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Stocks still higher but trading at session lows
S&P and NASDAQ indices tested their 200 hour moving averages and found willing sellers
Stocks
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Fxstreet
Dow Jones soars close to 500 points as Trump calms Powell firing fears, China tariff relief eyed
The Dow Jones Industrial Average (DJIA) rallied over 490 points or close to 1.30% on Wednesday amid traders' relief on a possible de-escalation of the US-China trade war and US President Donald Trump's comment that he doesn’t plan to remove Federal Reserve (Fed) Chair Jerome Powell.
DowJones
Equities
Fed
SEO
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Fxstreet
EUR/GBP Price Analysis: Pair trades near 0.8600 amid neutral short-term signals
The EURGBP pair eased slightly on Wednesday, slipping toward the lower end of its recent consolidation range after the European session. The pair was last seen hovering near the 0.8600 area, reflecting a mild pullback within a still-bullish technical setup.
Crosses
Technical Analysis
Currencies
EURGBP
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ECB's Knot: A US tariff of 25% on imports would lower GDP by about 0.3 pp
Knot says it would lower it more with retaliation
ECB
EUR
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Fxstreet
US Treasury Secretary Bessent: No unilateral tariff cuts for China
On Wednesday, United States (US) Treasury Secretary Scott Bessent crossed the wires to discuss the trade war between China and his country. He commented that President Donald Trump has not offered to unilaterally lower tariffs on China.
China
UnitedStates
Politics
AUDUSD
DollarIndex
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World Bank cuts Mexico 2025 GDP forecast to 0% from 1.5%
That's a harsh downgrade
MXN
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Forex Live
GBPUSD dips back toward the 200 hour MA
The rising 200-hour MA comes in at 1.32573
GBP
USD
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Finance Magnates
New Eurex Futures to Offer Hedging Tool for European Union Bonds
Eurex has announced it will launch futures on EU bonds starting in September. The new instrument aims to give traders a way to hedge exposure or gain market access and comes at a time when interest...
Eurex
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Fxstreet
EUR/USD Price Analysis: Edges lower toward 1.1400 zone despite bullish trend structure
The EUR/USD pair eased lower on Wednesday, retreating slightly toward the 1.1400 zone after a recent bullish streak.
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Forex Live
Why China's Xi will not call Trump
Xi doesn't do the calling
Politics
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Forex Live
Bessent: No unilateral offer from Trump to cut China tariffs
Some comments from Bessent and initial downside in stock markets
Politics
USD
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Forex Live
EURUSD breaks below 200 hour MA
Key support down at 1.0271 – 1.1275
EUR
USD
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Fxstreet
GBP/USD slips beneath 1.3300 as USD gains on Powell relief and trade optimism
The Pound Sterling (GBP) depreciates against the Greenback on Wednesday, yet slightly recovered after diving to four-day lows of 1.3230. Traders seemed relieved that US President Donald Trump, although angry with Federal Reserve (Fed) Chair Powell, is not looking to sack him.
Currencies
Fed
Majors
GBPUSD
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Canadian travel to US shows shows a steep decline
Statistics Canada released February travel data
CAD
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US crude oil inventory 0.224M vs -0.770M est
Weekly crude oil data
Oil
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Fxstreet
US: How much revenue can tariffs bring? – Standard Chartered
Tariff revenue won't compensate for the fiscal costs of TCJA extensions. Added tariff revenues will be below 1% of GDP – most likely 0.5-0.9% of GDP. Unfunded tax cuts could put further upward pressure on US rates, Standard Chartered's analysts report.
US Elections
UnitedStates
Politics
Banks
Macroeconomics
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Fxstreet
CAD unruffled by overnight swings, holds range – Scotiabank
The Canadian Dollar (CAD) is little changed on the day as spot continues to consolidate.
