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Germany's AfD backs new vote for chancellor on Wednesday
Reuters with the report
EUR
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OPEC+ goes with another big supply hike – ING
OPEC+ is implementing another aggressive supply hike. Effective in June, this increase solidifies a shift in policy. With prospects of further large supply increases in the months ahead, we revised our oil forecasts lower, ING's commodity expert Warren Patterson notes.
Oil
OPEC
Energy
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Oil struggles as OPEC+ sticks to output hikes – Danske Bank
Oil prices remain under pressure after OPEC+ confirmed a third consecutive monthly output hike, reinforcing bearish sentiment in a market already unsettled by global trade tensions and geopolitical risks, Danske Bank's FX analysts report.
Oil
OPEC
Energy
Banks
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USD: What the TWD is telling us – ING
The most notable development in FX over the past few days has been the exceptional rally in the Taiwanese dollar, and to a lesser extent in other Asian currencies (MYR, THB, KRW).
Banks
DollarIndex
Technical Analysis
USDCNH
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Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Tuesday, according to FXStreet data.
Silver
Commodities
Metals
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Is the Swiss National Bank getting nervous? – Commerzbank
Yesterday's Swiss inflation figures for April are likely to have heightened the concerns of the Swiss National Bank (SNB) once again.
Technical Analysis
Inflation
SNB
Banks
Switzerland
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AUD/USD: Likely to trade in a range between 0.6420 and 0.6485 – UOB Group
Australian Dollar (AUD) is likely to trade in a range between 0.6420 and 0.6485 vs US Dollar (USD). In the longer run, further AUD strength is not ruled out, but it must first break clearly above 0.6510, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
AUDUSD
Technical Analysis
Banks
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President Xi: China and EU should oppose unilateral bullying
Chinese President Xi Jinping said on Tuesday that “China and the European Union (EU) should oppose unilateral bullying.”
China
TradeWar
Eurozone
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Gold hits two-week high on German political turmoil
Gold (XAU/USD) hits $3,387 at the time of writing, printing a fresh two-week high as geopolitical tensions around the globe continue to support investors’ demand for safe-haven assets.
TradeWar
UnitedStates
SEO
Gold
Commodities
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USD/CAD Price Forecast: Trades near 1.3800 after retreating from levels near nine-day EMA
The USD/CAD pair is retracing its recent gains from the previous session, trading around 1.3820 during the European hours on Tuesday. The daily chart's technical analysis suggested a sustained bearish sentiment, as the pair continues to trade within a descending channel pattern.
Technical Analysis
USDCAD
Majors
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GBP: Widely expect BoE cut this week – ING
EUR/GBP seems to be attracting buyers around the 0.850 level and is awaiting another clear-cut GBP bullish catalyst for a break lower, ING's FX analyst Francesco Pesole notes.
Technical Analysis
EURGBP
Banks
GBPUSD
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Eurozone March PPI -1.6% vs -1.6% m/m expected
Latest data released by Eurostat - 6 May 2025
EUR
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An early preview of the Bank of England meeting – Commerzbank
Reports emerged yesterday morning that the Bank of England (BoE) may lower its inflation and growth forecasts at Thursday's meeting and remove the reference to 'gradual' interest rate cuts from its statement.
Technical Analysis
UnitedKingdom
BOE
Banks
GBPUSD
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GBP/USD: Any decline is unlikely to reach 1.3230 – UOB Group
Tentative buildup in momentum suggests Pound Sterling (GBP) is likely to trade with a downward bias vs US Dollar (USD); any decline is unlikely to reach 1.3230.
Technical Analysis
Banks
GBPUSD
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German parliament reportedly won't be going ahead with another chancellor vote today
No second round of voting for today at least
Politics
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EUR: Overvaluation can't be unseen – ING
There are no major data releases in the eurozone calendar this week, with the focus on some ECB speakers instead. Today, arch-dove Panetta speaks at an event in Asia.
Technical Analysis
EURUSD
Banks
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EUR/USD: Any decline is likely limited to a test of 1.1280 – UOB Group
Euro (EUR) is under mild downward pressure against the US Dollar (USD) and is likely to edge lower; any decline is likely limited to a test of 1.1280.
