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ECB’s Schnabel: Disinflation is on track, but new shocks are posing new challenges
European Central Bank (ECB) board member Isabel Schnabel said on Tuesday, “disinflation is on track, but new shocks are posing new challenges.”
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BoJ: Some members said JGB market functionality improving as a trend due to BoJ's taper
The BoJ released briefing material used at its meeting with bond market participants
JPY
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ECB's Schnabel: Disinflation is on track, but new shocks are posing new challenges
Comments from the ECB policymaker, Isabel Schnabel on her X account
EUR
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What are the main events for today?
The Canadian CPI and more Fedspeak are the main highlights
market overview
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USD/CAD flat lines around mid-1.3900s; looks to Canadian inflation data for fresh impetus
The USD/CAD pair extends its sideways consolidative price move heading into the European session on Tuesday and currently trades around mid-1.3900s, nearly unchanged for the day. Moreover, the mixed fundamental backdrop warrants some caution before placing aggressive directional bets.
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Fed
Inflation
BOC
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Crude Oil price today: WTI price bearish at European opening
West Texas Intermediate (WTI) Oil price falls on Tuesday, early in the European session. WTI trades at $61.85 per barrel, down from Monday’s close at $62.09.
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Germany April PPI -0.6% vs -0.3% m/m expected
Latest data released by Destatis - 20 May 2025
EUR
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EUR/JPY weakens below 163.00 on BoJ rate hike bets
The EUR/JPY cross trades in negative territory around 162.70 during the early European session on Tuesday. The growing expectation that the Bank of Japan (BoJ) will raise interest rates again this year underpins the Japanese Yen (JPY) against the Euro (EUR).
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RBA Governor Bullock: Did discuss 25 bps or 50 bps cut
Further remarks by the RBA governor
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US Dollar Index (DXY) consolidates around 100.35 area, close to over one-week low
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, oscillates in a range around the 100.35 area through the Asian session on Tuesday and remains close to over a one-week low touched the previous day.
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RBA’s Bullock: This is the right cut for now, more adjustments are possible
Reserve Bank of Australia (RBA) Governor Michele Bullock is holding a press conference following the announcement of the May monetary policy decision on Tuesday.
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RBA Governor Bullock: Must now keep inflation down, well placed to do so
Remarks by RBA Governor, Michele Bullock
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EUR/USD Price Forecast: Tests descending channel’s upper boundary near 1.1250
EUR/USD remains steady after registering more than 0.50% gains in the previous session, trading around 1.1240 during the Asian hours on Tuesday. On the daily chart, technical analysis indicates a bearish bias is in play, as the pair continues to trade lower within a descending channel pattern.
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The AUD falls on more dovish RBA forecasts
The reaction to the lower revision in growth and inflation forecasts is weighing on the Aussie dollar
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AUD/JPY attracts some sellers to near 93.00, eyes on RBA Press Conference
The AUD/JPY cross faces some selling pressure to near 93.00 during the Asian trading hours on Tuesday. The Australian Dollar (AUD) edges lower against the Japanese Yen (JPY) after the Reserve Bank of Australia's (RBA) interest rate decision.
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AUD/NZD declines to one-week low, around mid-1.0800s after RBA’s 25 bps rate cut decision
The AUD/NZD cross attracts some sellers in reaction to the Reserve Bank of Australia's (RBA) policy decision and drops to over a one-week low, around the 1.0860-1.0855 area in the last hour.
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India Gold price today: Gold falls, according to FXStreet data
Gold prices fell in India on Tuesday, according to data compiled by FXStreet.
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India
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RBA lowers the cash rate target to 3.85% vs 4.10% prior as widely expected
The Reserve Bank of Australia Monetary Policy Decision for May 2025
AUD
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Silver Price Forecast: XAG/USD falls toward $32.00 amid potential Russia-Ukraine ceasefire
Silver price (XAG/USD) continues its decline for the third consecutive session, trading near $32.20 per troy ounce during Tuesday’s Asian session. The metal’s weakness comes as optimism over a potential ceasefire between Russia and Ukraine reduces demand for safe-haven assets.
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Heads up: RBA monetary policy decision coming at the bottom of the hour
A 25 bps cut to 3.85% is widely expected
AUD
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Gold price bounces off daily low on broadly weaker USD, keeps the red amid upbeat market mood
Gold price (XAU/USD) finds some support ahead of the $3,200 round-figure mark and trims a part of its modest intraday losses, though the upside potential seems limited.
