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GBP/JPY rebounds to near 193.50 as BoE Pill warns caution on interest rate cuts
GBP/JPY rebounds to near 193.50 as BoE Pill warns caution on interest rate cuts
The GBP/JPY pair attracts bids near 192.00 and flattens around 193.50 during North American trading hours on Tuesday. The cross bounces back as the Japanese Yen (JPY) loses strength after Tokyo announced the meeting with Washington this week for the third-round trade talks.
GBPJPY
BOE
Inflation
Japan
UnitedStates
The reaction to the Moody's downgrade couldn't have been worse
The reaction to the Moody's downgrade couldn't have been worse
Ignoring the problem isn't going to make it go away
Silver holds firm above $32.00 as the US Dollar softens, eyes on $33.00 breakout
Silver holds firm above $32.00 as the US Dollar softens, eyes on $33.00 breakout
Silver (XAG/USD) is trading higher around $32.60 on Tuesday, recovering from intraday lows near $32.13 as the metal regains traction after two straight days of losses.
Silver
XAGUSD
Metals
USD/CHF Price Forecast: At make or a break around 0.8340
USD/CHF Price Forecast: At make or a break around 0.8340
The USD/CHF pair flattens around 0.8340 during North American trading hours on Tuesday after clawing back initial losses. The Swiss Franc pair rebounds as the US Dollar Index (DXY) bounced back after attracting bids near the weekly low around 100.00.
USDCHF
SNB
PMI
DollarIndex
SupportResistance
USD/CAD holds steady despite Canada’s mixed CPI print
USD/CAD holds steady despite Canada’s mixed CPI print
USD/CAD is trading in a tight range in the early hours of the US session as markets react to Canada’s latest Consumer Price Index (CPI) data and shift focus to Wednesday’s US House of Representatives vote on President Donald Trump’s proposed tax bill.
USDCAD
CPI
Currencies
BOC
Technical Analysis
GBP flat against USD ahead of CPI Wednesday – Scotiabank
GBP flat against USD ahead of CPI Wednesday – Scotiabank
Pound Sterling (GBP) is also entering Tuesday’s NA session unchanged against the US Dollar (USD) and stuck within a flat channel at the upper end of its longer-term range, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Banks
GBPUSD
Technical Analysis
EUR steady despite continued dovishness from ECB – Scotiabank
EUR steady despite continued dovishness from ECB – Scotiabank
Euro (EUR) is entering Tuesday’s NA session largely unchanged vs. the USD while trading with modest support over the past week or so, ignoring continued dovish messaging from key policymakers at the ECB, Scotiabank's Chief FX Strategist Shaun Osborne notes.
EURUSD
Banks
Technical Analysis
Correction: About the Scotiabank CAD market commentary
Correction: About the Scotiabank CAD market commentary
The Canadian Dollar (CAD) continues to pivot around the mid-1.39 point as investors await signs on how US/Canada trade relations are going to evolve and the impact that will have on Canada’s domestic prospects, Scotiabank's Chief FX Strategist Shaun Osborne notes.
USDCAD
Banks
Technical Analysis
Canada
BOC
Australia: A cut and a dovish surprise – Standard Chartered
Australia: A cut and a dovish surprise – Standard Chartered
The Reserve Bank of Australia (RBA) cut the cash rate by 25bps to 3.85%, as we had expected. The policy statement and Governor Bullock’s subsequent press conference both screened as dovish.
RBA
Banks
Australia
InterestRate
AUDUSD
Canada April CPI +1.7% y/y vs +1.6% expected
Canada April CPI +1.7% y/y vs +1.6% expected
Canadian April 2025 consumer price index data
USD edges lower, broader sentiment softens – Scotiabank
USD edges lower, broader sentiment softens – Scotiabank
The US Dollar (USD) is trading marginally softer on the session. Trade is relatively quiet on the face of it, with the North American holiday schedule (Memorial Day next Monday) after Canada’s day off yesterday perhaps affecting participation, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Banks
Technical Analysis
DollarIndex
Canadian CPI kicks off the agenda
Canadian CPI kicks off the agenda
Canada returns from a long weekend
AUD/USD retreats as RBA delivers expected rate cut, signals limited easing ahead
AUD/USD retreats as RBA delivers expected rate cut, signals limited easing ahead
The Australian Dollar (AUD) inches lower to 0.6415 against the US Dollar (USD) on Tuesday, attempting to stabilize near the previous day's low.
AUDUSD
InterestRate
RBA
US Dollar ticks lower with investors sharing Moody's concerns
US Dollar ticks lower with investors sharing Moody's concerns
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is trading lower again after investors share their concerns with the reservations Moody's made during its US credit downgrade.
DollarIndex
Macroeconomics
UnitedStates
SEO
Mexican Peso holds gains against the Greenback after hitting fresh YTD high
Mexican Peso holds gains against the Greenback after hitting fresh YTD high
The Mexican Peso (MXN) is holding firm against the US Dollar (USD) on Tuesday after reaching a fresh year-to-date high in the early hours of the European session as markets turn cautious ahead of Wednesday’s House vote on President Trump’s “One Big Beautiful Bill.” 
USDMXN
Fundamental Analysis
Technical Analysis
Banxico
Forexlive European FX news wrap: RBA cut rates as expected, AUD falls on 50 bps debate
Forexlive European FX news wrap: RBA cut rates as expected, AUD falls on 50 bps debate
Forex news from the European morning session on May 20, 2025
Session wrap
Wrap Europe
The PBoC reiterates implementation of loose monetary policy
The PBoC reiterates implementation of loose monetary policy
China central bank governor chairs symposium on financial support for the real economy
USD/JPY finds temporary support near 144.00, US-Japan trade talks in focus
USD/JPY finds temporary support near 144.00, US-Japan trade talks in focus
The USD/JPY pair gauges ground near 144.00 during European trading hours on Tuesday, but is still down 0.2% near 144.50. The pair attracts bids as the US Dollar (USD) rebounds after revisiting the weekly low, which it posted on Monday.
