Author: FX

There was a number of economic releases today story with trade data from the US and Canada. The U.S. trade balance for the latest month showed a deficit of -$60.1B, widening from the prior month’s -$57.3B, but coming in better than the -$60.9B estimate. The increase in the deficit was driven primarily by a larger goods trade gap of -$88.7B, which widened by $4.1B, even as the services surplus improved to $28.4B, up $1.6B from the previous month. On the flow side, exports rose to $320.9B (+2.0% / +$6.2B), but were outpaced by imports at $381.2B (+2.3% / +$8.7B), explaining…

Here is what you need to know for Wednesday, May 6:The US Dollar Index (DXY) is trading with a neutral tone near the 98.50 area, supported by safe-haven demand and elevated US yields even after upbeat US data. Price action remains choppy amid shifting Middle East headlines. In the US, incoming data continues to show resilience. The JOLTS Job Openings edged down to 6.866 million from 6.922 million, pointing to a gradual cooling in labor demand while remaining consistent with a tight labor market. Meanwhile, the ISM Services Purchasing Managers Index (PMI) came in at 53.6, easing slightly from 54.0…

The USDCAD is down modestly on the day, slipping -0.07% after an early push higher failed to gain traction above key resistance. The pair briefly moved above its 100-hour moving average and into a swing area between 1.3620 and 1.36305, but the lack of follow-through opened the door for sellers to reassert control into the North American session.The price has since rotated back below that zone and is currently trading near 1.3613. Despite the downside bias, price action remains subdued, with a narrow 25-pip range on the day (1.3605 to 1.3630). That limited movement reflects a market still searching for…

Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is slightly firmer with USD/CAD holding near prior ranges. A softer US Dollar (USD) and firmer risk appetite are seen as mildly supportive for the CAD, while fair value has shifted lower toward 1.3424. Technicals remain bearish, with focus on a move back toward the 1.35 area.CAD supported as fair value drops”The CAD is edging a little firmer in early trade here but spot is holding close to yesterday’s ranges. A somewhat softer USD and some potential firming in risk appetite should be mildly CAD-supportive in the short…

The Reserve Bank of Australia raised its cash rate to 4.35% in an 8-1 vote, its third straight hike, as the Middle East conflict fans inflation fears. Source link

It’s a tricky moment for USD/JPY as traders adopting a more cautious approach so far today. While the yen continues to be punished by the US-Iran conflict, the dollar side of the equation is also keeping firmer as the war drags on. Adding to that now is the bond market starting to ring the alarm bells with 30-year Treasury yields crossing back above the 5% threshold.The fundamental backdrop continues to work against the yen and that is a tough landscape to go up against. And Tokyo officials surely know that very well. They have more than likely stepped into the…

USD/INR extends gains for the third successive day, trading around the fresh record high of 95.40, during the Asian hours on Tuesday. Traders will likely observe India’s HSBC Composite and Services Purchasing Managers’ Index (PMI) data to be released on Wednesday.The USD/INR pair appreciates as the US Dollar (USD) strengthens on safe-haven demand following Iran’s attack on the United Arab Emirates (UAE). CNBC reported Monday that the UAE was targeted by Iranian drones and missiles, while the US said it destroyed Iranian boats in the Strait of Hormuz. US President Donald Trump warned that Iran would be “blown off the…

The Non Repaint Zigzag Indicator MT5 solves this problem by confirming swing points only after they’ve truly formed. Unlike standard zigzag tools that recalculate and shift pivot points with each new price bar, this version locks in swing highs and lows once validated. That means traders can trust the signals they see without worrying about phantom pivots disappearing. What Makes the Non Repaint Zigzag Different Traditional zigzag indicators plot lines connecting significant price highs and lows, filtering out minor fluctuations to reveal the underlying trend structure. But here’s the catch: most zigzag tools use a “look-ahead” function. They analyze future…

The Reserve Bank of Australia raised rates for the third time in 2026, a move that could keep AUD supported much longer. But will other macro factors complicate the near-term picture? Source link

Feeling like trading the New Zealand dollar in the next trading sessions? Our Event Guide for the New Zealand Employment Report suggests the labor market numbers may come in weaker than analysts expect. But if the data surprises to the upside, the Kiwi could gain ground against its major counterparts. In that case, NZD/USD and EUR/NZD could see meaningful volatility around their key range support and resistance levels. Source link