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Canadian Dollar retreats sharply on Thursday as trade deal hopes rule the markets
Canadian Dollar retreats sharply on Thursday as trade deal hopes rule the markets
The Canadian Dollar (CAD) hit a soft patch on Thursday, extending into a second straight day of losses as the US Dollar (USD) catches a broad bid on hopes that the Trump administration will pick up the pace of inking trade deals to subvert its own self-imposed trade tariffs.
USDCAD
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TradeWar
Forex Today: Fedspeak takes centre stage following Fed hold
Forex Today: Fedspeak takes centre stage following Fed hold
The Greenback edged sharply higher as markets digested the Federal Reserve’s decision to leave interest rates unchanged, while markets’ attention remained on the trade front following news of a US-UK trade agreement.
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Currencies
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DollarIndex
Dow Jones Industrial Average finds fresh highs on trade deal hopes, but settles flat
Dow Jones Industrial Average finds fresh highs on trade deal hopes, but settles flat
The Dow Jones Industrial Average (DJIA) gained ground on Thursday, climbing over 650 points or 1.6% at its peak after the Trump administration announced an incoming (but still not signed) trade deal with the United Kingdom (UK).
DowJones
TradeWar
Equities
SEO
EUR/GBP Price Analysis: Euro weakens near 0.8500 as short-term signals turn negative
EUR/GBP Price Analysis: Euro weakens near 0.8500 as short-term signals turn negative
The EUR/GBP pair drifted lower on Thursday, trading near the 0.8500 zone after the European session and settling within the middle of the day’s range. The decline reflects growing bearish sentiment in the short term, with technical signals tilting to the downside.
Crosses
Technical Analysis
Currencies
EURGBP
USD/CHF rises as US trade optimism fades and Swiss Franc weakens on risk sentiment
USD/CHF rises as US trade optimism fades and Swiss Franc weakens on risk sentiment
The USD/CHF pair is trading higher as the US Dollar (USD) gains momentum on mixed economic signals and trade optimism, while the Swiss Franc (CHF) weakens amid broader risk-on sentiment.
Technical Analysis
Currencies
Majors
USDCHF
Fundamental Analysis
A new Pope has been elected
A new Pope has been elected
White smoke comes from the chimney
GBP/USD climbs past 1.33 on BoE hawkish cut, US-UK reaching trade deal
GBP/USD climbs past 1.33 on BoE hawkish cut, US-UK reaching trade deal
The Pound Sterling (GBP) advanced during the North American session after the Bank of England (BoE) reduced borrowing costs on a 7-2 vote split, with two members voting to hold rates unchanged.
Currencies
Majors
BOE
GBPUSD
Fundamental Analysis
Trump says template for 10% tariffs is 'probably the lowest'
Trump says template for 10% tariffs is 'probably the lowest'
Trump says trade deal with UK won't be template for others: The 10% rate is "a low number"
EUR/USD Price Analysis: Euro steadies near 1.1300 as mixed signals limit momentum
EUR/USD Price Analysis: Euro steadies near 1.1300 as mixed signals limit momentum
The EUR/USD pair holds steady around the 1.1300 area on Thursday, maintaining a neutral tone after the European session. Price action remains confined within the day’s range, reflecting a cautious market stance as traders assess the broader trend.
Technical Analysis
Currencies
EURUSD
Majors
WTI Crude Oil climbs as US inventories fall, trade talks support demand outlook
WTI Crude Oil climbs as US inventories fall, trade talks support demand outlook
WTI Crude Oil is trading sharply higher on Thursday as oil prices benefit from the combination of falling United States (US) stockpiles and growing optimism around upcoming US–China trade talks, which have raised hopes of a potential de-escalation in tensions between the world’s two largest economie
Oil
Energy
SEO
WTI
NY Fed 1-year inflation expectations tick higher
NY Fed 1-year inflation expectations tick higher
The latest survey measures from the New York Fed
Trump: Rate cuts would be like jet fuel
Trump: Rate cuts would be like jet fuel
U.S. President Donald Trump made a series of remarks on Thursday, touting what he called a major breakthrough in trade ties with the United Kingdom.
