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ForexLive Asia-Pacific FX news wrap: Canada election result tight, CAD yo-yo
Forex news for Asian trading on Tuesday, April 29, 2025
Session wrap
Wrap Asia
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China’s 2nd batch of 81 bn yuan ultra-long special treasury bonds for consumer trade-in
More stimulus
China
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Fxstreet
NZD/USD falls to near 0.5950 due to shifting US-China trade signals
NZD/USD is retracing its recent gains from the previous session, trading around 0.5960 during the Asian hours on Tuesday. The US Dollar (USD) is finding support as optimism grows over easing US-China trade tensions.
NZDUSD
Majors
Macroeconomics
NewZealand
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There is one Canadian election outcome that could hurt the loonie ... and here it comes
Liberal minority is the current projection
Politics
CAD
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CAD sliding further now after projections show a minority Carney government is likely
Carney wins but will govern in a minority government according to the latest projections
Politics
CAD
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WTI struggles near $61.75 area, over one-week low amid demand concerns
West Texas Intermediate (WTI) US Crude Oil prices struggle for a firm intraday direction during the Asian session on Tuesday and oscillate in a narrow band around the $61.75 area, just above a one-and-half-week low touched the previous day.
Oil
OPEC
TradeWar
WTI
Commodities
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Hidden damage: Trump tariffs threaten bigger blow to China’s economy, Nomura warns
Tariffs directly hit 2.2% of China’s GDP, and economists say broader losses are likely as the shock spreads to China’s services sector.
China
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Fxstreet
USD/INR recovers as tensions rise between India and Pakistan
The Indian Rupee (INR) trades in negative territory on Tuesday after logging its best day in more than two weeks in the previous session. The renewed US Dollar (USD) demand due to softening tensions between the United States and China might weigh on the Indian currency.
EmergingMarkets
SEO
USDINR
India
Macroeconomics
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CTV projects Carney's Liberals will form a minority government
This is les positive for the CAD if accurate
Politics
CAD
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Fxstreet
USD/CAD depreciates to near 1.3800 as Canadian Dollar gains on early election outcome
The USD/CAD pair remains under pressure for the second straight session, hovering around 1.3820 during Asian trading hours on Tuesday. The pair weakens as the Canadian Dollar (CAD) gains modestly, supported by early election results in Canada.
USDCAD
Majors
Macroeconomics
Canada
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Fxstreet
Canada election update: Liberal Party wins, to form minority government
Amidst the latest updates to the Canadian election outcome, CTV News declares that the Liberal Party, led by Mark Carney, will form a minority government.
Canada
USDCAD
Politics
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More on China for min urging defiance of Trump tariff bullying
Chinese Foreign Minister Wang Yi
Politics
China
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Fxstreet
Japanese Yen sticks to intraday losses amid positive risk tone; USD/JPY holds steady around mid-142.00s
The Japanese Yen (JPY) retains its negative bias heading into the European session on Tuesday as hopes for the de-escalation of the US-China trade war continue to undermine demand for traditional safe-haven assets.
RiskAppetite
TradeWar
BOJ
SEO
USDJPY
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Canadian dollar gaining ground as Carney wins election
Projections show Carney's Liberals have won
Politics
CAD
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CTV says Carney has won the election - too early to say if majority or minority though
Canadian election not quite over
CAD
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Big bounce in odds for a Liberal majority in Canada
The results are flowing in now
CAD
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Barclays on plans by Japan’s largest four life insurers to reduce JGB holdings
ps. It's a Japanese holiday today, markets are closed
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Polls have closed across much (not all) of Canada - results to flow in steadily now
We can expect a quick flow of results from the election from now.
Politics
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Fxstreet
Australian Dollar struggles as US Dollar appreciates due to easing US-China trade concerns
The Australian Dollar (AUD) is edging lower on Tuesday after registering more than 0.50% gains against the US Dollar (USD) in the previous session. The AUD/USD pair depreciates as the US Dollar appreciates amid easing global trade tensions.
Australia
SEO
Majors
AUDUSD
Macroeconomics
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GBP/USD declines below 1.3450 ahead of BoE’s Ramsden speech
The GBP/USD pair attracts some sellers to near 1.3425 during the early Asian trading hours on Tuesday, pressured by a modest rebound of US Dollar (USD). Investors await a speech by Bank of England (BoE) official Dave Ramsden for fresh impetus.
GBPUSD
Majors
Macroeconomics
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PBOC sets USD/CNY reference rate at 7.2029 vs. 7.2043 previous
The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Tuesday at 7.2029 as compared to the previous day's fix of 7.2043 and 7.2781 Reuters estimate.
