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JPY up modestly & outperforming G10 – Scotiabank
JPY up modestly & outperforming G10 – Scotiabank
Japanese Yen (JPY) is up a modest 0.2%, outperforming most of the G10 currencies in quiet trade, Scotiabank's Chief FX Strategist Shaun Osborne notes.
USDJPY
Banks
BOJ
Japan
Technical Analysis
EUR/GBP remains depressed below 0.8400 following dull Eurozone data
EUR/GBP remains depressed below 0.8400 following dull Eurozone data
The Euro is trading practically flat below the 0.8400 round level, unable to put a significant distance from the 0.8380 multi-week lows, as Eurozone data strengthens the case for further ECB easing in June.Unemployment data from Germany released earlier today revealed that the jobless rate remained
EURGBP
Currencies
Crosses
Mexican Peso stalls close to YTD highs with FOMC Minutes and policy divergence back in focus
Mexican Peso stalls close to YTD highs with FOMC Minutes and policy divergence back in focus
The Mexican Peso (MXN) is holding broadly steady against the US Dollar (USD) on Wednesday, remaining close to year-to-date highs, as investors await the release of the Federal Reserve’s (Fed) May Federal Reserve Open Markets Committee (FOMC) meeting minutes.
USDMXN
Fundamental Analysis
Technical Analysis
Banxico
SEO
EUR up marginally as ECB inflation expectations climb – Scotiabank
EUR up marginally as ECB inflation expectations climb – Scotiabank
Euro (EUR) is entering Wednesday’s NA session with a marginal 0.1% gain vs. the US Dollar (USD), a mid-performer among the G10 in generally quiet trade, Scotiabank's Chief FX Strategist Shaun Osborne notes, Scotiabank's Chief FX Strategist Shaun Osborne notes.
EURUSD
Banks
Technical Analysis
US MBA mortgage applications w.e. 23 May -1.2% vs -5.1% prior
US MBA mortgage applications w.e. 23 May -1.2% vs -5.1% prior
Latest data from the Mortgage Bankers Association for the week ending 23 May 2025
Gold recovers while investors remain confident over swift progress in EU-US trade talks
Gold recovers while investors remain confident over swift progress in EU-US trade talks
Gold price (XAU/USD) attracts bids and rises to near $3,320 during European trading hours on Wednesday, following an over 1% sell-off the previous day.
Gold
XAUUSD
Fed
UnitedStates
SEO
Euro’s role as reserve currency: a missed opportunity? – Commerzbank
Euro’s role as reserve currency: a missed opportunity? – Commerzbank
The dominance of the US Dollar (USD) is based on its use in cross-border transactions by third countries - i.e. its use as a so-called vehicle currency.
EURUSD
Banks
Currencies
DollarIndex
Politics
AUD/USD trims some losses but remains capped below the 0.6450 resistance area
AUD/USD trims some losses but remains capped below the 0.6450 resistance area
The Aussie Dollar is posting marginal gains on Wednesday following a 0.70% decline during the last two days.
AUDUSD
Currencies
Technical Analysis
Bitcoin is back at the key trendline. Another bounce or break?
Bitcoin is back at the key trendline. Another bounce or break?
Bitcoin continues to rise as growth expectations remain positive and the soft data improves
USD/CAD extends gains above 1.3800 with all eyes on the FOMC minutes
USD/CAD extends gains above 1.3800 with all eyes on the FOMC minutes
The US Dollar is showing a moderate advance on Wednesday, extending gains after Tuesday’s rebound.
USDCAD
Currencies
Fed
Silver price today: Silver rises, according to FXStreet data
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data.
Silver
Commodities
Metals
EURUSD eyes a key support zone ahead of key data for the USD next week
EURUSD eyes a key support zone ahead of key data for the USD next week
The EURUSD pair is approaching again a key support zone ahead of key US economic data in the next couple of weeks
EUR
USD
AUD/JPY falls below 93.00, downside seems limited as Japan considers debt issuance changes
AUD/JPY falls below 93.00, downside seems limited as Japan considers debt issuance changes
AUD/JPY halts its three-day winning streak, trading around 92.90 during the European hours on Wednesday.
