April has been good for the Canadian Dollar (CAD) (it’s strongest month against the US Dollar (USD) since 2019) but spot continues to range trade, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Euro (EUR) is down a marginal 0.2% against the US Dollar (USD), trading quietly and consolidating within a narrow band at the lower end of its three-week range, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades flat at 99.30 at the time of writing on Wednesday.
The AUD/USD pair trades slightly higher near 0.6400 during European trading hours on Wednesday. The Aussie pair ticks higher as the Australian Dollar (AUD) performs strongly despite soft Reserve Bank of Australia (RBA) Q1 Trimmed Mean Consumer Price Index (CPI) data.
The official purchasing managers' indices for the Chinese economy were published this morning, revealing the first signs of the impact of the prohibitive US tariffs. The PMI for the manufacturing sector fell by 1.5 points to 49.0, its lowest level since late 2023.
While we enjoy the bank holiday tomorrow morning, the Bank of Japan will be holding its May monetary policy meeting. Having raised its key interest rate from 0.25% to 0.5% in January, the Bank of Japan then decided to pause in March.
EUR/USD slides to near 1.1350 during North American trading hours on Wednesday. The major currency pair weakens as the US Dollar (USD) extends its initial gains after the release of a string of United States (US) economic data.
In an otherwise relatively quiet week, the USD found some support from the continued positive risk environment, bolstered by de-escalating tariff headlines - even as JOLTS job openings saw a larger-than-expected decline in March (ahead of Liberation Day), Danske Bank's FX analysts report.
To the impartial observer, it should be quite obvious that the US government's trade policy strategy is currently failing spectacularly. Chinese President Xi Jingping is refusing to call to make a 'deal'.
Gold price (XAU/USD) is recovering from incurred losses and trades around $3,288 on Wednesday after the US Gross Domestic Product and Personal Consumption Expenditures (PCE). Bullion is facing a second day of some profit taking after United States (US) President Donald Trump signed an executive ord
In its latest forecasts, the International Copper Study Group (ICSG) expects the global Copper market to see a supply surplus of 289kt in 2025, largely on higher mine supply and rising smelting capacity, compared to the 194kt of surplus projected earlier and 138kt of surplus seen last year.
The US Dollar Index (DXY), which tracks the US Dollar (USD) against a basket of six major currencies, extends its gains for a second consecutive day, trading near 99.40 during Wednesday’s European session.
Q1 trimmed mean CPI fell into the RBA’s 2-3% target range for the first time since end-2021. The growth/stability trade-off likely favours more RBA cuts amid growth headwinds posed by US tariffs.
The Eurozone economy expanded by 0.4% in the three months to March of 2025 after growing by 0.2% in the fourth quarter of 2024, the preliminary estimate released by Eurostat showed Wednesday.
Yesterday saw the next round of poor sentiment indicators from the US. According to the Conference Board, US consumer confidence fell to its lowest level since the start of the coronavirus pandemic.
The USD/CAD pair extends its sideways consolidative price move through the first half of the European session on Wednesday and remains confined in a familiar range held over the past two weeks.
The US Dollar (USD) continues to be pulled by opposing forces: US President Donald Trump’s scaling back of some protectionism measures versus data evidence of a US slowdown. Ultimately, the tiebreak for FX impact seems to be equities performance.
EUR/JPY halts its two-day losing streak, trading around 162.40 during the European session on Wednesday. The currency cross holds ground following the release of key economic data from Germany.
The German economy expanded by 0.2% over the quarter in the first quarter of 2025, following a 0.2% contraction in the final quarter of 2024, according to the preliminary data published by Destatis on Wednesday. Markets expected a 0.2% growth in the reported period.
The Pound Sterling (GBP) extends correction to near 1.3310 against the US Dollar (USD) in Wednesday’s North American session from its fresh three-year high of 1.3445 posted on Tuesday.
Indian Rupee (INR) crosses trade with a negative bias at the start of Wednesday, according to FXStreet data. The Euro (EUR) to the Indian Rupee changes hands at 96.71, with the EUR/INR pair declining from its previous close at 96.95.
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