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Fed’s Jefferson: Tariffs could lead to higher inflation
Fed’s Jefferson: Tariffs could lead to higher inflation
Fed Vice Chair Philip Jefferson said that recent inflation numbers suggest the Fed is still making headway toward its 2% target. However, he cautioned that the outlook has become less certain, with the threat of new import tariffs potentially pushing prices higher.
Fed
Inflation
Currencies
DollarIndex
InterestRate
EUR a mid-performer in context of broad-based USD weakness – Scotiabank
EUR a mid-performer in context of broad-based USD weakness – Scotiabank
The Euro (EUR) is entering Wednesday’s NA session with a decent 0.5% gain, a mid-performer among the G10 in the context of a broadly weaker US Dollar (USD), Scotiabank's Chief FX Strategist Shaun Osborne notes.
Banks
EURUSD
Technical Analysis
CAD up marginally and a relative underperformer – Scotiabank
CAD up marginally and a relative underperformer – Scotiabank
The Canadian Dollar (CAD) is up marginally vs. the US Dollar (USD) and continuing to underperform its G10 peers for a second consecutive session, trading with the broader trend but with moves of a smaller magnitude, Scotiabank's Chief FX Strategist Shaun Osborne notes.
USDCAD
Banks
Technical Analysis
Canada
BOC
USD/CAD steady below 1.3950 as soft US inflation weighs on the US Dollar
USD/CAD steady below 1.3950 as soft US inflation weighs on the US Dollar
The USD/CAD pair remains under pressure for the second consecutive day, trading flat near 1.3950 during Wednesday’s European trading hours.
USDCAD
Fundamental Analysis
Macroeconomics
USD extending weakness as markets focus on US/Korea talks, US bias – Scotiabank
USD extending weakness as markets focus on US/Korea talks, US bias – Scotiabank
The US Dollar (USD) is weakening broadly into Wednesday’s NA session, extending Tuesday’s CPI driven-decline and retracing most of its US/China-trade related relief gains from the start of the week, Scotiabank's Chief FX Strategist Shaun Osborne notes.
DollarIndex
Banks
Technical Analysis
ForexLive European FX news wrap: Dollar struggles continue amid mixed markets
ForexLive European FX news wrap: Dollar struggles continue amid mixed markets
Forex news from the European morning session on May 14, 2025
Session wrap
Wrap Europe
Mexican Peso holds onto gains with the Banxico decision in sight
Mexican Peso holds onto gains with the Banxico decision in sight
The Mexican Peso (MXN) posts a second consecutive day of gains on Wednesday against the US Dollar (USD),  slipping below 19.40 ahead of key commentary from Federal Reserve (Fed) officials that could influence the monetary policy outlook.
USDMXN
Banxico
Mexico
Technical Analysis
Fundamental Analysis
GBP/JPY Price Forecast: Retraces from four-month high above 196.50
GBP/JPY Price Forecast: Retraces from four-month high above 196.50
The GBP/JPY pair corrects to near 194.45 during European trading hours on Wednesday from its four-month high of 196.40 posted earlier in the day.
GBPJPY
BOJ
BOE
GDP
SupportResistance
US Dollar sees Asian currency turmoil losses starting to pare back
US Dollar sees Asian currency turmoil losses starting to pare back
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, has dipped in the direction of the 100-marker, near 100.60 on Wednesday.
DollarIndex
Macroeconomics
UnitedStates
SEO
TradeWar
GBP: Eyeing a break higher – ING
GBP: Eyeing a break higher – ING
The US jobs market has continued to cool, ING's FX analyst Francesco Pesole notes.
Banks
GBPUSD
Technical Analysis
EURGBP
USD: Strategic USD shorts quickly re-emerge – ING
USD: Strategic USD shorts quickly re-emerge – ING
The dollar gave back almost all of its post-China-deal gains in one session.
