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Forex Today: Could Nonfarm Payroll figures save the US Dollar?
Forex Today: Could Nonfarm Payroll figures save the US Dollar?
The Greenback bounced off its weekly lows of 98.35 as China’s media reported a call between US President Donald Trump and China’s President Xi Jinping. Both parties mentioned the call was good and focused on trade policies and rare earths.
DollarIndex
Currencies
EURUSD
NFP
Fed
EUR/USD holds above 1.1440 as ECB cuts rates; focus shifts to US NFP data
EUR/USD holds above 1.1440 as ECB cuts rates; focus shifts to US NFP data
EUR/USD holds onto earlier gains of over 0.20% after the European Central Bank (ECB) grabbed the headlines, reducing rates but leaving the door open for a pause at the upcoming July 24 meeting. At the time of writing, the pair trades at 1.1441 after bouncing off daily lows of 1.1404.
EURUSD
Technical Analysis
Majors
Fundamental Analysis
ECB
How the Elon-Trump divorce could become the most-expensive breakup in history
How the Elon-Trump divorce could become the most-expensive breakup in history
Elon and Trump continue to fight. Tesla shares now down 12%, this could be more expensive than Bill Gates' divorce
Fed's Schmid: I expect tariffs to start to show through to prices in the coming months
Fed's Schmid: I expect tariffs to start to show through to prices in the coming months
Federal Reserve (Fed) Bank of Kansas City President Jeff Schmid took a slightly different approach to other Fed officials who also spoke on Thursday, but still remains focused on the overall difficulty of manipulating Fed policy rates in an uneasy post-tariff environment.
Fed
CentralBanks
Inflation
TradeWar
Fed's Harker: Amid uncertainty, the Fed must wait and see on next policy steps
Fed's Harker: Amid uncertainty, the Fed must wait and see on next policy steps
Federal Reserve (Fed) Bank of Philadelphia President Patrick Harker added his own perspective to comments from other Fed officials earlier in the day, noting that whiplash trade policies from the Trump administration are making it difficult for Fed officials to move on policy rates.
Fed
CentralBanks
Inflation
TradeWar
Dow Jones Industrial Average loses some ground as Trump and Musk clash
Dow Jones Industrial Average loses some ground as Trump and Musk clash
The Dow Jones Industrial Average (DJIA) held steady on Thursday, chugging quietly near the previous day’s closing bids.
DowJones
Equities
SEO
TradeWar
NFP
USD/JPY recovers on de-escalating US-China trade tensions ahead of critical NFP report
USD/JPY recovers on de-escalating US-China trade tensions ahead of critical NFP report
The Japanese Yen (JPY) is weakening against the US Dollar (USD) on Thursday following news of a productive phone call between US President Donald Trump and Chinese President Xi Jinping.
USDJPY
Fundamental Analysis
Majors
Macroeconomics
Technical Analysis
Australian Dollar climbs despite weak trade balance data, NFP in focus
Australian Dollar climbs despite weak trade balance data, NFP in focus
The Australian Dollar (AUD) extends its rally against the US Dollar (USD) for a second day on Thursday, brushing aside weak domestic data as the Greenback loses ground following a string of disappointing US economic releases.
AUDUSD
Fundamental Analysis
TradeBalance
BoC Deputy Governor Kozicki: Many businesses expect activity to weaken in the near term
BoC Deputy Governor Kozicki: Many businesses expect activity to weaken in the near term
Bank of Canada (BoC) Deputy Governor Sharon Kozicki warned on Thursday that a growing number of Canadian businesses are bracing for a general slowdown in overall activity in the coming months, which could undercut job growth performance and put downward pressure on the Canadian economy.
BOC
Canada
CentralBanks
Fed's Kugler: I see greater upside risks to inflation and downside risks to employment
Fed's Kugler: I see greater upside risks to inflation and downside risks to employment
Federal Reserve (Fed) Board of Governor member Adrianna Kugler noted on Thursday that although growth remains firm (albeit subdued) and Fed policy appears to be holding at a moderate level, key risks are growing, specifically in regards to inflation and a growing bubble of layoff intentions from bus
Fed
CentralBanks
Inflation
Carney and Trump are holding secret talks, US ambassador says
Carney and Trump are holding secret talks, US ambassador says
They aim to hammer out a trade and security framework
The Trump-Musk divorce is official
The Trump-Musk divorce is official
Trump comments on Elon Musk
USD
Stocks
Trump says call with Xi went 'very well'
Trump says call with Xi went 'very well'
Trump reiterates positive take on the phone call
Silver prices surge to multi-year highs, posting intraday gains near 3.50%
Silver prices surge to multi-year highs, posting intraday gains near 3.50%
Silver (XAG/USD) surged sharply on Thursday, rallying nearly 4% intraday and reaching their highest level in more than a decade, as precious metals continue to attract investors amid escalating trade tensions and increased US Dollar outflows. 
