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Will the Fed offer a dip-buying opportunity today for the S&P 500?
A pushback against the dovish market pricing could trigger some short-term weakness in the stock market due to overstretched positioning, but the optimism for trade deals will likely trump the negative reaction
S&P Futures
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Fxstreet
PBOC expands Gold reserves for sixth straight month in April
The latest data published by the People’s Bank of China (PBOC) showed that China continued to build its Gold reserves for a sixth month in a row in April.
CentralBanks
Gold
PBOC
Commodities
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Fxstreet
AUD/USD Price Forecast: Falls toward ascending channel lower boundary near 0.6450
The AUD/USD pair breaks its three-day winning streak, trading around 0.6480 during the European hours on Wednesday. The technical analysis of the daily chart suggests a persistent bullish bias as the pair is moving upwards within the ascending channel pattern.
Technical Analysis
Majors
AUDUSD
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Fxstreet
US-China trade talk hopes push oil higher – ING
News that the US and China will start trade talks this weekend has Brent crude trading higher, extending a relief rally in oil yesterday. Talks would be a sign of potential de-escalation in trade tensions.
Oil
China
Energy
Banks
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Fxstreet
GBP/USD expected to be between 1.3300 and 1.3400 – UOB Group
Pound Sterling (GBP) is likely to trade in a range vs US Dollar (USD), expected to be between 1.3300 and 1.3400. 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
Eurozone Retail Sales rise 1.5% YoY in March vs. 1.6% expected
The Eurozone’s Retail Sales increased 1.5% year-over-year in March, following a revised 1.9% growth in February, according to official data released by Eurostat on Wednesday. Markets estimated a 1.6% figure.
EURUSD
Eurozone
RetailSales
EconomicIndicator
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Eurozone March retail sales -0.1% vs 0.0% m/m expected
Latest data released by Eurostat - 7 May 2025
EUR
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Fxstreet
USD: Dollar rally unimpressive so far – ING
Last night's news that the US and China would begin formal trade talks on 10-11 May to de-escalate the tariff war saw the dollar briefly spike 0.4/0.5%.
Technical Analysis
Banks
DollarIndex
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Fxstreet
China: Imports come into play – Standard Chartered
China’s exports likely to plunge, but imports may also slow, mitigating the tariff impact on net exports. Import intensity has been falling due to ‘onshoring’ of production and economic rebalancing.
China
TradeBalance
Banks
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Fxstreet
US Dollar Index holds gains near 99.50 ahead of Fed decision, awaits Powell’s remarks
The US Dollar Index (DXY), which tracks the value of the US Dollar (USD) against a basket of six major currencies, is trading around 99.50 during European hours on Wednesday, rebounding after losing over 0.50% in the previous session.
DollarIndex
UnitedStates
Macroeconomics
Majors
Fed
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EURUSD consolidates at a key support zone as we await the next catalyst
The EURUSD pair hasn't done much for almost a month as the market continue to wait for the next key catalyst to pick a direction
EUR
USD
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Fxstreet
GBP: Trade deals can help – ING
Sterling is trading steadily, but politics should be supportive this month. We've already seen a new UK-Indian trade deal announced yesterday, but speculation is rising that a US-UK trade deal could be reached this week, ING's FX analyst Chris Turner notes.
Technical Analysis
Banks
GBPUSD
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Fxstreet
EUR/USD likely to trade between 1.1290 and 1.1390 – UOB Group
Price action did not result in any increase in either downward or upward momentum; Euro (EUR) is likely to trade between 1.1290 and 1.1390 vs US Dollar (USD).
Technical Analysis
EURUSD
Banks
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UK April construction PMI 46.6 vs 45.8 expected
Latest data released by S&P Global - 7 May 2025
GBP
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Fxstreet
EUR: Weakened Merz doesn't do too much damage – ING
It's been quite an attractive story to tell that if German fiscal expansion caused the EUR/USD exchange rate to rise significantly in March (from 1.04 to 1.09), then a weakened Friedrich Merz should see EUR/USD fall a few figures back, ING's FX analyst Chris Turner notes.
Technical Analysis
EURUSD
Banks
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Fxstreet
USD/CHF rises above 0.8250 as traders expect Fed to leave rates unchanged
USD/CHF halts its three-day losing streak, hovering around 0.8250 during Wednesday’s European session as the US Dollar (USD) gains traction.
Majors
USDCHF
SNB
Switzerland
Macroeconomics
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China gold reserves rise for sixth straight month
The PBOC continues to steadily increase its gold holdings
Gold
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Fxstreet
EUR/USD trades flat with Fed’s monetary policy on the horizon
EUR/USD flattens near 1.1370 during North American trading hours on Wednesday. The major currency pair consolidates as the US Dollar (USD) trades flat ahead of the Federal Reserve’s (Fed) monetary policy announcement at 18:00 GMT.