Currencies
CentralBanks
USDCNY
PBOC
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Barclays says US credit spreads likely to widen in the coming six months
Risk remain despite the recent narrowing back
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Gold Price Forecast: XAU/USD holds below $3,350 on firmer US Dollar, easing US-China trade tensions
The Gold price (XAU/USD) loses ground to around $3,335 during the early Asian session on Tuesday. The yellow metal edges lower amid a modest rebound of the US Dollar (USD) and a softening in tensions between the United States and China.
XAUUSD
Gold
Commodities
Macroeconomics
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Canadian election, early results trickling in
Way too early to be drawing conclusions, which is not stopping anyone, of course ;-)
CAD
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Goldman Sachs says Trump tariffs could endanger 16 million export jobs in China
Goldman Sachs note from Sunday ICYMI
China
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China’s Foreign Minister: Concession, withdrawal will only make bully aggressive
Chinese Foreign Minister Wang Yi said on Tuesday that concession and retreat will only make the bully more aggressive, adding that dialogue can help resolve differences.
China
TradeWar
UnitedStates
Macroeconomics
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White House official says Trump expected to soften auto tariffs - WSJ
According to the Wall Street Journal, US President Donald Trump plans to soften the impact of his automotive tariffs by preventing duties on foreign-made cars from stacking with other tariffs and easing levies on foreign parts used in car manufacturing. Those actions are expected tomorrow.
TradeWar
UnitedStates
Macroeconomics
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"Iran Dangles 'Trillion Dollar' Incentive For Trump in Deal Talks"
Iran appears to have figured out what motivates the Don?
Politics
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EUR/USD drifts lower to near 1.1400 on tariff uncertainty
The EUR/USD pair edges lower to near 1.1415 during the early Asian session on Tuesday. The Euro (EUR) weakens against the US Dollar (USD) amid rising bets for further rate cuts from the European Central Bank (ECB) in June.
EURUSD
Majors
Macroeconomics
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Reuters report now - White House official says Trump expected to soften auto tariffs
Following on from the Wall Street Journal report
SPX
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Wall Street Journal says Trump to soften blow on automotive tariffs
Preventing duties on foreign-made cars from stacking on top of other tariffs, easing some levies on foreign parts used to manufacture cars in the US
Bonds
SPX
USD
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China's FM says concession and retreat will only make the bully more aggressive
Referring to Trump
China
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Reports that US (R) Senator Paul expects to have votes to block Trump's tariffs (but ...)
Trump would veto this
Politics
USD
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Fxstreet
Mexican Peso slips despite strong trade data, as US trade worries persist
The Mexican Peso weakened by 0.48% against the US Dollar on Monday, despite Wall Street gains and a 0.64% drop in the US Dollar Index (DXY). At the time of writing, the USD/MXN trades at 19.58 after bouncing off daily lows of 19.47.
Mexico
SEO
USDMXN
Banxico
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Nikkei: "Japan life insurers set to cut JGB holdings by $9bn"
"Rising interest rates mark turning point in years long trend of boosting holdings"
Bonds
JPY
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Fxstreet
AUD/JPY Price Analysis: Struggles to hold ground ahead of the Asian session
The AUD/JPY is trading close to the 91.30 area on Monday, showing very limited movement ahead of the Asian session. The pair remains stuck mid-range after a session characterized by low volatility.
Crosses
Technical Analysis
Currencies
AUDJPY
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Fxstreet
EUR/JPY Price Analysis: Euro steady near mid-range as bullish signals hold ahead of Asia
The EUR/JPY is trading with slight gains near the 162.20 zone on Monday's session ahead of the Asian open, reflecting a cautious but positive mood. After modest fluctuations during the European hours, the pair stabilizes mid-range, hinting at a market waiting for fresh catalysts in Asia.
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Dalio on Trump tariff turmoil - warns it's 'too late'
Ray Dalio isn’t mincing words
Bonds
SPX
USD
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Extend-and-Pretend. US tax bill goal date was Memorial Day, now Bessent hopes for July 4
Bessent is stringing us along even further
Bonds
Politics
SPX
USD
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Fxstreet
USD/JPY plunges as trade optimism fades and BoJ looms
The USD/JPY pair faces heavy selling pressure, sliding to the 142.00 zone during Monday’s North American hours. Investor caution has resurfaced as broader trade optimism erodes, pushing demand toward the safe-haven Japanese Yen.
Technical Analysis
SupportResistance
BOJ
USDJPY
DollarIndex
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