Silver
XAGUSD
Technical Analysis
Metals
Fundamental Analysis
US Pres. Trump: Concluded a very good phone call with President Xi of China
US Pres. Trump: Concluded a very good phone call with President Xi of China
United States (US) President Donald Trump said on Truth Social on Thursday that he had a "very good phone call" with Chinese President Xi Jinping, during which they discussed the intricacies of the trade deal.
UnitedStates
China
Politics
Macroeconomics
USD/CAD slips below 1.3650 as US jobless claims rise, Canada’s PMI contract
USD/CAD slips below 1.3650 as US jobless claims rise, Canada’s PMI contract
USD/CAD extended its losses on Thursday amid a busy schedule on both sides of the border, with US unemployment benefits data coming in above forecasts. At the same time, Canada’s Ivey PMI shows that business activity contracted for the second straight month.
USDCAD
Majors
Currencies
Macroeconomics
EUR/USD climbs to six-week high as ECB cuts interest rates, US Jobless Claims disappoint
EUR/USD climbs to six-week high as ECB cuts interest rates, US Jobless Claims disappoint
The Euro (EUR) edges higher against the US Dollar (USD) on Thursday, following choppy price action, as traders react to the European Central Bank’s (ECB) widely expected interest rate cut and disappointing US Initial Jobless Claims, which weigh on the Greenback.
EURUSD
Eurozone
ECB
InterestRate
GBP/USD advances to multi-year highs above 1.3600 on renewed USD weakness
GBP/USD advances to multi-year highs above 1.3600 on renewed USD weakness
GBP/USD gained traction in the American session on Thursday and climbed to its highest level since February 2022 above 1.3600. At the time of press, the pair was up 0.4% on the day at 1.3605.
Majors
GBPUSD
Currencies
Macroeconomics
Commodity currencies climb as Xi and Trump hold a phone call
Commodity currencies climb as Xi and Trump hold a phone call
Still waiting for details and readout. Big moment in markets
Lagarde speech: Getting to the end of the monetary policy cycle
Lagarde speech: Getting to the end of the monetary policy cycle
Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to lower key rates by 25 basis points at the June policy meeting and responds to questions from the press.
CentralBanks
ECB
Lagarde speech: We are in a good place after 25 bps rate cut today
Lagarde speech: We are in a good place after 25 bps rate cut today
Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to lower key rates by 25 basis points at the June policy meeting and responds to questions from the press.
ECB
CentralBanks
Lagarde speech: Survey data point to some weaker prospects in near term
Lagarde speech: Survey data point to some weaker prospects in near term
Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to lower key rates by 25 basis points at the June policy meeting and responds to questions from the press.
ECB
CentralBanks
US President Trump and Chinese President Xi hold phone call – Xinhua
US President Trump and Chinese President Xi hold phone call – Xinhua
According to Xinhua news agency, United States (US) President Donald Trump and Chinese President Xi Jinping held a phone call on Trump's request to engage in discussions and reflect ongoing diplomatic communication amidst tensions.
UnitedStates
China
Macroeconomics
AUDUSD
US weekly Initial Jobless Claims rise to 247K vs. 235K expected
US weekly Initial Jobless Claims rise to 247K vs. 235K expected
There were 247,000 initial jobless claims in the week ending May 31, according to data published Thursday by the United States (US) Department of Labor (DOL). This figure followed the previous week's print of 239,000 (revised from 240,000) and came in worse than the market expectation of 235,000.
UnitedStates
Employment
EconomicIndicator
Macroeconomics
US initial jobless claims 247K vs 235K expected
US initial jobless claims 247K vs 235K expected
Weekly US initial jobless claims and continuing claims data for the week ending May 31, 2025
US April trade balance -61.6B vs -70.0B expected
US April trade balance -61.6B vs -70.0B expected
April 2025 US international trade balance data
USD/INR holds near 85.85 as markets brace for RBI's interest rate decision and US NFP
USD/INR holds near 85.85 as markets brace for RBI's interest rate decision and US NFP
The Indian Rupee (INR) is trading flat against the US Dollar (USD) on Thursday during the American session, as USD/INR trims its earlier losses despite weaker US labor market data.
USDINR
India
Fundamental Analysis
Technical Analysis
ICYMI: NY Fed survey found most firms passed through tariffs to their customers
ICYMI: NY Fed survey found most firms passed through tariffs to their customers
Some findings from the NY Fed survey on tariffs passthrough
market overview