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Fxstreet
USD/CHF rises above 0.8250 as Fed sees no rush to interest rate cuts
The USD/CHF pair moves higher above 0.8250 during European trading hours on Thursday. The Swiss Franc pair gains as the US Dollar (USD) trades higher after the Federal Reserve (Fed) signaled that it is in no hurry to lower interest rates.
Fed
UnitedStates
InterestRate
USDCHF
SNB
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Fxstreet
USD/JPY is still consolidating – UOB Group
Bias for US Dollar (USD) is tilted to the upside vs Japanese Yen (JPY), with scope for a test of 144.30. In the longer run, USD is still consolidating; moderating price swings point to a tighter range of 142.20/145.30, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
USDJPY
Banks
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Fxstreet
USD/JPY breaks above 144.00 after dovish BoJ minutes – BBH
USD/JPY has firmed above 144.00 as dovish BoJ signals and downgraded forecasts reinforce the view that Japan’s rate hike cycle is near its end, BBH FX analysts report.
Technical Analysis
BOJ
USDJPY
Banks
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Fxstreet
NZD/USD: Likely to trade between 0.5890 and 0.6030 – UOB Group
Sharp drop appears overdone, but New Zealand Dollar (NZD) could decline to 0.5920 against US Dollar (USD) before stabilisation is likely.
Technical Analysis
Banks
NZDUSD
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Fxstreet
BoE expected to cut to 4.25% amid trade war risks – Danske Bank
The BoE is expected to deliver a 25bps rate cut and a dovish tone, with EUR/GBP likely to rise as inflation undershoots and growth concerns persist, Danske Bank's FX analysts report.
UnitedKingdom
BOE
EURGBP
Banks
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Forex Live
Crude oil looks to be bottoming out as the first trade deals come into focus
It's been an awful month for the crude oil market amid higher supply and lower demand fears, but the conditions might be changing...
Oil
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Forex Live
Trump says agreement with UK is a full and comprehensive one
Further tweet by the US president
Politics
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Fxstreet
GBP rises on hopes of UK-US trade deal – BBH
GBP is outperforming most major currencies. The prospect of a UK-US trade deal significantly reduces the downside risk to UK economic activity, BBH FX analysts report.
UnitedKingdom
BOE
Banks
GBPUSD
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Fxstreet
Fed stays put, sends expected “No Rush” message – Danske Bank
With the Fed's 'lack of urgency'-signal being in line with expectations the market reaction proved very limited upon announcement, Danske Bank's FX analysts report.
EURUSD
Fed
Banks
DollarIndex
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Fxstreet
EUR/NOK rejected at key multiyear resistance – Société Générale
EUR/NOK is retreating after a failed breakout above 12.05, with focus shifting to support near the 50-DMA and downside targets at 11.60 and 11.45, Société Générale's FX analysts note.
Technical Analysis
EURNOK
Norway
Banks
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Fxstreet
GBP/USD stalls near key channel resistance – Société Générale
The GBP/USD rally is showing signs of fatigue near major resistance at 1.3430–1.3500, with momentum fading and key support at 1.3230 now under close watch, Société Générale's FX analysts note.
Technical Analysis
Banks
GBPUSD
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Fxstreet
The Fed is waiting for now – Commerzbank
As expected, the Fed left interest rates unchanged yesterday. At the same time, Fed Chairman Jerome Powell was keen to stress that the Fed is in no hurry to cut rates.
Fed
Inflation
InterestRate
Banks
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Forex Live
UK believed to have made concessions on food, agriculture in exchange for lower tariffs
Sky News business correspondent, Paul Kelso, reports
Politics
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Fxstreet
EUR/USD ticks lower as Fed signals no rush for rate cuts
EUR/USD ticks lower below 1.1300 during European trading hours on Thursday.
ECB
EURUSD
Fed
Eurozone
SEO
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Fxstreet
China keeps adding Gold to its reserves – ING
China expanded its Gold reserves for a sixth straight month in April, ING's commodity experts Ewa Manthey and Warren Patterson note.
XAUUSD
Metals
Gold
Commodities
Banks
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Forex Live
Trump talks up "very big and exciting day" for the US and UK ahead of announcement later
The US president is up and awake early today
market overview
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Fxstreet
AUD/USD: Likely to trade in a lower range of 0.6400/0.6470 – UOB Group
Rather than sustaining its downward momentum, Australian Dollar (AUD) is more likely to trade in a lower range of 0.6400/0.6470.
Technical Analysis
Banks
AUDUSD
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Fxstreet
Choppy session for oil – ING
It was a choppy session for the oil market yesterday. Initially, Brent rallied amid growing hopes of de-escalation in trade tensions between China and the US, with talks set to start this weekend, ING's commodity experts Ewa Manthey and Warren Patterson note.
Oil
Energy
Brent
Commodities
Banks
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Fxstreet
USD: Dollar to take its cue from the US-UK trade deal – ING
Following a social media post from President Trump last night that a major trade deal would be announced at 16CET/10ET today, speculation is rife that it will be a US-UK agreement.
Technical Analysis
Banks
DollarIndex
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Fxstreet
Silver price today: Silver falls, according to FXStreet data
Silver prices (XAG/USD) fell on Thursday, according to FXStreet data.