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SEO
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ForexLive Asia-Pacific FX news wrap: USD/JPY swings. PBoC cuts. RBA next.
Forex news for Asian trading on Tuesday, May 20, 2025
Session wrap
Wrap Asia
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GBP/USD maintains position above 1.3350 as US Dollar weakens on economic concerns
GBP/USD continues its upward momentum for the second consecutive session, hovering near 1.3360 during Asian trading hours on Tuesday. The Pound Sterling (GBP) is strengthening as the US Dollar (USD) softens in response to Moody’s Ratings downgrading the US credit rating from Aaa to Aa1.
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UnitedKingdom
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US and Japan are expected to hold talks on Friday, May 23
US Treasury Secretary Bessent not expected to attend Japan, US talks on Friday
JPY
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USD/INR strengthens on bets for more RBI rate cuts
The Indian Rupee (INR) weakens on Tuesday. Consumer inflation in India fell more than expected to a near six-year low in April, strengthening bets that the Reserve Bank of India (RBI) is due to extend its rate cutting cycle. This, in turn, undermines the Indian currency.
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India
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NZD/USD remains subdued near 0.5900 following PBoC rate cut
NZD/USD edges lower during Tuesday’s Asian session, trading around 0.5920 after climbing over 0.50% in the previous session. The pair remained under pressure following the People's Bank of China's (PBoC) latest interest rate decision.
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Macroeconomics
NewZealand
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Japanese Yen builds on steady intraday ascent; USD/JPY drops to nearly two-week low
The Japanese (JPY) attracts fresh buyers following an Asian session downtick on Tuesday, which, along with subdued US Dollar (USD) price action, drags the USD/JPY pair to a nearly two-week low, around the 144.60 area in the last hour.
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China's state planner approved 27 fixed asset investment projects in January - April
The National Development and Reform Commission of the People's Republic of China (NDRC) is China's state planner.
CNY
China Stock Market
China
CNH
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Australia's Opposition coalition splits as National Party pulls back
The Australian Dollar (AUD) is losing further ground across its major rivals, undermined by the latest political turmoil in Australia. However, traders remain cautious ahead of the Reserve Bank of Australia (RBA) policy announcement due later at 4.30 GMT.
AUDUSD
Australia
Politics
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Australian Dollar declines as RBA's Bullock signals further policy adjustments
The Australian Dollar (AUD) dips against the US Dollar (USD) on Tuesday, following a gain of over 0.50% in the previous session. The AUD/USD pair remains under pressure after the interest rate decisions from the Reserve Bank of Australia (RBA) and the People's Bank of China (PBoC).
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SEO
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Australia
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Australian politics - Opposition coalition splits. Nationals withdraw.
The split follows a big loss for the coalition in the recent election. The governing Labor Party was returned with an enhanced and sweeping mandate at their expense.
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South Korea, U.S. will resume tariff talks on Tuesday, aiming for July trade deal
This will be the second round of talks for the two
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Japan’s Kato hints at plans to speak with US Treasury Secretary Scott Bessent on FX this week
Japan’s Finance Minister Shunichi Kato said on Tuesday that he expects any talks with US Treasury Secretary Scott Bessent this week to be based on this understanding of foreign exchange.
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PBOC cuts Loan Prime Rates in May, as expected
The People’s Bank of China (PBOC), China's central bank, announced a cut in its Loan Prime Rates (LPRs) on Tuesday. The one-year LPR was cut from 3.1% to 3.00%, while the five-year LPR was cut from 3.60% to 3.50%.
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Gold Price Forecast: XAU/USD holds below $3,250 on modest US Dollar strength
The Gold price (XAU/USD) edges lower to around $3,230 during the early Asian session on Tuesday, pressured by a modest US Dollar (USD) rebound. However, the concerns over the US economic health after Moody's downgrades the US national credit rating might cap its downside.
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Japan finance minister Kato hints at plans to speak with Bessent on FX this week
USD/JPY back down again!
JPY
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PBOC sets USD/CNY reference rate at 7.1931 vs. 7.1916 previous
The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Tuesday at 7.1931 as compared to the previous day's fix of 7.1916 and 7.2112 Reuters estimate.
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Akazawa: Japan, U.S. conducted working-level talks on bilateral trade DC on Monday
Japan economy minister Akazawa
JPY
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