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Canada Unemployment Rate rises to 6.9% in April vs. 6.8% expected
The Unemployment Rate in Canada edged higher to 6.9% in April from 6.7% in March, Statistics Canada reported on Friday. This reading came in above the market expectation of 6.8%.
Canada
USDCAD
Employment
EconomicIndicator
Macroeconomics
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Fed's Williams: Price stability is foundational for Fed
New York Federal Reserve Bank (Fed) President John Williams said on Friday that price stability is foundational for the Fed, per Reuters.
Fed
CentralBanks
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Fed's Williams: Expect growth to slow considerably, inflation and unemployment higher
Comments from the New York Fed President Williams
USD
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Trump says 'many trade deals in the hopper'
Touts that they're all great ones
USD
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Hassett: The UK trade deal is the framework for future deals
Comments from the White House economic advisor
GBP
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Fed's Williams: Now is a time of great uncertainty and change
Comments from the New York Fed President Williams
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Canada April employment change +7.4K versus +2.5K expected
The Canada jobs report for April 2025
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It's Canadian jobs day. What to watch for
Canadian employment data is due at the bottom of the hour
CAD
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ForexLive European FX news wrap: Trump floats cutting China tariffs to 80%
Forex news from the European morning session on May 9, 2025
Session wrap
Wrap Europe
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Gold price with ups and downs, focus on upcoming trade talks – Commerzbank
The price of gold fell below $3,300 per troy ounce overnight, after it rose above the $3,400 mark on Tuesday, marking its highest level since reaching a record high two weeks earlier, Commerzbank's commodity analyst Carsten Fritsch notes.
XAUUSD
Metals
Gold
Commodities
Banks
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US Trade Adviser Navarro: It will be an interesting weekend for the markets
Navarro speaking to Bloomberg TV
USD
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EUR entering NA session with modest gain – Scotiabank
The Euro (EUR) is entering Friday’s NA session with a modest 0.2% gain, still trading below 1.13 but seeing a solid recovery from a short lived decline to 1.12, Scotiabank's Chief FX Strategist Shaun Osborne notes.
EURUSD
Banks
Technical Analysis
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USD/CNH: Downward momentum is slowing rapidly – UOB Group
Room for US Dollar (USD) to continue to rise against the Chinese Yuan (CNH), but it does not appear to have enough momentum to break above 7.2600.
Banks
Technical Analysis
USDCNH
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Fed's Kugler: Makes sense to maintain moderately restrictive policy rate
Federal Reserve (Fed) Governor Adriana Kugler told Bloomber TV on Friday that the policy rate is currently moderately restrictive and added that it makes sense to maintain it.
Fed
CentralBanks
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China also imported large quantities of crude oil in April – Commerzbank
Chinese refineries continued to import large quantities of crude oil in April, Commerzbank's commodity analyst Carsten Fritsch notes.
Oil
Energy
Banks
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CAD is flat and consolidating post-Fed losses – Scotiabank
The Canadian Dollar (CAD) is entering Friday’s NA session trading flat vs. the US Dollar (USD) as it consolidates this week’s post-Fed losses.
Technical Analysis
Canada
BOC
USDCAD
Banks
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Kazakhstan continues to produce too much oil – Commerzbank
Kazakhstan continues to produce significantly more oil than agreed and apparently has no plans to reduce production in May, Commerzbank's commodity analyst Carsten Fritsch notes.
Oil
Energy
Banks
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USD soft, fading portion of post-Fed gains into US/China trade talks – Scotiabank
G10 FX performance is varied heading into Friday’s NA session as most currencies claw back a portion of this week’s post-Fed losses against the US Dollar (USD).
Technical Analysis
Fed
Banks
DollarIndex
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US Pres. Trump: 80% tariff on China seems right
In a post published on Truth Social on Friday, United States (US) President Donald Trump said 80% tariffs on Chinese goods "seems right."
China
UnitedStates
Politics
Macroeconomics
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AUD/USD rises above 0.6400 as US Dollar falls back, US-China trade talks eyed
The AUD/USD pair recovers initial losses and rises above the key level of 0.6400 during European trading hours on Friday.
China
Fed
UnitedStates
UnitedKingdom
AUDUSD
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USD/JPY might not be able to break above 146.55 – UOB Group
Scope for US Dollar (USD) to rise further vs Japanese Yen (JPY); overbought conditions suggest any advance might not be able to break above 146.55.