TradeWar
UnitedStates
Politics
Macroeconomics
DollarIndex
Bank of Canada highlights risks to the Canadian housing market
Bank of Canada highlights risks to the Canadian housing market
Sales numbers for Canadian home sales are plunging
AUD/USD flattens around 0.6420 as US Dollar struggles for more gains
AUD/USD flattens around 0.6420 as US Dollar struggles for more gains
The AUD/USD pair trades flat around 0.6420 during North American trading hours on Thursday. The Aussie pair struggles for direction, while the US Dollar (USD) gives up initial gains.
Australia
China
Fed
InterestRate
AUDUSD
BoC: Trade war with US threatens Canadian economy and poses risks to financial stability
BoC: Trade war with US threatens Canadian economy and poses risks to financial stability
In its annual Financial Stability Report, the Bank of Canada (BoC) said the trade war with the United States threatens the Canadian economy and poses risks to financial stability, per Reuters.
BOC
USDCAD
CentralBanks
Macroeconomics
FTSE 100 turns negative
FTSE 100 turns negative
Not exactly a blockbuster deal
USD/CAD climbs as traders await BoC risk report, Trump trade deal announcement
USD/CAD climbs as traders await BoC risk report, Trump trade deal announcement
The Canadian Dollar (CAD) is weakening against the US Dollar (USD) on Thursday as investors brace for a pivotal day of policy and trade headlines that could redefine North American market sentiment. 
Currencies
BOC
USDCAD
Majors
Macroeconomics
US: Initial Jobless Claims dropped to 228K last week
US: Initial Jobless Claims dropped to 228K last week
US citizens filing new applications for unemployment insurance decreased to 228K for the week ending May 3, as reported by the US Department of Labor (DOL) on Thursday. This print came in just below initial estimates and was lower than the previous week's unrevised tally of 241K.
UnitedStates
Employment
EconomicIndicator
DollarIndex
EUR/GBP slumps to near 0.8470 as Pound Sterling strengthens after BoE’s policy decision
EUR/GBP slumps to near 0.8470 as Pound Sterling strengthens after BoE’s policy decision
The EUR/GBP pair slides to near 0.8470 during early North American hours on Thursday as the Pound Sterling (GBP) attracts significant bids after the Bank of England (BoE) announces its monetary policy.
TradeWar
UnitedStates
BOE
EURGBP
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US initial jobless claims 228K versus 230K estimate
US initial jobless claims 228K versus 230K estimate
The weekly US initial and continuing claims
EU plans potential countermeasures on up to €95 billion of US goods
EU plans potential countermeasures on up to €95 billion of US goods
The European Commission announced on Thursday that it plans to introduce countermeasures on up to 95 billion Euros ($107.2 billion) of US imports, if negotiations with Washington were to fail to eliminate tariffs applied by US President Donald Trump, per Reuters.
Europe
Politics
Macroeconomics
Eyes on today's US wholesale inventories report
Eyes on today's US wholesale inventories report
Inventories have built but it's not in the data
ForexLive European FX news wrap: US-UK trade deal looms, BOE vote split raises eyebrows
ForexLive European FX news wrap: US-UK trade deal looms, BOE vote split raises eyebrows
Forex news from the European morning session on May 8, 2025
Session wrap
Wrap Europe
EU announces list of potential countermeasures against US tariffs if trade talks go south
EU announces list of potential countermeasures against US tariffs if trade talks go south
The list put to consultation concerns imports from the US worth €95 billion
Politics
The EU is considering imposing tariffs on €95bn of US imports
The EU is considering imposing tariffs on €95bn of US imports
This was expected and it's just a proposal in case the negotitations with the US fail
GBP/JPY surges to near 193.00 after BoE’s monetary policy announcement
GBP/JPY surges to near 193.00 after BoE’s monetary policy announcement
The GBP/JPY pair extends its intraday upside move to near 193.00 during the late European session after the announcement of the monetary policy by the Bank of England (BoE).
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