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Fxstreet
USD/CNH is likely to trade in a 7.1900/7.2300 range – UOB Group
Outlook is mixed; US Dollar (USD) is likely to trade in a 7.1900/7.2300 range against Chinese Yuan (CNH). In the longer run, USD could range-trade for a few days before resuming its decline; the level to watch is at 7.1700, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
USDCNH
Banks
By
Forex Live
Bitcoin consolidates above a key level as all-time highs continue to be in sight
The de-escalation expectations on the tariffs front helped Bitcoin to broke above a key resistance zone as all-time highs come into sight
BTC
By
Fxstreet
USD/JPY fails at key resistance – Société Générale
USD/JPY struggles to sustain upward momentum, with a failure at key resistance and risks building for a deeper pullback toward 140 and below, Société Générale's FX analysts note.
Technical Analysis
USDJPY
Banks
By
Fxstreet
USD/JPY: Likely to consolidate in a 142.20/144.00 range – UOB Group
US Dollar (USD) is likely to consolidate in a 142.20/144.00 range. In the longer run, USD has likely entered a consolidation phase and is likely to trade between 142.20 and 146.70 for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
USDJPY
Banks
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Fxstreet
NZD holds firm despite mixed jobs data – BBH
NZD/USD is consolidating recent gains around 0.6000. New Zealand’s Q1 labor market data was mixed and still argues for additional RBNZ easing, BBH FX analysts report.
RBNZ
NewZealand
Banks
NZDUSD
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Fxstreet
Gold steady in minor loss ahead of Fed rate decision
Gold (XAU/USD) remains in steady trading on Wednesday around $3,390 at the time of writing and for most part in the European session, ahead of the Federal Reserve (Fed) rate decision and after statements from both China and the United States (US) confirmed that trade talks will kick off this weekend
TradeWar
UnitedStates
SEO
Gold
Commodities
By
Fxstreet
NZD/USD: Chance of breaking above 0.6030 – UOB Group
New Zealand Dollar (NZD) could break above 0.6030 vs US Dollar (USD) but might not be able to maintain a foothold above this level; 0.6060 is probably out of reach.
NZDUSD
Technical Analysis
Banks
By
Fxstreet
Fed's Powell: Right thing to do is await further clarity
US Federal Reserve (Fed) Chairman Jerome Powell explained the decision to leave the policy rate unchanged at the 4.25%–4.50% range following the May meeting and responded to questions during the post-meeting press conference.
Fed
SEO
InterestRate
DollarIndex
By
Fxstreet
The talks between the US and China begin – Commerzbank
After a long period of uncertainty, it is now official: negotiations on a deal between the US and China are going to begin, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.
China
TradeWar
UnitedStates
Banks
Macroeconomics
By
Forex Live
EU reportedly eyes tariffs on Boeing if trade talks with US go south
FT reports, citing two people familiar with the matter
Politics
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Fxstreet
Pound Sterling trades cautiously against USD, Fed-BoE policy decision looms large
The Pound Sterling (GBP) trades cautiously to near 1.3370 against the US Dollar (USD) during North American trading hours on Wednesday.
China
Fed
SEO
BOE
GBPUSD
By
Fxstreet
EUR/USD shakes off German political wobble – Danske Bank
Despite political noise out of Germany, EUR/USD held firm as markets eye the Fed for hints of dovishness and remain positioned for further USD weakness over the year, Danske Bank's FX analysts report.
Currencies
EURUSD
Banks
By
Fxstreet
Merz elected after rocky start, Euro shrugs off drama – Commerzbank
While some politically savvy people may have fallen off their chairs yesterday after the first round of voting for the new German Chancellor, the fx market seemed less than impressed, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.
Technical Analysis
EURUSD
Europe
Eurozone
Banks
By
Fxstreet
Silver price today: Silver falls, according to FXStreet data
Silver prices (XAG/USD) fell on Wednesday, according to FXStreet data.
Silver
Commodities
Metals
By
Fxstreet
European gas prices surge on EU energy plan – ING
European natural gas prices displayed plenty of strength yesterday, ING's commodity experts Ewa Manthey and Warren Patterson note.
Europe
Energy
Gas
Banks
By
Fxstreet
Fed expected to hold rates amid trade uncertainty – Commerzbank
Apart perhaps from the US President, hardly any market participants are likely in any doubt that the US Fed will leave interest rates unchanged today.
Fed
InterestRate
Banks
By
Forex Live
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
By
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
By
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
By
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
By
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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Forex Live
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
By
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
By
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
By
Forex Live
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
By
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
By
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
By
Forex Live
UK April construction PMI 46.6 vs 45.8 expected
Latest data released by S&P Global - 7 May 2025
GBP
By
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
By
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
By
Forex Live
China gold reserves rise for sixth straight month
The PBOC continues to steadily increase its gold holdings
Gold
By
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
By
Forex Live
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
By
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
By
Forex Live
Germany April construction PMI 45.1 vs 40.3 prior
Latest data released by HCOB - 7 May 2025
EUR
By
Forex Live
China reaffirms that its position on talks has not changed
Further remarks by the Chinese commerce ministry
CNY
By
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
By
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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