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ICSG expects Copper surplus to persist – ING
In its latest forecasts, the International Copper Study Group (ICSG) expects the global Copper market to see a supply surplus of 289kt in 2025, largely on higher mine supply and rising smelting capacity, compared to the 194kt of surplus projected earlier and 138kt of surplus seen last year.
Metals
Copper
Commodities
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US Dollar Index advances to near 99.50 as US yields rebound ahead of Core PCE data
The US Dollar Index (DXY), which tracks the US Dollar (USD) against a basket of six major currencies, extends its gains for a second consecutive day, trading near 99.40 during Wednesday’s European session.
UnitedStates
Majors
Macroeconomics
DollarIndex
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Australia: Pencilling in a rate cut by RBA in May – Standard Chartered
Q1 trimmed mean CPI fell into the RBA’s 2-3% target range for the first time since end-2021. The growth/stability trade-off likely favours more RBA cuts amid growth headwinds posed by US tariffs.
Australia
RBA
Inflation
InterestRate
Banks
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Eurozone Preliminary GDP rises 0.4% QoQ in Q1 vs. 0.2% expected
The Eurozone economy expanded by 0.4% in the three months to March of 2025 after growing by 0.2% in the fourth quarter of 2024, the preliminary estimate released by Eurostat showed Wednesday.
Eurozone
EconomicIndicator
GDP
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USD: The worse the data, the better? – Commerzbank
Yesterday saw the next round of poor sentiment indicators from the US. According to the Conference Board, US consumer confidence fell to its lowest level since the start of the coronavirus pandemic.
DollarIndex
Banks
Technical Analysis
Fed
US Elections
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Italy April preliminary CPI (HICP) +2.1% vs +2.3% y/y expected
Latest data released by Istat - 30 April 2025
EUR
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Eurozone Q1 preliminary GDP +0.4% vs +0.2% q/q expected
Latest data released by Eurostat - 30 April 2025
EUR
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USD/CAD ticks higher amid bearish Oil prices, remains below mid-1.3800s ahead of US data
The USD/CAD pair extends its sideways consolidative price move through the first half of the European session on Wednesday and remains confined in a familiar range held over the past two weeks.
Currencies
TradeWar
Fed
USDCAD
EconomicIndicator
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President Xi: China needs to adapt to changing situations
Speaking at a symposium on economic development on Wednesday, Chinese President Xi Jinping said that “China needs to adapt to changing situations.”
China
AUDUSD
Macroeconomics
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China's Xi: China needs to adapt to changing situations
President Xi is holding symposium on economic development
CNH
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High inventory adds pressure on oil – ING
The oil market continued to decline for a third straight session this morning, ING's commodity experts Ewa Manthey and Warren Patterson note.
Oil
Energy
Brent
Banks
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USD: Equities providing shield against bad data – ING
The US Dollar (USD) continues to be pulled by opposing forces: US President Donald Trump’s scaling back of some protectionism measures versus data evidence of a US slowdown. Ultimately, the tiebreak for FX impact seems to be equities performance.
Technical Analysis
Fed
Banks
DollarIndex
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EUR/JPY holds ground near 162.50 following key economic data from Germany
EUR/JPY halts its two-day losing streak, trading around 162.40 during the European session on Wednesday. The currency cross holds ground following the release of key economic data from Germany.
Crosses
Eurozone
Japan
EURJPY
Macroeconomics
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German Preliminary GDP expands 0.2% QoQ in Q1, as expected
The German economy expanded by 0.2% over the quarter in the first quarter of 2025, following a 0.2% contraction in the final quarter of 2024, according to the preliminary data published by Destatis on Wednesday. Markets expected a 0.2% growth in the reported period.
GDP
EURUSD
Germany
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Switzerland UBS April investor sentiment -51.6 vs -10.7 prior
Latest data released by UBS - 30 April 2025
CHF
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Italy Q1 preliminary GDP +0.3% vs +0.2% q/q expected
Latest data released by Istat - 30 April 2025
EUR
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Germany Q1 preliminary GDP +0.2% vs +0.2% q/q expected
Latest data released by Destatis - 30 April 2025
EUR
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Bavaria April CPI +2.1% vs +2.3% y/y prior
Latest data released by Destatis - 30 April 2025
EUR
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Pound Sterling slumps against US Dollar despite US economic turbulence
The Pound Sterling (GBP) extends correction to near 1.3310 against the US Dollar (USD) in Wednesday’s North American session from its fresh three-year high of 1.3445 posted on Tuesday.
GDP
SEO
Inflation
BOE
GBPUSD
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Germany April unemployment change 4k vs 15k expected
Latest data released by the Federal Employment Agency - 30 April 2025
EUR
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NZD/USD Price Forecast: Falls toward 0.5900 support after breaking below nine-day EMA
The NZD/USD pair extends losses for the second successive session, trading around 0.5920 during early European hours on Wednesday.
