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USD little changed as markets await NFP data – Scotiabank
USD little changed as markets await NFP data – Scotiabank
Markets are trading in relatively subdued fashion, leaving the USD soft overall but little changed on the session and holding near the past week’s low, Scotiabank's Chief FX Strategist Shaun Osborne notes.
DollarIndex
Banks
Technical Analysis
Fed
BOC leaves the policy rate at 2.75% for the second time – BBH
BOC leaves the policy rate at 2.75% for the second time – BBH
USD/CAD is breaking lower. The downward shift in US rate expectations outweighed the Bank of Canada (BOC) slightly dovish hold, BBH FX analysts report.
Banks
BOC
USDCAD
Technical Analysis
Gold Price Forecast: XAU/USD refreshes four-week high as Sino-US trade worries fuel safe-haven demand
Gold Price Forecast: XAU/USD refreshes four-week high as Sino-US trade worries fuel safe-haven demand
Gold price (XAU/USD) posts a fresh four-week high, advances to near $3,400 during European trading hours on Thursday.
Gold
XAUUSD
Fed
TradeWar
YieldCurve
China vice president Han Zheng says US-China relations are at 'critical juncture'
China vice president Han Zheng says US-China relations are at 'critical juncture'
Remarks by China vice president, Han Zheng, as he meets with the US delegation for high-level dialogue
Politics
USD/CNH: Any further decline is unlikely to break below 7.1600 – UOB Group
USD/CNH: Any further decline is unlikely to break below 7.1600 – UOB Group
US Dollar (USD) could continue to weaken against Chinese Yuan (CNH); any further decline is unlikely to break below 7.1600.
Banks
Technical Analysis
USDCNH
China’s services PMI edges up in May – BBH
China’s services PMI edges up in May – BBH
China private sector services activity picked-up in May, BBH FX analysts report.
China
Banks
PMI
Macroeconomics
USD/JPY: Likely to trade between 142.10 and 145.50 – UOB Group
USD/JPY: Likely to trade between 142.10 and 145.50 – UOB Group
There is scope for US Dollar (USD) to continue to weaken against Japanese Yen (JPY); the major support at 142.10 is unlikely to come under threat.
USDJPY
Banks
Technical Analysis
One last consecutive rate cut for the road by the ECB?
One last consecutive rate cut for the road by the ECB?
That looks to be the case for the monetary policy decision today
Limited inflation pressures allow BOJ to stay cautious – BBH
Limited inflation pressures allow BOJ to stay cautious – BBH
JPY is underperforming all major currencies, BBH FX analysts report.
BOJ
USDJPY
Banks
Japan
EUR/JPY recovery loses steam at 163.60 with all eyes on the ECB
EUR/JPY recovery loses steam at 163.60 with all eyes on the ECB
The Euro keeps trading on a moderate positive bias on Thursday, fuelled by a positive surprise on Eurozone services PMI data, but remains trading within previous days’ ranges, with investors awaiting the ECB’s monetary policy decision.The bank is widely expected to cut interest rates for the eighth
EURJPY
Currencies
ECB
BOJ
NZD/USD: Any advance is unlikely to threaten this week’s high, near 0.6055 – UOB Group
NZD/USD: Any advance is unlikely to threaten this week’s high, near 0.6055 – UOB Group
New Zealand Dollar (NZD) could edge higher against US Dollar (USD), but any advance is unlikely to threaten this week’s high, near 0.6055.
NZDUSD
Technical Analysis
Banks
BOE seen pausing June 19 – BBH
BOE seen pausing June 19 – BBH
GBP/USD is firm just under key resistance at 1.3600. UK inflation expectations were anchored in May, BBH FX analysts report.
Banks
BOE
GBPUSD
AUD/USD is close to testing 0.6540 – UOB Group
AUD/USD is close to testing 0.6540 – UOB Group
Australian Dollar (AUD) could first test 0.6515 against the US Dollar (USD) before the risk of a pullback increases. In the longer run, price action suggests AUD could continue to rise and test the significant resistance level at 0.6540, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
AUDUSD
Technical Analysis
Banks
ECB seen cutting rate to 2.00% – BBH
ECB seen cutting rate to 2.00% – BBH
The ECB is widely expected to cut the policy rate 25bps to 2.00% (8:15am New York, 1:15pm London), BBH FX analysts report.
ECB
CentralBanks
Banks
InterestRate
USD/JPY: Weak US data & JGB auction in focus – MUFG
USD/JPY: Weak US data & JGB auction in focus – MUFG
The US dollar has been consolidating at weaker levels overnight following yesterday’s sell-off triggered by weak US economic data releases. It has resulted in the dollar index falling back towards recent lows at just below the 99.000-level.
USDJPY
BOJ
NFP
UnitedStates
Fed
USD/JPY rises above 143.00 as Japanese Yen underperforms across the board
USD/JPY rises above 143.00 as Japanese Yen underperforms across the board
The USD/JPY pair is up 0.25% to near 143.10 during European trading hours on Thursday. The pair trades firmly as the Japanese Yen (JPY) underperforms across the board.
USDJPY
BOJ
UnitedStates
Japan
DollarIndex
GBP/USD: Unlikely to break clearly above 1.3600 – UOB Group
GBP/USD: Unlikely to break clearly above 1.3600 – UOB Group
A slight increase in upward momentum suggests an upside bias, but Pound Sterling (GBP) is unlikely to break clearly above 1.3600. In the longer run, GBP must first close above 1.3600 before a sustained advance can be expected, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Banks
Technical Analysis
GBPUSD
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