DollarIndex
Banks
Technical Analysis
Fed
US MBA mortgage applications w.e. 9 May +1.1% vs +11.0% prior
US MBA mortgage applications w.e. 9 May +1.1% vs +11.0% prior
Latest data from the Mortgage Bankers Association for the week ending 9 May 2025
EUR: Not in a prime position to rally – ING
EUR: Not in a prime position to rally – ING
EUR/USD is back to trading close to the 1.120 mark, entirely driven by the swings in the dollar following the US-China deal and CPI numbers, ING's FX analyst Francesco Pesole notes.
EURUSD
Banks
Technical Analysis
Oil: Iranian sanctions – ING
Oil: Iranian sanctions – ING
ICE Brent rallied by almost 2.6% yesterday, reaching its highest since late April. A weaker USD following a cooler-than-expected US consumer price index (CPI) provided some tailwinds to the oil market.
Oil
Banks
Commodities
Energy
WTI
AUD/USD climbs as Australian wage growth beats expectations
AUD/USD climbs as Australian wage growth beats expectations
The Australian Dollar (AUD) strengthened further against the US Dollar (USD) on Wednesday, with the AUD/USD pair rising close to the 0.6500 psychological level, up nearly 2% so far this week, buoyed by a combination of weaker US Consumer Price Index (CPI) data and stronger-than-expected wage growth
AUDUSD
InterestRate
RBA
NZD/USD: RBNZ to keep cutting in May – ING
NZD/USD: RBNZ to keep cutting in May – ING
Another 25bp rate cut by the Reserve Bank of New Zealand on 28 May seems likely. Markets are fully pricing it in, following the RBNZ’s previous indications that growth remains a major concern, ING's FX analysts Francesco Pesole and Chris Turner note.
Banks
NZDUSD
Technical Analysis
RBNZ
USD/CNH: Likely to trade sideways between 7.1850 and 7.2100 – UOB Group
USD/CNH: Likely to trade sideways between 7.1850 and 7.2100 – UOB Group
US Dollar (USD) is likely to trade sideways between 7.1850 and 7.2100. In the longer run, renewed downward momentum suggests 7.1700 is back in sight, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Banks
Technical Analysis
USDCNH
USD/JPY plummets below 146.00 as soft US CPI data batters Greenback
USD/JPY plummets below 146.00 as soft US CPI data batters Greenback
The USD/JPY pair plunges to near 145.80 during European trading hours on Wednesday. The pair faces a sharp sell-off as the US Dollar (USD) has been hit hard by the soft United States (US) Consumer Price Index (CPI) data for April.
USDJPY
Fed
BOJ
Inflation
DollarIndex
AUD/USD: Cheering the US-China de-escalation – ING
AUD/USD: Cheering the US-China de-escalation – ING
USD and the Australian dollar are the biggest beneficiaries in G10 from a de-escalation in US-China trade tensions, ING's FX analysts Francesco Pesole and Chris Turner note.
AUDUSD
Banks
Technical Analysis
USD/JPY: Further USD strength is likely – UOB Group
USD/JPY: Further USD strength is likely – UOB Group
US Dollar (USD) is likely to trade in a range between 146.70 and 148.20. In the longer run, further USD strength is likely, but it could first trade in a range for a few days; the level to monitor is 149.30, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
USDJPY
Technical Analysis
Banks
USD/CAD: Case for 1.40+ is stronger now – ING
USD/CAD: Case for 1.40+ is stronger now – ING
USD/CAD observed volatility has eased back significantly, as the loonie seems to be trading again as an extension of US-growth sentiment – and is therefore more correlated with USD, ING's FX analysts Francesco Pesole and Chris Turner note.
USDCAD
Banks
Technical Analysis
Canada
BOC
EUR/USD strengthens as soft US inflation data keeps US Dollar on backfoot
EUR/USD strengthens as soft US inflation data keeps US Dollar on backfoot
EUR/USD trades firmly near 1.1250 during North American trading hours on Wednesday.
