China’s NBS: Economy grew steadily in face of pressure
China’s NBS: Economy grew steadily in face of pressure
Following the publication of the high-impact China’s April activity data, the National Bureau of Statistics (NBS) expressed its outlook on the economy during its press conference on Monday.
China
RetailSales
EconomicIndicator
AUDUSD
GBP/USD holds gains around 1.3300 as US Dollar weakens following Moody’s downgrade
GBP/USD holds gains around 1.3300 as US Dollar weakens following Moody’s downgrade
The GBP/USD pair recovered from prior session losses, trading near the 1.3300 level during Asian session on Monday. The rebound is largely driven by renewed pressure on the US Dollar (USD) after Moody’s Investors Service downgraded the US credit rating by one notch, from Aaa to Aa1.
GBPUSD
Macroeconomics
Majors
UnitedKingdom
US Treasury Sec. Bessent warns of tariffs rates to ‘reciprocal’ level if no trade deal
US Treasury Sec. Bessent warns of tariffs rates to ‘reciprocal’ level if no trade deal
US Treasury Secretary Scott Bessent told CNN News on Sunday, President Donald “Trump has put them on notice that if you do not negotiate in good faith, you will ratchet back up to your April 2 level.”
UnitedStates
TradeWar
DollarIndex
WTI sticks to modest intraday losses around $61.70, moves little after mixed Chinese data
WTI sticks to modest intraday losses around $61.70, moves little after mixed Chinese data
West Texas Intermediate (WTI) US Crude Oil prices struggle to capitalize on Friday's move higher and attract fresh sellers at the start of a new week.
Oil
Commodities
Iran
China
WTI
Lagarde speech: US Dollar weakened due to the uncertainty and loss of confidence in US policies
Lagarde speech: US Dollar weakened due to the uncertainty and loss of confidence in US policies
European Central Bank (ECB) President Christine Lagarde spoke in an interview with French media, La Tribune Dimanche, published on Saturday.
CentralBanks
ECB
EURUSD
China’s April Retail Sales grow 5.1%, Industrial Production beats with 6.1%
China’s April Retail Sales grow 5.1%, Industrial Production beats with 6.1%
China’s April Retail Sales rose 5.1% year-over-year (YoY) vs. 5.5% expected and 5.9% in March, the latest data released by the National Bureau of Statistics (NBS) showed Monday.
China
EconomicIndicator
AUDUSD
IndustrialProduction
RetailSales
China Industrial Output April 2025 +6.1% y/y (expected 5.5%, prior +7.7%)
China Industrial Output April 2025 +6.1% y/y (expected 5.5%, prior +7.7%)
April Retail Sales +5.1% y/y (expected +5.5%, prior +5.9%)
CNY
China Stock Market
China
CNH
Gold advances to near $3,250 due to safe-haven demand, US economic concerns
Gold advances to near $3,250 due to safe-haven demand, US economic concerns
Gold (XAU/USD) is recovering from recent losses, trading near $3,230 per troy ounce during Monday’s Asian session. The rebound is fueled by increased demand for safe-haven assets amid rising concerns over the US economic outlook and fiscal health.
Gold
XAUUSD
Macroeconomics
Commodities
Metals
BoJ’s Uchida: Will keep raising rates if economy, prices improve in line with our forecast
BoJ’s Uchida: Will keep raising rates if economy, prices improve in line with our forecast
Bank of Japan (BoJ) Deputy Governor Shinichi Uchida said on Tuesday that the central bank “will keep raising interest rates if economy, prices improve in line with our forecast.”
BOJ
CentralBanks
USDJPY
InterestRate
USD/JPY seems vulnerable near 145.00, over one-week low amid reviving safe-haven demand
USD/JPY seems vulnerable near 145.00, over one-week low amid reviving safe-haven demand
The USD/JPY pair attracts fresh sellers on Monday and drops to over a one-week trough, around the 144.80 area during the Asian session.
USDJPY
RiskAversion
BOJ
Fed
Currencies
China new home prices unchanged m/m in April, -4% y/y
China new home prices unchanged m/m in April, -4% y/y
China new home prices
China Stock Market
China
PBOC sets USD/CNY reference rate at 7.1916 vs. 7.1938 previous
PBOC sets USD/CNY reference rate at 7.1916 vs. 7.1938 previous
On Monday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1916 as compared to Friday's fix of 7.1938 and 7.2057 Reuters estimate.
USDCNY
PBOC
CentralBanks
Currencies
EUR/USD rises to near 1.1200, recovers as US Dollar weakens on fiscal concerns
EUR/USD rises to near 1.1200, recovers as US Dollar weakens on fiscal concerns
EUR/USD rebounds from previous session losses, trading near 1.1190 during Monday's Asian session.
EURUSD
Majors
Macroeconomics
Eurozone
AUD/USD holds steady above 0.6400 following Chinese data release
AUD/USD holds steady above 0.6400 following Chinese data release
The AUD/USD pair kicks off the new week on a subdued note and consolidates just above the 0.6400 round-figure mark during the Asian session.
AUDUSD
China
RBA
RiskAppetite
Currencies
Japan's PM Ishiba: Cannot accept US tariffs on autos
Japan's PM Ishiba: Cannot accept US tariffs on autos
Japanese Prime Minister (PM) Shigeru Ishiba said on Monday, speaking in the parliament this Monday, showed reluctance to accept US tariffs, including for cars, and said that seeking a win-win deal with the US is the key.
