Japan’s Finance Minister Shunichi Kato said on Wednesday that he will closely monitor bond market situations as he is concerned about a recent spike yields in Japan.
Bank of Japan Governor Kazuo Ueda said on Wednesday that many tariff negotiations, including those between the United States and Japan, are still ongoing, so the outlook remains uncertain. Ueda further states that the central bank will closely monitor the incoming data.
Federal Reserve Bank of New York President John Williams said on Wednesday that he wants to avoid inflation becoming highly persistent because that could become permanent.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $60.90 during the Asian trading hours on Wednesday. The WTI price edges lower amid supply concerns after Iranian and US delegations made progress in their nuclear talks.
GBP/USD pared recent gains on Tuesday, snapping a six-day win streak and knocking price action away from the 1.3600 handle after the pair tapped fresh multi-year highs this week.
The USD/CAD pair posts modest gains near 1.3805 during the early Asian session on Wednesday. The US Dollar (USD) strengthens against the Canadian Dollar (CAD) after the stronger US Consumer Confidence data. The attention is shifted to the FOMC Minutes, which are due later on Wednesday.
NZD/JPY extended its rally for the third consecutive day on Tuesday, rose a slim 0.17%, but failed to clear key resistance seen at the Kijun-Sen at 85.92 to challenge the 86.00 figure. As Wednesday’s Asian session begins, the cross-pair trades at 85.81 virtually unchanged.
US Treasury yields fall across the whole curve due to concerns over an increase in global government debt supply, which sent yields rising last week, and retraced somewhat on expectations that Japan could begin issuing short-term debt.
Reserve Bank of New Zealand’s (RBNZ) acting Governor Christian Hawkesby presents the prepared remarks on the policy statement and responds to media questions at the press conference after the May monetary policy announcement.
Silver price falls by 0.70% on Tuesday, yet it has trimmed some of its earlier losses that pushed the grey metal below $33.00, hitting a two-day low of $32.77. At the time of writing, XAG/USD trades at $33.29.
The Australian Dollar (AUD) strengthens against the Japanese Yen (JPY), extending modest gains for the third consecutive day. At the time of writing, the AUD/JPY cross is pushing higher to trade near 93.00 during the late American sessions on Tuesday, up nearly 1% on the day.
The EUR/USD pair retreats below 1.1400 for the second consecutive day, driven by a recovery in the US Dollar (USD) following an upbeat Consumer Confidence report. Additionally, soft inflation data in France undermined the shared currency, which trades on Tuesday at 1.1335, down over 0.40%.
The US Dollar (USD) regained composure and managed to leave behind two daily retracements in a row on turnaround Tuesday, as US investors returned to their desks following Monday’s Memorial Day holiday.
The Canadian Dollar (CAD) lost ground against the US Dollar (USD) on Tuesday, snapping a six-session winning streak for the Loonie and pushing USD/CAD back above 1.3750 as trade headlines dominate the market cycle.
The Australian Dollar (AUD) is facing renewed pressure against the US Dollar (USD) on Tuesday as the Greenback rebounds across the board following mixed US economic data and a resurgence in market liquidity.
The US Dollar Index (DXY), which tracks the value of the US Dollar (USD), is pushing upward as market participants respond to fading trade tensions. Markets are drawing fresh optimism from President Trump's decision to delay the implementation of 50% tariffs on EU imports.
Bundesbank President Joachim Nagel struck a measured tone on the path ahead for interest rates, saying it is too soon to decide on a further cut next month, referring to the European Central Bank's (ECB) upcoming policy decision.
In an interview with Germany's Frankfurter Allgemeine, Philip Lane, the chief economist of the European Central Bank, indicated that although the majority of factors suggested a continued decline in euro area inflation, there were also concerns, such as the possibility of unsuccessful EU-US trade ne
The New Zealand Dollar (NZD) is losing ground against the US Dollar (USD) on Tuesday, slipping back after a failed attempt to break above the key 0.6000 level.
Gold prices posted losses of nearly 2%, falling below the $3,300 figure, as market participants cheered US President Donald Trump's decision to delay tariffs on European Union goods.
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