Technical Analysis
Majors
NZDUSD
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Forex Today: Critical growth and inflation data from major economies to ramp up volatility
Here is what you need to know on Wednesday, April 30:
Currencies
Majors
EconomicIndicator
Commodities
Macroeconomics
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EUR/INR: Indian Rupee cross rates down at the start of the European session
Indian Rupee (INR) crosses trade with a negative bias at the start of Wednesday, according to FXStreet data. The Euro (EUR) to the Indian Rupee changes hands at 96.71, with the EUR/INR pair declining from its previous close at 96.95.
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Bessent told French Fin Minister the idea of zero reciprocal tariffs wasn't unrealistic
French Finance Minister Lombard with the indiscretion
EUR
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Switzerland April KOF leading indicator index 97.1 vs 101.5 expected
Latest data released by KOF - 30 April 2025
CHF
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EUR/GBP holds positive ground near 0.8500 as traders await German, Eurozone GDP data
The EUR/GBP cross trades in positive territory near 0.8500 during the early European session on Wednesday. The Euro (EUR) remains strong after the German economic data. Traders will shift their attention to the advanced estimate of Q1 Gross Domestic Product (GDP) from Germany later on Wednesday.
Crosses
Germany
RetailSales
EURGBP
Macroeconomics
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France April preliminary CPI (HICP) +0.8% vs +0.7% y/y expected
Latest data released by INSEE - 30 April 2025
EUR
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Palladium price: Rare metals mixed at the start of the European session
Platinum Group Metals (PGMs) trade mixed at the beginning of Wednesday, according to FXStreet data. Palladium (XPD) changes hands at $938.30 a troy ounce, with the XPD/USD pair easing from its previous close at $939.50.
Metals
Platinum
Palladium
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What are the main events for today?
We have lots of data on the agenda but the focus remains on that first trade deal announcement
market overview
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Heads up: Chinese markets closure until next week
An extended break in observance of Labor Day
market overview
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Fxstreet
Crude Oil price today: WTI price bearish at European opening
West Texas Intermediate (WTI) Oil price falls on Wednesday, early in the European session. WTI trades at $59.37 per barrel, down from Tuesday’s close at $59.91.
Oil
WTI
Commodities
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German Retail Sales rise 2.2% YoY in March vs. 4.9% previous
Retail Sales in Germany declined 0.2% month-over-month (MoM) in March, following the 0.8% growth reported in February, according to official data released by Destatis on Wednesday.
Germany
EconomicIndicator
RetailSales
EURUSD
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Germany March import price index -1.0% vs -0.8% m/m expected
Latest data released by Destatis - 30 April 2025
EUR
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Germany March retail sales -0.2% vs -0.4% m/m expected
Latest data released by Destatis - 30 April 2025
EUR
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UK April Nationwide house prices -0.6% vs 0.0% m/m expected
Latest data released by Nationwide Building Society - 30 April 2025
GBP
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Breaking: US GDP is expected to contract by 0.3% in the January–March period
The United States (US) economy contracted at an annualised rate of 0.3% in the first quarter of 2025, according to data released Wednesday by the Bureau of Economic Analysis (BEA), missing market forecasts of a 0.4% growth and coming down from the prior 2.4% expansion.
Breaking
GDP
UnitedStates
SEO
DollarIndex
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EUR/USD flat lines below 1.1400 mark ahead of Eurozone/US macro data
The EUR/USD pair recovers a few pips from the vicinity of the mix-1.1300s, or the Asian session low, though it lacks any follow-through amid a modest US Dollar (USD) uptick. Spot prices currently trade around the 1.1375 area and remain confined in a familiar range held over the past week or so.
EURUSD
EconomicIndicator
ECB
Fed
Currencies
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GBP/USD breaks below 1.3400 due to stronger US Dollar, BoE rate cut expectations
GBP/USD extends its decline for a second straight session, hovering near 1.3390 during Wednesday’s Asian trading. The pair is under pressure as the US Dollar strengthens on renewed optimism surrounding US-China trade developments.
UnitedKingdom
Majors
BOE
Macroeconomics
GBPUSD
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France Q1 preliminary GDP +0.1% vs +0.1% q/q expected
Latest data released by INSEE - 30 April 2025
EUR
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USD/CHF softens to near 0.6400 amid tariff uncertainty
The USD/CHF pair posts modest losses around 0.6410 during the early European session on Wednesday. The uncertainty surrounding trade policy continues to boost the safe-haven flows, supporting the Swiss Franc (CHF). The Swiss KOF Leading Indicator for April is due later on Wednesday.
Majors
USDCHF
Macroeconomics
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