USDJPY
TradeWar
Japan
Currencies
Japan PM Ishiba says again can't accept US tariffs on autos
Japan PM Ishiba says again can't accept US tariffs on autos
Japan Prime Minister Ishiba speaking in parliament
ICYMI - Goldman Sachs: US tariffs may weaken the dollar as growth slows
ICYMI - Goldman Sachs: US tariffs may weaken the dollar as growth slows
Goldman Sachs Research expects the US dollar to weaken as trade tensions, policy uncertainty, and slowing GDP growth weigh on investor confidence and foreign demand for US assets.
New Zealand Q1 PPI inputs and outputs both higher q/q
New Zealand Q1 PPI inputs and outputs both higher q/q
New Zealand first quarter producer price index
Monday morning forex rates update - JPY and EUR higher
Monday morning forex rates update - JPY and EUR higher
Yen and euro opening stronger in early FX trade
JPY
EUR
Romanian centrist Presidential candidate ahead with 54.3% after 97% of votes counted
Romanian centrist Presidential candidate ahead with 54.3% after 97% of votes counted
A win for the pro-EU, pro-NATO candidate in Romania will be taken as a sign of better stability in Europe
Politics
Weekend: Bessent threatens tariff rates to return to ‘reciprocal’ levels if no trade deal
Weekend: Bessent threatens tariff rates to return to ‘reciprocal’ levels if no trade deal
"Reach a trade deal with the US, or else!" seems to be the message from US Treasury Secretary Bessent
Bonds
SPX
USD
Levels
Monday open levels, indicative FX prices, 19 May 2025
Monday open levels, indicative FX prices, 19 May 2025
As is usual for a Monday morning, market liquidity is very thin until it improves as more Asian centres come online ... prices are liable to swing around, so take care out there.
The weekend news hasn't been great for market confidence
The weekend news hasn't been great for market confidence
A few notable developments and comments
Stocks
UK PM Starmer expected to announce Brexit ­"reset" deal on Monday. (Is Brexin the word?)
UK PM Starmer expected to announce Brexit ­"reset" deal on Monday. (Is Brexin the word?)
UK media, The Times, with the news of the UK moving into closer alignment with the EU
Politics
GBP
EUR
Australian PM Albanese says he's "up for a deal" with Europe on free trade
Australian PM Albanese says he's "up for a deal" with Europe on free trade
Albanese will renew leader-level discussions for an Australia-European free trade deal with European Commission President Ursula von der Leyen in Rome.
Is President Trump Allowed to Accept an Airplane from Qatar?
Is President Trump Allowed to Accept an Airplane from Qatar?
President Trump accepting a $400 million jet from Qatar is sparking legal, ethical, and political debates, with concerns over violating the Foreign Emoluments Clause and national security risks. What do you think is going to happen? Please comment below.
Politics
AUD/NZD price analysis: Cross struggles to hold gains amid mixed signals
AUD/NZD price analysis: Cross struggles to hold gains amid mixed signals
The AUD/NZD pair is experiencing mild selling pressure on Friday, hovering near the 1.0900 zone as the market approaches the Asian session. Despite the minor losses, the broader technical outlook remains constructive, with several key indicators aligning to support the pair's upward trajectory.
Technical Analysis
Crosses
Currencies
AUDNZD
Australia
AUD/USD steadies as traders await RBA decision
AUD/USD steadies as traders await RBA decision
The AUD/USD pair is trading around the 0.6400 level during European trading hours on Friday, reflecting a broadly neutral tone as traders await the Reserve Bank of Australia (RBA) interest rate decision next week.
AUDUSD
Majors
Macroeconomics
RBA
Technical Analysis
Silver Price Forecast: XAG/USD slips as US yields rebound, hovers below $32.50
Silver Price Forecast: XAG/USD slips as US yields rebound, hovers below $32.50
Silver prices edged lower on Friday, with losses of over 1%, set to end the week on a negative note amid rising US Treasury yields, which staged a comeback late during the North American session. XAG/USD trades at $32.26 after hitting a daily peak of $32.68 at the time of writing.
Technical Analysis
XAGUSD
Silver
Metals
Moody's downgrades US debt to AA1, citing rising interest costs and unsustainable debt growth
Moody's downgrades US debt to AA1, citing rising interest costs and unsustainable debt growth
Moody's Ratings agency downgraded the US's sovereign debt credit rating after the market close on Friday. According to Moody's, the US is facing rising debt funding costs that far exceed those of similar government debt loads.
UnitedStates
Credit
RatingAgencies
Politics
NZD/JPY price analysis: Cross struggles to maintain upward momentum
NZD/JPY price analysis: Cross struggles to maintain upward momentum
The NZD/JPY pair is attempting to hold on to modest gains as it trades near the 85.70 zone ahead of the Asian session on Friday.
Crosses
Currencies
NZDJPY
Technical Analysis
Forexlive Americas FX news wrap: Hot UMich inflation expectations cool Fed rate cut talk
Forexlive Americas FX news wrap: Hot UMich inflation expectations cool Fed rate cut talk
Forex news for North American trading on May 16, 2025
Session wrap
Wrap Nth America