ECB
China
EURUSD
Fed
SEO
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The market could be dead wrong on rate cuts if this scenario plays out
Trade negotiations are key and will be the main factor in interest rates repricing
market overview
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Fxstreet
China: Meeting with the US on trade is at the US' request
Headlines crossed from China on Wednesday, with Beijing clarifying that the “meeting with the US on trade is at the US' request.”
China
TradeWar
UnitedStates
DollarIndex
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Germany April construction PMI 45.1 vs 40.3 prior
Latest data released by HCOB - 7 May 2025
EUR
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Forex Live
China reaffirms that its position on talks has not changed
Further remarks by the Chinese commerce ministry
CNY
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Forex Live
How China has been preparing itself ahead of this tariffs eventuality with the US
China had been making moves since the turn of the year already
CNY
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Forex Live
China says meeting with the US on trade is at the US' request
Beijing making sure the world knows that it is not the one who blinked first
CNY
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Forex Live
European equities lightly lower to start the session
Hope for US-China de-escalation is not quite leading to a glow in the broader risk mood
Stocks
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Fxstreet
EUR/INR today: Indian Rupee cross rates mixed at the start of the European session
Indian Rupee (INR) crosses trade mixed at the start of Wednesday, according to FXStreet data. The Euro (EUR) to the Indian Rupee changes hands at 96.27, with the EUR/INR pair rising from its previous close at 95.85.
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Fxstreet
Forex Today: All eyes on Fed rate decision, Powell presser
Here is what you need to know on Wednesday, May 7:
Currencies
Majors
EconomicIndicator
Commodities
Macroeconomics
News Discussion Forum
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Fxstreet
Palladium price today: Rare metals down at the start of the European session
Platinum Group Metals (PGMs) trade with a negative tone at the beginning of Wednesday, according to FXStreet data. Palladium (XPD) changes hands at $973.20 a troy ounce, with the XPD/USD pair easing from its previous close at $978.15.
Metals
Palladium
Commodities
News Discussion Forum
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Forex Live
France March trade balance -€6.25 billion vs -€7.87 billion prior
Latest data released by the French MOF - 7 May 2025
EUR
News Discussion Forum
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Fxstreet
FX option expiries for May 7 NY cut
FX option expiries for May 7 NY cut at 10:00 Eastern Time via DTCC can be found below.
Currencies
EURUSD
Options
News Discussion Forum
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Forex Live
What are the main events for today?
The FOMC policy decision is the only highlight
market overview
News Discussion Forum
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Fxstreet
Crude Oil price today: WTI price bullish at European opening
West Texas Intermediate (WTI) Oil price advances on Wednesday, early in the European session. WTI trades at $59.35 per barrel, up from Tuesday’s close at $58.71.
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Forex Live
Eurostoxx futures +0.1% in early European trading
Light changes in Europe ahead of the open
Stocks
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Fxstreet
German Factory Orders jump 3.6% MoM in March vs. 1.3% expected
The official data published by the Federal Statistics Office showed Wednesday that Germany's Factory Orders jumped more than expected in March, suggesting that the country’s manufacturing sector has picked up momentum.
Manufacturing
EURUSD
Germany
EconomicIndicator
IndustrialProduction
News Discussion Forum
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Forex Live
Germany March industrial orders +3.6% vs +1.3% m/m expected
Latest data released by Destatis - 7 May 2025
EUR
News Discussion Forum
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Fxstreet
EUR/USD Price Forecast: Tests support around 1.1350, upside appears due to bullish bias
EUR/USD retraces its recent gains from the previous session, hovering near 1.1360 during Wednesday’s Asian session. Technical analysis on the daily chart continues to show a bullish bias, with the pair staying within an ascending channel pattern.
News Discussion Forum
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Fxstreet
GBP/USD Price Forecast: Slides to mid-1.3300s amid some USD buying ahead of Fed decision
The GBP/USD pair attracts some sellers during the Asian session on Wednesday and erodes a part of its weekly gains registered over the past two days, to the 1.3400 mark. The intraday slide is sponsored by a modest US Dollar (USD) strength and drags spot prices below mid-1.3300s in the last hour.
Technical Analysis
Currencies
Fed
GBPUSD
News Discussion Forum
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Fxstreet
China’s President Xi: We must firmly maintain post-war international order
Chinese President Xi Jinping said on Wednesday, “we must firmly maintain post-war international order.”
China
Politics
AUDUSD
Macroeconomics
News Discussion Forum
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Fxstreet
China’s President Xi: We must firmly maintain post-war international order
Chinese President Xi Jinping said on Wednesday, “we must firmly maintain post-war international order.”
China
Politics
AUDUSD
Macroeconomics
News Discussion Forum
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Forex Live
China president Xi: We must firmly maintain post-war international order
Speak of the devil
CNY
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