Technical Analysis
Canada
BOC
USDCAD
Banks
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Fxstreet
GBP jostled by sentiment, headline risks – Scotiabank
The Pound Sterling (GBP) weakens and enters Wednesday’s American session with a modest decline, trading in tandem with the Euro (EUR), around the Trump trade/Fed headlines, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Technical Analysis
Banks
GBPUSD
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Finance Magnates
Revolut’s EU Trading Unit Gains MiFID II Upgrade from Lithuania Following €3.5 Million Fine
Revolut Securities Europe UAB (RSEUAB), the European trading subsidiary of Revolut, has received a license upgrade from the Bank of Lithuania.
revolut
fintech
Lithuania
MiFID II
MiFID2
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White House would look at lowering tariffs pending talks with Beijing
White House is putting the ball in China's court
USD
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Forex Live
Several OPEC+ members want the group to approve another accelerated oil output increase
Crude oil prices move lower
Oil
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Forex Live
US new home sales for March 0.724M vs 0.680M estimate
New home Sales for March 2025
USD
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Fxstreet
Silver Price Forecast: XAG/USD jumps to near $33 as US-China trade tensions ease
Silver price (XAG/USD) trades firmly around $33.00 during North American trading hours on Wednesday. The white metal strengthens as fears of an intense trade war between the United States (US) and China have diminished after President Donald Trump signaled the possibility of a deal with Beijing.
Silver
SupportResistance
TradeWar
Fed
XAGUSD
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S&P global manufacturing PMI for April 50.7 versus 49.1 estimate.
S&P global manufacturing and services PMI data for April 2025.
Stocks
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Fxstreet
White House considers slashing China tariffs to de-escalate trade war – WSJ
The Wall Street Journal reported on Wednesday that the White House is considering slashing tariffs on Chinese goods to de-escalate the trade conflict.
China
UnitedStates
Politics
Macroeconomics
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White House reportedly mulling cutting China tariffs to de-escalate trade war
According to the Wall Street Journal sources
USD
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Fed's Goolsbee: Increase in productivity seeming to be a tech driven boom
Chicago Fed Pres. Goolsbee is speaking
Fed
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Fxstreet
JPY fades as sentiment recovers – Scotiabank
Japanese Yen (JPY) is soft, down 0.2% against the US Dollar (USD) and underperforming most of the G10 currencies, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Technical Analysis
BOJ
Japan
USDJPY
Banks
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Canada March new housing price index 0.0% vs +0.1% prior
Canada new housing price index
CAD
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Finance Magnates
CME Group FX Volumes Jump 17% as Q1 Revenue Hits Record $1.6 Billion
CME Group Inc. (NASDAQ: CME ) reported a significant surge in foreign exchange (Forex) trading volumes as part of its record-breaking first quarter performance, with FX volumes jumping 16.
cme
CME Group
Q1 2025
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Fxstreet
EUR consolidated around 1.14 – Scotiabank
The Euro (EUR) is soft and entering Wednesday’s NA session with a modest decline against the US Dollar (USD), having recovered from a short-lived bout of early Asian session weakness, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Technical Analysis
EURUSD
Banks
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Forex Live
Reuters poll BOE to cut rate by 25 basis points each quarter to 3.75% EOY 2025
Economist expected 25 basis point cut at the May 8 meeting
BOE
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Forex Live
U.S. budget deficit projected to fall to 6.5% of GDP in 2025 due to tariff collection...
...and 5.5% in 2026. That is down from 7.3% in 2024.
USD
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Finance Magnates
Why Is XRP Rising? Teucrium CEO Says It Has Greater Use Case Than Bitcoin
Teucrium CEO Sal Gilbertie has publicly highlighted the utility of the XRP token, calling it the cryptocurrency with the highest level of practical use.
ripple. xrp
XRP
XRP News
Ripple News
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Fxstreet
USD consolidates as trade/Fed concerns ease – Scotiabank
Markets are trading with a sense of relief this morning. Late yesterday, President Trump said he had no intention of firing Fed Chair Powell and remarked that the 145% tariffs on China could be reduced substantially following a trade deal.
Technical Analysis
Fed
Banks
DollarIndex
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Finance Magnates
Monex Acquires 20% of Boston-Based Westfield Capital in Push Into U.S. Asset Management
Japan’s Monex Group has acquired a 20% stake in Boston-based Westfield Capital Management, a step the company aims to deepen its presence in the US asset management space.
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Forex Live
USDCHF rally stalls at key Fibonacci resistance after Trump-Powell boost
After reclaiming the 200-hour MA, USDCHF tests and rejects 38.2% retracement; focus shifts to 0.82307–0.82399 swing zone with buyers and sellers battling near key moving averages.
After reclaiming the 200-hour MA, USDCHF tests and rejects 38.2% retracement; focus shifts to 0.82307–0.82399 swing zone with buyers and sellers battling near key moving averages.
CHF
USD
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