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US Dollar soft after PMI data and gloomy Fed's Beige Book
US Dollar soft after PMI data and gloomy Fed's Beige Book
The US Dollar Index (DXY) failed to hold onto its early strength during Wednesday’s session and now drifts near the 99.50 region, reflecting continued uncertainty around US trade policy and softening business momentum.
Currencies
SEO
DollarIndex
Fed’s Beige Book: The outlook worsens due to uncertainty spurred by tariffs
Fed’s Beige Book: The outlook worsens due to uncertainty spurred by tariffs
Commonly known as the Beige Book, this report is published eight times per year. Each Federal Reserve Bank gathers anecdotal information on current economic conditions, most of which focuses on the economy’s general overview, inflation, and employment.
Fed
CentralBanks
InterestRate
DollarIndex
The Beige Book is coming up next
The Beige Book is coming up next
The Beige Book is due at 2 pm ET
BoE’s Bailey: Fragmenting the world economy will be bad for growth
BoE’s Bailey: Fragmenting the world economy will be bad for growth
At an International Monetary Fund (IMF) event, Bank of England (BoE) Governor Andrew Bailey said that the central bank must take the risk to economic growth from global trade disruption very seriously.
CentralBanks
BOE
GBPUSD
China's stance on US-China trade talks revealed; Doors open for negotiation
China's stance on US-China trade talks revealed; Doors open for negotiation
Chinese embassy emphasizes openness for talks with the U.S. without threats or pressure, calling for equality and respect in negotiations.
USDCAD extends to the upside
USDCAD extends to the upside
Moves above the swing area/100 hour MA
USD/CAD price analysis: Consolidation holds below 1.3900 as Fed and trade policy risks loom
USD/CAD price analysis: Consolidation holds below 1.3900 as Fed and trade policy risks loom
The USD/CAD pair trades modestly higher around 1.3800 during Wednesday’s North American session, bouncing within a tight range after testing six-month lows earlier in the week.
Technical Analysis
Fed
USDCAD
Majors
Stocks still higher but trading at session lows
Stocks still higher but trading at session lows
S&P and NASDAQ indices tested their 200 hour moving averages and found willing sellers
Dow Jones soars close to 500 points as Trump calms Powell firing fears, China tariff relief eyed
Dow Jones soars close to 500 points as Trump calms Powell firing fears, China tariff relief eyed
The Dow Jones Industrial Average (DJIA) rallied over 490 points or close to 1.30% on Wednesday amid traders' relief on a possible de-escalation of the US-China trade war and US President Donald Trump's comment that he doesn’t plan to remove Federal Reserve (Fed) Chair Jerome Powell.
DowJones
Equities
Fed
SEO
EUR/GBP Price Analysis: Pair trades near 0.8600 amid neutral short-term signals
EUR/GBP Price Analysis: Pair trades near 0.8600 amid neutral short-term signals
The EURGBP pair eased slightly on Wednesday, slipping toward the lower end of its recent consolidation range after the European session. The pair was last seen hovering near the 0.8600 area, reflecting a mild pullback within a still-bullish technical setup.
Crosses
Technical Analysis
Currencies
EURGBP
US Treasury Secretary Bessent: No unilateral tariff cuts for China
US Treasury Secretary Bessent: No unilateral tariff cuts for China
On Wednesday, United States (US) Treasury Secretary Scott Bessent crossed the wires to discuss the trade war between China and his country. He commented that President Donald Trump has not offered to unilaterally lower tariffs on China.
China
UnitedStates
Politics
AUDUSD
DollarIndex
GBPUSD dips back toward the 200 hour MA
GBPUSD dips back toward the 200 hour MA
The rising 200-hour MA comes in at 1.32573
New Eurex Futures to Offer Hedging Tool for European Union Bonds
New Eurex Futures to Offer Hedging Tool for European Union Bonds
News Discussion Forum
By Finance Magnates
New Eurex Futures to Offer Hedging Tool for European Union Bonds
Eurex has announced it will launch futures on EU bonds starting in September. The new instrument aims to give traders a way to hedge exposure or gain market access and comes at a time when interest...