AUDJPY
Crosses
Macroeconomics
Japan
Australia
USD/JPY: Near term rebound; sell rallies preferred – OCBC
USD/JPY: Near term rebound; sell rallies preferred – OCBC
USD/JPY rebounded amid chatters of USD short covering, month-end flows. Pair was last at 144.03 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
USDJPY
Banks
Technical Analysis
NZD: Hawkish RBNZ cut lifts Kiwi dollar prospects – ING
NZD: Hawkish RBNZ cut lifts Kiwi dollar prospects – ING
The Reserve Bank of New Zealand cut rates by 25bp to 3.25% as widely expected this morning, although the overall message was more hawkish than expected, ING's FX analyst Francesco Pesole notes.
NZDUSD
Technical Analysis
Banks
RBNZ
DXY: FOMC minutes, core PCE this week – OCBC
DXY: FOMC minutes, core PCE this week – OCBC
US Dollar (USD) rebounded from lower grounds, owing to upside surprise from US consumer confidence and progress with EU-US trade talks. DXY was last at 99.56 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
DollarIndex
Banks
Technical Analysis
Fed
USD: Data and Trump help the dollar – ING
USD: Data and Trump help the dollar – ING
Yesterday, we noted that the dollar needed some positive data surprises to regain firmer footing, and May’s consumer confidence figures delivered.
DollarIndex
Banks
Technical Analysis
Fed
European Gas rally pauses amid Norwegian outages – ING
European Gas rally pauses amid Norwegian outages – ING
The rally in European natural gas took a breather yesterday, with the Title Transfer Facility (TTF) settling 0.66% lower on the day, ING's commodity experts Ewa Manthey and Warren Patterson note.
Gas
Europe
Energy
Banks
NZD/USD recovery loses steam at 0.5980
NZD/USD recovery loses steam at 0.5980
The New Zealand Dollar is paring some losses on Wednesday after having lost more than 1% on Tuesday. A hawkish RBNZ statement has provided some support to the Kiwi, but the overall USD strength is limiting upside attempts.The bank trimmed rates by 0.25% earlier today, to 3.25% as widely expected.
NZDUSD
RBNZ
Currencies
SEK softens despite EU optimism – ING
SEK softens despite EU optimism – ING
The Swedish krona has started the week on the softer side against the Euro, ING's FX analyst Francesco Pesole notes
Banks
EURSEK
Riksbank
EUR/USD: Rising wedge on the charts – OCBC
EUR/USD: Rising wedge on the charts – OCBC
Euro (EUR) fell on softer than expected French CPI, signs of progress on EU-US trade talks and broad US Dollar (USD) short covering. Pair was last at 1.1321, OCBC's FX analysts Frances Cheung and Christopher Wong note.
EURUSD
Technical Analysis
Banks
EUR/USD: Expected to consolidate between 1.1305 and 1.1375 – UOB Group
EUR/USD: Expected to consolidate between 1.1305 and 1.1375 – UOB Group
Euro (EUR) is expected to consolidate between 1.1305 and 1.1375 against US Dollar (USD). In the longer run, upward momentum has mostly dissipated; EUR is likely to trade in a 1.1255/1.1420 range for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
EURUSD
Banks
Oil: Sanction risks grow – ING
Oil: Sanction risks grow – ING
Crude oil prices came under pressure yesterday, with USD strength providing some headwinds for the market, ING's commodity experts Ewa Manthey and Warren Patterson note.
Oil
Banks
Commodities
Energy
WTI
EUR: 1.13 remains the anchor – ING
EUR: 1.13 remains the anchor – ING
The euro has held up better than most G10 currencies, helped by positive headlines about EU-US trade negotiations, ING's FX analyst Francesco Pesole notes.
EURUSD
Banks
Technical Analysis
US Dollar Index steadies near 99.50 ahead of FOMC Meeting Minutes
US Dollar Index steadies near 99.50 ahead of FOMC Meeting Minutes
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is steadying after registering more than 0.50% gains in the previous session. The DXY is trading around 99.60 during the European hours on Wednesday.