Technical Analysis
USDJPY
Banks
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Trump says that 80% tariffs on China "seems right"
Before adding that it'll be "up to Bessent" to decide
market overview
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Trump: 80% tariff on China seems right
This is in contrast to the earlier reports of an easing to 50%
USD
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US Dollar Index pressured with markets bracing for trade talks over the weekend
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is fully reversing course this Friday ahead of the United States (US) trade talks with China in Switzerland over the weekend.
TradeWar
UnitedStates
SEO
Macroeconomics
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More from Fed's Kugler: Our policy right now is moderately restrictive
Comments from Fed policymaker, Adriana Kugler
USD
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Mexican Peso breaks support in anticipation of US-China trade talks
The Mexican Peso (MXN) is extending gains against the US Dollar (USD) on Friday, as markets digest a notable decline in Mexico's consumer confidence, a series of Federal Reserve speeches, and look ahead to the upcoming US-China trade discussions in Switzerland.
Mexico
Currencies
USDMXN
Banxico
Fundamental Analysis
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Trump says that China should open up its market to the US
The US president is up early again today
Politics
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USD/JPY: Rebound meets first resistance – OCBC
US Dollar (USD) short covering gathered pace vs. safe haven proxies. USDJPY was last at 145.30 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Technical Analysis
USDJPY
Banks
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Investor Alert for Monday: U.S.-China Tariff Talks Start This Weekend. Monday Volatility?
Markets brace for U.S.-China trade talks with hopes of tariff reductions, but limited progress may disappoint investors. Potential negative outcomes could trigger market pullback or sustain risk sentiment. Stay tuned for market response early next week.
Politics
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Gold rally stalls below $3500 mark – Société Générale
Gold faces consolidation after stalling near $3500, with a lower high at $3435 and weakening momentum suggesting a temporary pause in the uptrend, Société Générale's FX analysts note.
Technical Analysis
XAUUSD
Metals
Gold
Banks
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USD/CAD Price Forecast: Strengthens after Falling wedge breakout
The USD/CAD pair holds onto gains made on Thursday around 1.3920 during European trading hours on Friday. The Loonie pair performs strongly as the US Dollar (USD) strengthens on multiple tailwinds.
SupportResistance
China
BOC
Fed
USDCAD
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Is this the playbook for US trading later before the weekend?
A look at what the headlines from yesterday might entail for markets ahead of US-China talks in the next two days
market overview
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NZD/USD might not be able to break clearly below 0.5870 – UOB Group
New Zealand Dollar (NZD) could weaken further against US Dollar (USD), but it might not be able to break clearly below 0.5870. In the longer run, bias for NZD is tilted to the downside toward 0.5870, potentially reaching 0.5835, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
Banks
NZDUSD
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Fed's Kugler: The US labour market is stable, close to maximum employment
Comments from Fed's policymaker, Adriana Kugler
USD
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DXY: Short squeeze on the cards – OCBC
US Dollar (USD) short squeeze gained traction and broadened against more currencies from safe haven to procyclical FX. MYR, Gold, JPY and THB led losses.
Technical Analysis
Banks
DollarIndex
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Fed's Barkin: Watching consumers most closely
Richmond Federal Reserve Bank President Thomas Barkin said on Wednesday that they are watching the consumer activity most closely because that's the biggest part of the economy, per Reuters.
Fed
CentralBanks
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AUD/USD can drop below 0.6370 – UOB Group
Australian Dollar (AUD) could drop below 0.6370 against the US Dollar (USD) but might not be able to maintain a foothold below this level. In the longer run, AUD must break and hold below 0.6370 before a move to 0.6330 can be expected, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
Banks
AUDUSD
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CNY: Hardly any signs of slowdown in exports – Commerzbank
In April, Chinese exports rose by 8.1% year-on-year to reach USD 315.7 billion, marking the highest level ever recorded for the month of April, Commerzbank's FX analyst Volkmar Baur notes.
China
USDCNY
PBOC
USDCNH
Banks
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GBP/USD: Likely to decline further – UOB Group
Pound Sterling (GBP) is likely to decline further, potentially testing the support at 1.3190. In the longer run, scope for GBP to weaken to 1.3150; currently it is unclear whether GBP can break clearly below this level, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
Banks
GBPUSD
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Fed's Barkin: Tariffs to lead to higher inflation and lower growth in US and abroad
Comments from the Richmond Fed President
USD
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