EUR/USD Price Analysis: Edges lower toward 1.1400 zone despite bullish trend structure
EUR/USD Price Analysis: Edges lower toward 1.1400 zone despite bullish trend structure
The EUR/USD pair eased lower on Wednesday, retreating slightly toward the 1.1400 zone after a recent bullish streak.
Technical Analysis
Currencies
EURUSD
Majors
Bullish
Bessent: No unilateral offer from Trump to cut China tariffs
Bessent: No unilateral offer from Trump to cut China tariffs
Some comments from Bessent and initial downside in stock markets
Politics
USD
EURUSD breaks below 200 hour MA
EURUSD breaks below 200 hour MA
Key support down at 1.0271 – 1.1275
GBP/USD slips beneath 1.3300 as USD gains on Powell relief and trade optimism
GBP/USD slips beneath 1.3300 as USD gains on Powell relief and trade optimism
The Pound Sterling (GBP) depreciates against the Greenback on Wednesday, yet slightly recovered after diving to four-day lows of 1.3230. Traders seemed relieved that US President Donald Trump, although angry with Federal Reserve (Fed) Chair Powell, is not looking to sack him.
Currencies
Fed
Majors
GBPUSD
Canadian travel to US shows shows a steep decline
Canadian travel to US shows shows a steep decline
Statistics Canada released February travel data
US: How much revenue can tariffs bring? – Standard Chartered
US: How much revenue can tariffs bring? – Standard Chartered
Tariff revenue won't compensate for the fiscal costs of TCJA extensions. Added tariff revenues will be below 1% of GDP – most likely 0.5-0.9% of GDP. Unfunded tax cuts could put further upward pressure on US rates, Standard Chartered's analysts report.
US Elections
UnitedStates
Politics
Banks
Macroeconomics
CAD unruffled by overnight swings, holds range – Scotiabank
CAD unruffled by overnight swings, holds range – Scotiabank
The Canadian Dollar (CAD) is little changed on the day as spot continues to consolidate.
Technical Analysis
Canada
BOC
USDCAD
Banks
GBP jostled by sentiment, headline risks – Scotiabank
GBP jostled by sentiment, headline risks – Scotiabank
The Pound Sterling (GBP) weakens and enters Wednesday’s American session with a modest decline, trading in tandem with the Euro (EUR), around the Trump trade/Fed headlines, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Technical Analysis
Banks
GBPUSD
Revolut’s EU Trading Unit Gains MiFID II Upgrade from Lithuania Following €3.5 Million Fine
Revolut’s EU Trading Unit Gains MiFID II Upgrade from Lithuania Following €3.5 Million Fine
News Discussion Forum
By Finance Magnates
Revolut’s EU Trading Unit Gains MiFID II Upgrade from Lithuania Following €3.5 Million Fine
Revolut Securities Europe UAB (RSEUAB), the European trading subsidiary of Revolut, has received a license upgrade from the Bank of Lithuania.
revolut
fintech
Lithuania
MiFID II
MiFID2
Silver Price Forecast: XAG/USD jumps to near $33 as US-China trade tensions ease
Silver Price Forecast: XAG/USD jumps to near $33 as US-China trade tensions ease
Silver price (XAG/USD) trades firmly around $33.00 during North American trading hours on Wednesday. The white metal strengthens as fears of an intense trade war between the United States (US) and China have diminished after President Donald Trump signaled the possibility of a deal with Beijing.
Silver
SupportResistance
TradeWar
Fed
XAGUSD
S&P global manufacturing PMI for April 50.7 versus 49.1 estimate.
S&P global manufacturing PMI for April 50.7 versus 49.1 estimate.
S&P global manufacturing and services PMI data for April 2025.
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