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Forex Today: The BoJ is widely anticipated to keep rates unchanged
Forex Today: The BoJ is widely anticipated to keep rates unchanged
Renewed buying interest prompted the US Dollar to add to Tuesday’s gains, always on the back of alleviating concerns over US-China trade effervescence and investors’ assessment of weaker-than-expected US data releases. Most markets will be closed on May 1 due to the Labour Day holiday.
Currencies
EURUSD
BOJ
USDJPY
US Dollar Index with gains despite soft data
US Dollar Index with gains despite soft data
The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of currencies, hovered near 99.30 on Wednesday as investors remained cautious ahead of the Nonfarm Payrolls and inflation data later in the week.
Currencies
SEO
DollarIndex
Dow Jones tanks over 200 points as US economy shrinks, recession fears loom
Dow Jones tanks over 200 points as US economy shrinks, recession fears loom
The Dow Jones Industrial Average (DJIA) plunged more than 200 points or over 0.51% as the economy in the United States (US) contracted for the first time since 2022, fueling fears that the economy could be at risk of a recession under the Trump administration.
DowJones
Equities
Fed
SEO
Bank of Canada minutes: Council split over cutting or holding rates due to tariffs risks
Bank of Canada minutes: Council split over cutting or holding rates due to tariffs risks
The Bank of Canada (BoC) revealed the minutes of the meeting held on April 16, which showed that the Governing Council was divided over whether to cut rates or keep them unchanged.
BOC
USDCAD
CentralBanks
InterestRate
President Trump: Carney will come to the White House
President Trump: Carney will come to the White House
US President Donald Trump said Wednesday that Canadian Prime Minister Mark Carney is seeking to strike a trade deal and is expected to visit the White House within the next week. He also hinted at the possibility of reaching a deal with China eventually.
China
TradeWar
UnitedStates
DollarIndex
USD/CHF down as soft US data and China slowdown hit sentiment
USD/CHF down as soft US data and China slowdown hit sentiment
The USD/CHF is trading with losses, staying close to its recent lows after a wave of soft US data and deteriorating macro signals from China triggered broad risk-off flows in the market.
Technical Analysis
Currencies
Majors
USDCHF
Atlanta Fed GDPNow growth estimate for Q2 is 2.4%
Atlanta Fed GDPNow growth estimate for Q2 is 2.4%
The Q1 GDP numbers released today showed the 1st estimate at -0.3%
EUR/GBP Price Analysis: Sterling slips as Euro regains traction post-Europe session
EUR/GBP Price Analysis: Sterling slips as Euro regains traction post-Europe session
The EUR/GBP pair is trading with mild gains on Wednesday, hovering around the mid-0.8500 zone following the European session. The pair rebounded within the day’s range, showing modest upward pressure.
Crosses
Technical Analysis
Currencies
EURGBP
GBP/USD drops as US economy shrinks, inflation holds firm
GBP/USD drops as US economy shrinks, inflation holds firm
The Pound Sterling (GBP) tumbled against the US Dollar (USD) as the economy in the United States (US) contracted, as revealed by Gross Domestic Product (GDP) figures for Q1 2025. At the time of writing, GBP/USD trades at 1.3331, down 0.51%
Technical Analysis
Currencies
Majors
GBPUSD
Fundamental Analysis
Euro falls to a fresh session low
Euro falls to a fresh session low
Volatile trading at month end
EUR
USD
EUR/USD Price Analysis: Bulls remain favored despite intraday setback
EUR/USD Price Analysis: Bulls remain favored despite intraday setback
After the European session on Wednesday, EUR/USD was seen moving lower toward the 1.1350 area, retreating modestly from earlier highs. Despite this intraday softness, the pair maintains a bullish outlook, largely supported by the positioning of its moving averages.
Technical Analysis
Currencies
EURUSD
Majors
Visa sees no problems whatsoever in the economy, anywhere
Visa sees no problems whatsoever in the economy, anywhere
Aside from some travel slowdown, the message from the company is that the consumer is strong
Copper vulnerable as China holiday looms and CTA liquidations intensify – TDS
Copper vulnerable as China holiday looms and CTA liquidations intensify – TDS
Weak Chinese manufacturing PMIs kicked off the selling activity in Copper, but CTA selling activity into the liquidity vacuum has exacerbated the downside with algos on track to sell more than -7% of their max size, TDS' Senior Commodity Strategist Daniel Ghali notes.
Metals
China
Copper
Commodities
Banks
"I Do as the President Says"
"I Do as the President Says"
Trump LIVE: U.S President Donald Trump Holds Cabinet Meeting
Politics
Chinese Gold ETF outflows signal holiday-liquidity risks, not trend shift – TDS
Chinese Gold ETF outflows signal holiday-liquidity risks, not trend shift – TDS
Chinese Gold ETFs recorded their largest outflows in 264 trading sessions, TDS' Senior Commodity Strategist Daniel Ghali notes.
XAUUSD
Metals
Gold
Commodities
Banks
EIA weekly crude oil inventories -2696K vs +429K expected
EIA weekly crude oil inventories -2696K vs +429K expected
Weekly US petroleum data for the week ending April 25, 2025
US-Ukraine minerals deal hits a last-minute hurdle
US-Ukraine minerals deal hits a last-minute hurdle
The deal was expected to be signed today
ukraine
Breaking: US core PCE inflation softens to 2.6% in March as expected
Breaking: US core PCE inflation softens to 2.6% in March as expected
Inflation in the US, as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, edged lower to 2.3% on a yearly basis in March from 2.5% in February, the US Bureau of Economic Analysis (BEA) reported on Wednesday. This reading came in above the market expectation of 2.2%
Breaking
UnitedStates
Inflation
EconomicIndicator
USD/CAD remains unchanged above 1.3800 after US/Canada GDP data
USD/CAD remains unchanged above 1.3800 after US/Canada GDP data
The USD/CAD pair has not moved much and stays around 1.3830 during the North American trading session on Wednesday after the release of the Gross Domestic Product (GDP) data of both the United States (US) and Canada.
Canada
GDP
Fed
USDCAD
Employment
China April PMIs show trade war hit – ABN AMRO
China April PMIs show trade war hit – ABN AMRO
China’s April manufacturing PMIs clearly hit by US-China trade war. Official non-manufacturing PMI and composite PMI also came down. Concrete signs of export shock make stepping up of support likely.
Manufacturing
China
Banks
PMI
Trump blames Biden, says to be patient
Trump blames Biden, says to be patient
Trump posts after negative GDP
Politics
Watch out for a hot print in the PCE report today
Watch out for a hot print in the PCE report today
The PCE price index data is due at 10 am ET
Treasury quarterly refunding coupon auction sizes unchanged
Treasury quarterly refunding coupon auction sizes unchanged
Sees steady auction sizes for next several quarters
US Q1 advance GDP -0.3% vs +0.3% expected
US Q1 advance GDP -0.3% vs +0.3% expected
The first look at USA growth numbers for the first quarter of 2025
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