USDJPY
DollarIndex
Japan
Fed
UnitedStates
ECB's Knot: Inflation outlook too uncertain to say whether we need a rate cut in June
ECB's Knot: Inflation outlook too uncertain to say whether we need a rate cut in June
European Central Bank Governing Council member Klaas Knot said on Tuesday that the medium-term inflation outlook is too uncertain to say whether the ECB needs to cut key rates again in June, per Reuters.
ECB
CentralBanks
USD/MXN breaks key support zone – Société Générale
USD/MXN breaks key support zone – Société Générale
USD/MXN has broken below a key consolidation range, forming a bearish rounding top pattern and signaling further downside risks toward multi-month lows, Société Générale's FX analysts note.
USDMXN
Banks
Technical Analysis
Mexico
GBP/USD holds above 50-DMA – Société Générale
GBP/USD holds above 50-DMA – Société Générale
GBP/USD remains in an uptrend, consolidating near key resistance at 1.3430, with potential for further gains if this level is breached, Société Générale's FX analysts note.
GBPUSD
Banks
Technical Analysis
What are the current interest rates expectations for the major central banks?
What are the current interest rates expectations for the major central banks?
The pricing remained unchanged for most central banks except the RBA where we saw a more dovish repricing after Governor Bullock's 50 bps comment
market overview
Supply deficit on the Palladium market is shrinking – Commerzbank
Supply deficit on the Palladium market is shrinking – Commerzbank
In addition to the forecasts for Platinum, Metals Focus has also published forecasts for Palladium, Commerzbank's commodity analyst Carsten Fritsch notes.
Banks
Metals
Platinum
Palladium
EU wants to propose lowering the price cap for Russian Oil – Commerzbank
EU wants to propose lowering the price cap for Russian Oil – Commerzbank
According to a Reuters report, the EU intends to propose lowering the price cap for Russian Oil from $60 to $50 per barrel at the meeting of G7 finance ministers, Commerzbank's commodity analyst Barbara Lambrecht notes.
Oil
Banks
Energy
RussianFederation
USD/CNH is likely to edge higher – UOB Group
USD/CNH is likely to edge higher – UOB Group
US Dollar (USD) is likely to edge higher, but any advance is unlikely to reach the major resistance at 7.2330. In the longer run, downward momentum has largely faded; USD is likely to trade in a 7.1850/7.2450 range for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Banks
Technical Analysis
USDCNH
The rise of e-mobility is increasingly dampening global oil demand – Commerzbank
The rise of e-mobility is increasingly dampening global oil demand – Commerzbank
In its annual Global Electrical Vehicle Outlook, the International Energy Agency notes an unbroken high growth trend in electric mobility, particularly in China and many emerging markets, Commerzbank's commodity analyst Barbara Lambrecht notes.
Banks
Energy
Oil
China
USD/JPY is consolidating within a tighter range of 144.50/147.30 – UOB Group
USD/JPY is consolidating within a tighter range of 144.50/147.30 – UOB Group
There has been no further increase in downward momentum; instead of weakening, US Dollar (USD) is likely to trade between 144.60 and 145.70.
USDJPY
Technical Analysis
Banks
EUR/USD extends upside as US credit downgrade keeps Greenback on backfoot
EUR/USD extends upside as US credit downgrade keeps Greenback on backfoot
EUR/USD trades firmly near 1.1250 in Tuesday’s North American session, following the previous day’s upside move.
EURUSD
ECB
DollarIndex
Inflation
SEO
China's crude Oil processing weak in April – Commerzbank
China's crude Oil processing weak in April – Commerzbank
China's refineries appear to have used the recent low Oil prices primarily to increase their inventories, Commerzbank's commodity analyst Carsten Fritsch notes.
Oil
Banks
Energy
WTI
The RBA continues to cut – Commerzbank
The RBA continues to cut – Commerzbank
The Reserve Bank of Australia (RBA) has decided to continue its cycle of interest rate cuts, lowering its key interest rate by another 25 basis points to 3.85% this morning, Commerzbank's FX analyst Antje Praefcke notes.
Banks
AUDUSD
RBA
Technical Analysis
Australia
NZD/USD: Likely to trade in a 0.5900/0.5950 range – UOB Group
NZD/USD: Likely to trade in a 0.5900/0.5950 range – UOB Group
New Zealand Dollar (NZD) is likely to trade in a 0.5900/0.5950 range vs US Dollar (USD). In the longer run, outlook remains mixed, but NZD is likely to trade in a tighter range of 0.5835/0.5985, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
NZDUSD
Banks
Technical Analysis
Fed faces MAGA criticism over spending – Commerzbank
Fed faces MAGA criticism over spending – Commerzbank
The damage to Fed independence doesn't have to happen with a big bang, but could be much more subtle.
Banks
Fed
InterestRate
LME Aluminium inventories surge – ING
LME Aluminium inventories surge – ING
Readily available Aluminium inventories in London Metal Exchange (LME) warehouses jumped by 92,950 tonnes to 343,025 tonnes yesterday. It’s the biggest tonnage increase since May 2024.
Commodities
Metals
Banks
Copper
AUD/USD: Unlikely to reach 0.6515 – UOB Group
AUD/USD: Unlikely to reach 0.6515 – UOB Group
Australian Dollar (AUD) could continue to rise vs US Dollar (USD), but any advance is unlikely to reach 0.6515; there is another resistance level at 0.6475.
AUDUSD
Technical Analysis
Banks