its recent losses registered in the previous session, trading around 194.30 during the European hours on Thursday. The currency cross appreciates as the Japanese Yen (JPY) continues to struggle following the labor market data.
GBPJPY
Crosses
Macroeconomics
Japan
UnitedKingdom
EUR/GBP ticks down to near 0.8400 ahead of ECB’s monetary policy decision
EUR/GBP ticks down to near 0.8400 ahead of ECB’s monetary policy decision
The EUR/GBP pair trades slightly lower around 0.8410 during European trading hours on Thursday. The pair faces moderate selling pressure ahead of the European Central Bank’s (ECB) interest rate decision, which will be announced at 12:15 GMT.
EURGBP
ECB
BOE
Eurozone
Inflation
EUR/USD tests daily highs above 1.1430 ahead of the ECB
EUR/USD tests daily highs above 1.1430 ahead of the ECB
EUR/USD retraced lost ground on Thursday´s European session, reaching intra-day highs right above 1.1430 as investors await the outcome of the European Central Bank’s (ECB) monetary policy meeting, due in a few hours.The ECB is widely expected to cut interest rates for the eighth consecutive time, a
EURUSD
ECB
Currencies
SEO
Germany May construction PMI 44.4 vs 45.1 prior
Germany May construction PMI 44.4 vs 45.1 prior
Latest data released by HCOB - 5 June 2025
WTI Price Forecast: Recovery halts at $63.00 amid fears of an Oil glut
WTI Price Forecast: Recovery halts at $63.00 amid fears of an Oil glut
Crude prices have been capped again at the $63.00 area, before dropping to levels right above $62.00 at the time of writing.
Oil
WTI
Energy
USD/CAD languishes near YTD low, seems vulnerable around 1.3670-1.3665 region
USD/CAD languishes near YTD low, seems vulnerable around 1.3670-1.3665 region
The USD/CAD pair extends its bearish consolidative price action heading into the European session on Thursday and currently trades around the 1.3670-1.3665 area, just above the lowest level since October 2024 touched the previous day.
USDCAD
TradeWar
BOC
Fed
Currencies
European indices little changed to kick start the new day
European indices little changed to kick start the new day
A more muted tone as we await the ECB policy decision later
Forex Today: ECB rate decision and US data to ramp up volatility
Forex Today: ECB rate decision and US data to ramp up volatility
Here is what you need to know on Thursday, June 5:
Majors
Macroeconomics
Currencies
Commodities
EconomicIndicator
ECB Press Conference: Lagarde speaks on policy outlook after lowering key rates by 25 bps
ECB Press Conference: Lagarde speaks on policy outlook after lowering key rates by 25 bps
Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to lower key rates by 25 basis points at the June policy meeting and responds to questions from the press.
ECB
EURUSD
SEO
CentralBanks
EUR/GBP holds steady below 0.8450 ahead of ECB rate decision
EUR/GBP holds steady below 0.8450 ahead of ECB rate decision
The EUR/GBP cross trades on a flat note near 0.8420 during the early European session on Thursday. Traders prefer to wait on the sidelines ahead of the European Central Bank (ECB) interest rate decision later on Thursday. 
EURGBP
Crosses
Macroeconomics
ECB
InterestRate
What are the main events for today?
What are the main events for today?
The highlights include the ECB Policy Announcement and the US Jobless Claims data
market overview
Eurostoxx futures -0.1% in early European trading
Eurostoxx futures -0.1% in early European trading
A more tentative mood after the gains yesterday
Crude Oil price today: WTI price bearish at European opening
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 $62.07 per barrel, down from Wednesday’s close at $62.16.
Oil
WTI
Commodities
German Factory Orders rise 0.6% MoM in April vs. -1% expected
German Factory Orders rise 0.6% MoM in April vs. -1% expected
Germany's Factory Orders unexpectedly rose in April, suggesting that the country’s manufacturing sector sustained its recovery, according to the official data published by the Federal Statistics Office on Thursday.
Germany
IndustrialProduction
EconomicIndicator
EURUSD
Manufacturing
GBP/USD remains below 1.3550 as US Dollar recovers ground, signals a technical correction
GBP/USD remains below 1.3550 as US Dollar recovers ground, signals a technical correction
GBP/USD retraces its recent gains from the previous session, trading around 1.3550 during the Asian hours on Thursday. The pair depreciates as the US Dollar (USD) gains ground amid a technical correction.
GBPUSD
Majors
Macroeconomics
UnitedKingdom