EURUSD
ECB
Fed
Inflation
SEO
NZD/USD: Likely to rise further – UOB Group
NZD/USD: Likely to rise further – UOB Group
New Zealand Dollar (NZD) is likely to rise further; it is unlikely to be able to break clearly above 0.5965. In the longer run, outlook is mixed; NZD is expected to trade in a 0.5835/0.6030 range, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
NZDUSD
Technical Analysis
Banks
GBP/USD: Some emerging optimism for the pound – ING
GBP/USD: Some emerging optimism for the pound – ING
Pound Sterling (GBP) is holding up quite well as UK Prime Minister Keir Starmer delivers some wins on trade and geopolitics, ING's FX analysts Francesco Pesole and Chris Turner note.
Banks
GBPUSD
Technical Analysis
Crude oil is back at the key resistance zone as a breakout becomes likely
Crude oil is back at the key resistance zone as a breakout becomes likely
The crude oil market is coming back to life as more positive global growth expectations are giving oil prices a boost
AUD/USD: Any advance is likely part of a higher range of 0.6420/0.6515 – UOB Group
AUD/USD: Any advance is likely part of a higher range of 0.6420/0.6515 – UOB Group
Scope for further Australian Dollar (AUD) strength against the US Dollar (USD), but any advance is likely part of a higher range of 0.6420/0.6515. In the longer run, to continue to rise, AUD must break and hold above 0.6515, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
AUDUSD
Technical Analysis
Banks
Fed's Goolsbee: Some parts of April inflation represent lagged nature of data
Fed's Goolsbee: Some parts of April inflation represent lagged nature of data
In an interview with National Public Radio (NPR) on Wednesday, Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee noted that some parts of the April inflation report represent the lagged nature of the data, adding that the Fed is still holding its breath.
CentralBanks
Fed
Silver price today: Silver falls, according to FXStreet data
Silver price today: Silver falls, according to FXStreet data
Most recent article: Silver price today: Silver falls, according to FXStreet data
Silver
Commodities
Metals
USD/JPY: Quite the round trip! – ING
USD/JPY: Quite the round trip! – ING
The Japanese Yen (JPY) was one of the prime beneficiaries of the ‘sell America’ theme that we briefly saw in April, ING's FX analysts Francesco Pesole and Chris Turner note.
USDJPY
Banks
Technical Analysis
BOJ
Japan
US Dollar Index Price Forecast: Tests 100.50 support, with nine-day EMA providing backing
US Dollar Index Price Forecast: Tests 100.50 support, with nine-day EMA providing backing
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against a basket of six major currencies, is losing ground for the second successive session, trading near 100.50 during the European hours on Wednesday.
DollarIndex
Technical Analysis
Majors
TRY: Balance of payments data signal more risk – Commerzbank
TRY: Balance of payments data signal more risk – Commerzbank
The Turkish balance of payments data for March published yesterday are perhaps out of date already, but they brought early warning signs that foreign capital flow could reverse under political or market volatility.
USDTRY
Turkey
Banks
CBRT
GBP/USD: Likely to trade in a 1.3140/1.3405 range – UOB Group
GBP/USD: Likely to trade in a 1.3140/1.3405 range – UOB Group
Pound Sterling (GBP) could continue to rebound against US Dollar (USD), but any advance is likely limited to a test of 1.3340. In the longer run, buildup in momentum has faded; GBP is likely to trade in a 1.3140/1.3405 range, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
GBPUSD
Technical Analysis
Banks
ECB's Nagel: Role of the Euro will become stronger as a reserve currency over the next few years
ECB's Nagel: Role of the Euro will become stronger as a reserve currency over the next few years
European Central Bank (ECB) policymaker and Bundesbank President Joachim Nagel is speaking at a panel discussion at the New Economy forum in Madrid on Wednesday.
ECB
CentralBanks
InterestRate
EURUSD
China April M2 money supply +8.0% vs +7.3% y/y expected
China April M2 money supply +8.0% vs +7.3% y/y expected
Latest Chinese credit data for April 2025 has been released