DollarIndex
Majors
Macroeconomics
Fed
UnitedStates
EUR/USD hesitates above 1.1300 with all eyes on the FOMC Minutes
EUR/USD hesitates above 1.1300 with all eyes on the FOMC Minutes
EUR/USD has regained lost ground during Wednesday's European session.
EURUSD
Technical Analysis
SEO
Currencies
GBP/JPY Price Forecast: Sees more upside above 196.50
GBP/JPY Price Forecast: Sees more upside above 196.50
The GBP/JPY pair corrects to near 194.50 during European trading hours on Wednesday after refreshing an almost two-week high around 195.60 the previous day. The pair faces selling pressure as the Pound Sterling (GBP) underperforms after a strong run-up in the past few trading days.
GBPJPY
BOJ
BOE
UnitedKingdom
Japan
WTI holds gains above $61.00 as US bars Chevron from exporting Venezuelan Oil
WTI holds gains above $61.00 as US bars Chevron from exporting Venezuelan Oil
West Texas Intermediate (WTI) Oil price edges higher after registering losses in the previous session, trading around $61.10 per barrel during the European hours on Wednesday.
Oil
WTI
Macroeconomics
Commodities
Majors
ECB survey: Eurozone Consumer Inflation Expectations stretch to 3.1% over next 12 months in April
ECB survey: Eurozone Consumer Inflation Expectations stretch to 3.1% over next 12 months in April
The latest monthly Consumer Expectations Survey by the European Central Bank showed on Wednesday that Eurozone inflation is likely to trend higher for the year ahead in April.
Inflation
Eurozone
EconomicIndicator
EURUSD
Germany May unemployment change 34k vs 10k expected
Germany May unemployment change 34k vs 10k expected
Latest data released by the Federal Employment Agency - 28 May 2025
Pound Sterling extends losses against US Dollar as trade concerns ease
Pound Sterling extends losses against US Dollar as trade concerns ease
The Pound Sterling (GBP) extends its correction to near 1.3460 against the US Dollar (USD) during European trading hours on Wednesday.
GBPUSD
BOE
Fed
DollarIndex
SEO
Forex Today: US Dollar extends recovery ahead of FOMC Minutes
Forex Today: US Dollar extends recovery ahead of FOMC Minutes
Here is what you need to know on Wednesday, May 28:
Majors
Macroeconomics
Currencies
EconomicIndicator
Commodities
Silver Price Forecast: XAG/USD rebound stalls above $33.00, keeps moving in range
Silver Price Forecast: XAG/USD rebound stalls above $33.00, keeps moving in range
Silver prices (XAG/USD) are posting moderate losses on Wednesday, weighed by the upbeat market sentiment, which is undermining demand for safe assets, and a firmer US Dollar.The Greenback is trading higher across the board, on the back of easing trade tensions, after Trump's decision to delay tariff
Silver
XAGUSD
DollarIndex
Commodities
European indices open lightly changed to start the day
European indices open lightly changed to start the day
A more tentative mood as we get things going on the session
EUR/GBP holds below 0.8400 ahead of German employment data
EUR/GBP holds below 0.8400 ahead of German employment data
The EUR/GBP cross trades with mild gains around 0.8390 during the early European session on Wednesday. The Euro (EUR) strengthens against the Pound Sterling (GBP) amid the de-escalation of trade tensions between the European Union (EU) and the United States (US).
EURGBP
Crosses
Macroeconomics
FX option expiries for May 28 NY cut
FX option expiries for May 28 NY cut
FX option expiries for May 28 NY cut at 10:00 Eastern Time vi a DTCC can be found below.
Options
Currencies
France Q1 final GDP +0.1% vs +0.1% q/q prelim
France Q1 final GDP +0.1% vs +0.1% q/q prelim
Latest data released by INSEE - 28 May 2025
Eurostoxx futures -0.3% in early European trading
Eurostoxx futures -0.3% in early European trading
A more tepid tone after the slight advance yesterday