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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
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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
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Silver price today: Silver falls, according to FXStreet data
Silver prices (XAG/USD) fell on Wednesday, according to FXStreet data.
Silver
Commodities
Metals
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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
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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
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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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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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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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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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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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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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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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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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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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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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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).
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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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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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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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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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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
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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
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France March trade balance -€6.25 billion vs -€7.87 billion prior
Latest data released by the French MOF - 7 May 2025
EUR
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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
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Germany March industrial orders +3.6% vs +1.3% m/m expected
Latest data released by Destatis - 7 May 2025
EUR
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