Silver
Commodities
Metals
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Fxstreet
UK and US have reached a "heads of terms" trade agreement – Sky News
Citing confirmation from a British government source, Sky News reported on Thursday that the UK and the US have reached a "heads of terms" agreement and a "substantive" step towards a full trade deal.
TradeWar
UnitedStates
UnitedKingdom
GBPUSD
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Fxstreet
USD/CAD Price Forecast: Remains confined in a multi-week-old range; not out of the woods yet
The USD/CAD pair attracts buyers for the second successive day on Thursday and recovers further from the year-to-date (YTD) low, around the mid-1.3700s touched earlier this week.
Currencies
TradeWar
Fed
USDCAD
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Fxstreet
GBP/USD remains below 1.3335 – UOB Group
Provided Pound Sterling (GBP) remains below 1.3335 against US Dollar (USD), it could edge lower to 1.3265. In the longer run, the current price movements are part of a 1.3240/1.3450 range-trading phase, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
Banks
GBPUSD
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Fxstreet
UK PM Starmer: You will hear more from me later today on US economic deal
UK Prime Minister (PM) Keir Starmer said on Thursday, “you will hear more from me later today on the US economic deal.”
TradeWar
UnitedStates
UnitedKingdom
GBPUSD
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Forex Live
UK and US have agreed on terms for trade deal - report
Sky News reports, citing confirmation from a government source
Politics
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Fxstreet
AUD/JPY rises toward 93.00, rebounds due to easing safe-haven demand
AUD/JPY snaps a three-day losing streak and trades around 92.90 during European hours on Thursday, buoyed by waning demand for safe-haven assets like the Japanese Yen (JPY).
AUDJPY
Crosses
Macroeconomics
Japan
Australia
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Fxstreet
GBP: We're not as dovish as some on the BoE – ING
Today's Bank of England meeting should be a market mover, ING's FX analyst Chris Turner notes.
Technical Analysis
BOE
Banks
GBPUSD
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Fxstreet
EUR/USD is tilted to the downside – UOB Group
Bias for Euro (EUR) is tilted to the downside vs US Dollar (USD); any decline is likely limited to a test of 1.1280. In the longer run, current price movements are likely part of a consolidation phase between 1.1225 and 1.1410, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
EURUSD
Banks
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Fxstreet
EUR: Are long positions getting stale? – ING
EUR/USD has drifted lower to test support at 1.1300 today, ING's FX analyst Chris Turner notes.
Technical Analysis
EURUSD
Banks
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Forex Live
The US Dollar extends gains against the JPY on positive sentiment
The announcement of the outline for a trade deal with the UK is giving the greenback a boost as overstretched short positions get unwound
JPY
USD
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Forex Live
UK PM Starmer: You will hear more from me later today on US economic deal
Well, if it wasn't already clear, the deal is defintely with the UK
GBP
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Fxstreet
NZD/USD Price Forecast: Remains below nine-day EMA near 0.5950 psychological resistance
The NZD/USD pair extends losses for the second successive session, trading around 0.5930 during European hours on Thursday. The technical analysis of the daily chart indicates a weakening bullish bias, as the pair trades further below the ascending channel pattern.
Technical Analysis
Majors
NZDUSD
News Discussion Forum
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Fxstreet
Gold price sees retreat on the back of US-UK trade deal breakthrough
Gold (XAU/USD) slips to $3,340 at the time of writing on Thursday, a smaller-than 1% correction in safe haven outflow, with United States (US) President Donald Trump expected to announce a trade deal agreement with the United Kingdom (UK) at a news conference at 14:00 GMT in Washington, according to
TradeWar
UnitedStates
SEO
Gold
Commodities
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Fxstreet
Pound Sterling gains after BoE cuts interest rates to 4.25%, guides gradual easing
The Pound Sterling (GBP) attracts bids against its peers in Thursday’s European session after the Bank of England’s (BoE) hawkish interest rate cut decision.
Fed
SEO
BOE
InterestRate
GBPUSD
News Discussion Forum
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Fxstreet
EUR/GBP remains subdued around 0.8500 due to US-UK trade deal hopes, BoE decision in focus
EUR/GBP is extending losses for the fourth consecutive session, trading near 0.8500 in early European hours on Thursday.
Crosses
Eurozone
UnitedKingdom
EURGBP
Macroeconomics
News Discussion Forum
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Fxstreet
Forex Today: US Dollar rebounds after Fed, attention turns to BoE
Here is what you need to know on Thursday, May 8:
Currencies
Majors
EconomicIndicator
Commodities
Macroeconomics
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Forex Live
China's MOFCOM: US needs to be prepared to revoke unilateral tariffs
Comments from the Chinese Ministry of Commerce
Politics
News Discussion Forum
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Forex Live
European equities hold higher at the open today
Stocks stay buoyed by trade optimism to start the session
Stocks
News Discussion Forum
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Fxstreet
US Dollar Index advances to near 100.00 due to Fed caution, Initial Jobless Claims eyed
The US Dollar Index (DXY), which measures the US Dollar (USD) against a basket of six major currencies, is extending gains for a second straight session, hovering near 100.00 at the time of writing. The DXY may continue to gain ground amid the Federal Reserve’s (Fed) cautious policy stance.
Resources
UnitedStates
Majors
Macroeconomics
DollarIndex
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Forex Live
China president Xi arrives in Kremlin for talks with Putin
Be on the lookout for comments by Xi and/or Putin later in the day
Politics
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