Author: FX
USD/CAD struggles to attract any meaningful buyers and consolidates near the YTD low.US-Canada trade deal hopes underpin the CAD, though a stronger USD supports the pair.The technical setup favors bearish traders and backs the case for further depreciation.The USD/CAD pair extends its sideways consolidative price move for the second straight day on Friday and trades around the 1.3665 region during the early European session. Spot prices remain close to the year-to-date low touched on Thursday and seem vulnerable to sliding further.The Canadian Dollar (CAD) continues to draw support from reports that a trade deal between the US and Canada could…
As expected, the European Central Bank (ECB) delivered its eighth consecutive rate cut since June 2024, this time reducing the deposit rate by 25 basis points to 2.0%. The decision was virtually unanimous, with only one member (likely Austrian governor Robert Holzmann) dissenting. However, the bigger story emerged from President Christine Lagarde’s press conference, where she signaled the central bank was “getting to the end of a monetary policy cycle” and described the current policy stance as being in a “good position to navigate uncertain conditions.” Key points from the ECB: ECB cut deposit rate to 2.0% from 2.25%, main…
The US markets opened strong with a Trump-Xi call, progress in US-Canada and US-EU trade talks, and an ECB rate cut lifting risk appetite. But the party ended fast when a Trump-Musk feud sent Tesla sliding 14% and flipped sentiment from risk-on to risk off. Bitcoin fell below $101,000, gold gave up 4 week highs, and dollar weakness quickly faded as traders scrambled for safety. Here are headlines you may have missed in the last trading sessions! Headlines: Australia balance of trade for April: 5.41B (6.3B forecast; 6.9B previous) China Caixin services PMI for May: 51.1 (51.0 forecast; 50.7 previous)…
Goldman Sachs expects headline 125k in payroll growth for May jobless rate 4.2% wage growth 0.3% m/m GS say federal government hiring may drag on headline numbers due to workforce cuts-Earlier:May non-farm payrolls preview by the numbers: What does the data say-The data is due at 0830 US Eastern time: This article was written by Eamonn Sheridan at www.forexlive.com. Source link
The I-ParamonWorkTime MT4 Indicator is a powerful tool that helps traders by marking the optimal work periods right on their MetaTrader 4 charts. It highlights specific trading hours during which the market experiences higher activity and liquidity. By visually separating these active sessions from quieter times, the indicator enables traders to focus on when the market is most favorable for making moves. This clarity reduces guesswork and helps in planning trades more effectively. How Does It Work and Why is It Useful? This indicator overlays color-coded time zones on the price chart, showing exactly when trading activity tends to peak.…
Japan’s Finance Minister Katsunobu Kato, when asked about the US Treasury report on exchange rate, said that the monetary policy decision is up to the Bank of Japan. The US Treasury Department said on Thursday that the BoJ should continue to proceed with monetary tightening, arguing that doing so would support a normalization of the yen’s weakness and contribute to a more balanced trade relationship.Market Reaction:The USD/JPY pair sticks to its modest intraday gains for the second straight day and currently trades around the 143.65-143.70 region, though it remains confined in the weekly range ahead of the US Nonfarm Payrolls…
U.S. Treasury says semi-annual currency report found no major U.S. trading partners manipulated currency to gain unfair trade advantage in four quarters through December 2024No major trading partners met all three criteria for enhanced analysis during review periodMonitoring list of trading partners whose currency practices ‘merit close attention’ includes China, Japan, South Korea, Singapore, Taiwan, Vietnam, Germany, Ireland and SwitzerlandIreland, Switzerland added to monitoring list due to large bilateral trade surplus with U.S. and large global current account surplusWhile China is not labeled a currency manipulator amid yuan depreciation pressure, China stands out among trading partners for lack of transparency…
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. Eyes shift to May’s Nonfarm Payrolls figures, expected to show a slowdown in the US labor market.Here’s what to watch on Friday, June 6:The US Dollar Index (DXY) remained on the back foot throughout the Asian and European sessions. However, an improvement in risk appetite due to easing US-Sino tensions capped the DXY’s decline, and it now sits at around…
Yuanbao press release (NASDAQ:YB): Q1 Total revenues were RMB970.1 million (US$133.7 million), representing a 43.8% increase from RMB674.5 million in the same period of 2024. Net income in the first quarter of 2025 was RMB295.1 million (US$40.7 million), representing a 122.1% increase from RMB132.9 million in the same period of 2024. Source link
AI imageBeijing has confirmed that the phone call with Trump is ongoing in a brief statement:So far, we haven’t heard from Trump, who is likely to be the first person to send a message when it’s over. Keep an eye on Truth Social.The Australian and New Zealand dollars are the top performing currencies today, up around 50 pips each. Both are at the highs of the day and the Australian dollar is challenging the May peak. If that breaks, it will take us to the best level since November and I’d expect some buy stops.I fear we could get a…