Technical Analysis
EURUSD
Banks
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Difficult situation for Asian countries outside China – Commerzbank
It was probably only a matter of time before reports began to emerge that Chinese companies were trying to reroute their goods through other Asian countries for export to the US.
China
Asia
PBOC
Banks
Macroeconomics
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UK April final services PMI 49.0 vs 48.9 prelim
Latest data released by S&P Global - 6 May 2025
GBP
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China's Xi: China and EU should oppose unilateral bullying
Xinhua reporting President Xi's remarks
CNH
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German stocks fall as political uncertainty creeps in
The DAX is now down 0.9% on the day
Stocks
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US Dollar Index falls to near 99.50 as 2-year Treasury yield drops over half a percent
The US Dollar Index (DXY), which measures the US Dollar (USD) against a basket of six major currencies, is depreciating after registering gains in the previous session, trading near 99.60 during the European hours on Tuesday.
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EUR/USD gains at US Dollar's expense, German Merz fails to secure majority in Bundestag
EUR/USD moves higher to near 1.1360 in Tuesday’s North American session. The major currency pair gains as the US Dollar (USD) slumps ahead of the Federal Reserve’s (Fed) interest rate decision, which will be announced on Wednesday.
ECB
China
EURUSD
Fed
SEO
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Merz falls short of majority needed to become German chancellor in first voting round
316 votes was supposed to be the magic number
EUR
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Eurozone April final services PMI 50.1 vs 49.7 prelim
Latest data released by HCOB - 6 May 2025
EUR
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EU’s Sefcovic: Proposed 0 for 0 tariffs on industrial goods
European Union (EU) Trade Commissioner Maros Sefcovic said on Tuesday that they have “proposed 0 for 0 tariffs on industrial goods.”
EURUSD
TradeWar
Eurozone
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SNB's Schlegel: We haven't ruled out negative interest rates
Further remarks by SNB chairman, Martin Schlegel
SNB
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Germany April final services PMI 49.0 vs 48.8 prelim
Final data released by HCOB - 6 May 2025
EUR
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SNB's Schlegel: We remain committed to our mandate of price stability
Swiss National Bank (SNB) Chairman Martin Schlegel said on Tuesday that “we remain committed to our mandate of price stability.”
CentralBanks
InterestRate
USDCHF
SNB
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France April final services PMI 47.3 vs 46.8 prelim
Latest data released by HCOB - 6 May 2025
EUR
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Forex Live
Italy April services PMI 52.9 vs 51.5 expected
Latest data released by HCOB - 6 May 2025
EUR
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EU Trade Commissioner Sefcovic: Proposed 0 for 0 tariffs on industrial goods
Remarks by the EU's Trade Commissioner, Maros Sefcovic
EUR
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Fxstreet
Forex Today: Major pairs stabilize as focus shifts to central banks
Here is what you need to know on Tuesday, May 6:
Currencies
Majors
EconomicIndicator
Commodities
Macroeconomics
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SNB's Schlegel: We remain committed to our mandate of price stability
Remarks by SNB chairman, Martin Schlegel
SNB
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EUR/GBP holds position above 0.8500 ahead of PMI data from Eurozone, UK
EUR/GBP retraces its recent losses from the previous session, trading around 0.8510 during the early European hours on Tuesday.
Crosses
Eurozone
UnitedKingdom
EURGBP
Macroeconomics
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Spain April services PMI 53.4 vs 54.0 expected
Latest data released by HCOB - 6 May 2025
EUR
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China says would welcome EU leaders to visit in a timely manner to hold new round of talks
Today marks 50 years in which China and the EU established diplomatic relations
CNY
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European indices little changed to kick start the day
A steadier mood but US futures are still slightly lower
Stocks
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EUR/INR: Indian Rupee cross rates edge higher at the start of the European session
Indian Rupee (INR) crosses trade on the front foot at the beginning of Tuesday, according to FXStreet data. The Euro (EUR) to the Indian Rupee changes hands at 95.65, with the EUR/INR pair rising from its previous close at 95.38.
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Palladium price: Rare metals advance at the start of the European session
Platinum Group Metals (PGMs) trade with a positive tone at the beginning of Tuesday, according to FXStreet data. Palladium (XPD) changes hands at $949.65 a troy ounce, with the XPD/USD pair advancing from its previous close at $947.60.
Metals
Palladium
Commodities
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