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BOE governor Bailey: Interest rates are not on auto-pilot
BOE governor Bailey: Interest rates are not on auto-pilot
Remarks by BOE governor, Andrew Bailey, in his press conference
US Dollar Index has volatile ride after 10% tariff sticks despite trade deal for UK
US Dollar Index has volatile ride after 10% tariff sticks despite trade deal for UK
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades flat and dips back below 100.00 before the upcoming announcement by Donald Trump on a “major trade deal” between the United States (US) and, reportedly, the United Kingdom (UK).
TradeWar
UnitedStates
SEO
Macroeconomics
DollarIndex
Sterling climbs on messy BOE vote split
Sterling climbs on messy BOE vote split
Cable pushes up above 1.3300 from around 1.3250 before the policy decision
Mexican Peso pauses below support with US-China trade talks in focus
Mexican Peso pauses below support with US-China trade talks in focus
The Mexican Peso (MXN) has been swinging between mild gains and losses against the US Dollar (USD) on Thursday, as markets digest stronger-than-expected Mexican inflation data, cautious commentary from the Fed, and the announcement of a US-UK trade deal.
Currencies
TradeWar
SEO
USDMXN
Banxico
BOE cuts bank rate by 25 bps to 4.25%, as expected
BOE cuts bank rate by 25 bps to 4.25%, as expected
The BOE announces its May 2025 monetary policy decision
USD/CNH: The level to watch is at 7.1700 – UOB Group
USD/CNH: The level to watch is at 7.1700 – UOB Group
US Dollar (USD) is expected to trade between 7.2070 and 7.2370 vs 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
Trump: "Too late" Jerome Powell is a FOOL
Trump: "Too late" Jerome Powell is a FOOL
Trump bashing the Fed Chair once again on Truth Social
Politics
USD/CAD moves higher after failing to break below 1.3800 – BBH
USD/CAD moves higher after failing to break below 1.3800 – BBH
USD/CAD climbs after a failed attempt to break key technical support at 1.3800, with ongoing trade uncertainties keeping pressure on the Canadian Dollar (CAD), BBH FX analysts report.
Technical Analysis
USDCAD
Banks
BOE decision coming up next, a rate cut is widely expected
BOE decision coming up next, a rate cut is widely expected
The policy decision will be announced at 1102 GMT, two minutes later than usual
USD/CHF rises above 0.8250 as Fed sees no rush to interest rate cuts
USD/CHF rises above 0.8250 as Fed sees no rush to interest rate cuts
The USD/CHF pair moves higher above 0.8250 during European trading hours on Thursday. The Swiss Franc pair gains as the US Dollar (USD) trades higher after the Federal Reserve (Fed) signaled that it is in no hurry to lower interest rates.
Fed
UnitedStates
InterestRate
USDCHF
SNB
USD/JPY is still consolidating – UOB Group
USD/JPY is still consolidating – UOB Group
Bias for US Dollar (USD) is tilted to the upside vs Japanese Yen (JPY), with scope for a test of 144.30. In the longer run, USD is still consolidating; moderating price swings point to a tighter range of 142.20/145.30, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
USDJPY
Banks
USD/JPY breaks above 144.00 after dovish BoJ minutes – BBH
USD/JPY breaks above 144.00 after dovish BoJ minutes – BBH
USD/JPY has firmed above 144.00 as dovish BoJ signals and downgraded forecasts reinforce the view that Japan’s rate hike cycle is near its end, BBH FX analysts report.
Technical Analysis
BOJ
USDJPY
Banks
NZD/USD: Likely to trade between 0.5890 and 0.6030 – UOB Group
NZD/USD: Likely to trade between 0.5890 and 0.6030 – UOB Group
Sharp drop appears overdone, but New Zealand Dollar (NZD) could decline to 0.5920 against US Dollar (USD) before stabilisation is likely.
Technical Analysis
Banks
NZDUSD
BoE expected to cut to 4.25% amid trade war risks – Danske Bank
BoE expected to cut to 4.25% amid trade war risks – Danske Bank
The BoE is expected to deliver a 25bps rate cut and a dovish tone, with EUR/GBP likely to rise as inflation undershoots and growth concerns persist, Danske Bank's FX analysts report.
UnitedKingdom
BOE
EURGBP
Banks
Crude oil looks to be bottoming out as the first trade deals come into focus
Crude oil looks to be bottoming out as the first trade deals come into focus
It's been an awful month for the crude oil market amid higher supply and lower demand fears, but the conditions might be changing...
GBP rises on hopes of UK-US trade deal – BBH
GBP rises on hopes of UK-US trade deal – BBH
GBP is outperforming most major currencies. The prospect of a UK-US trade deal significantly reduces the downside risk to UK economic activity, BBH FX analysts report.
UnitedKingdom
BOE
Banks
GBPUSD
Fed stays put, sends expected “No Rush” message – Danske Bank
Fed stays put, sends expected “No Rush” message – Danske Bank
With the Fed's 'lack of urgency'-signal being in line with expectations the market reaction proved very limited upon announcement, Danske Bank's FX analysts report.
EURUSD
Fed
Banks
DollarIndex
EUR/NOK rejected at key multiyear resistance – Société Générale
EUR/NOK rejected at key multiyear resistance – Société Générale
EUR/NOK is retreating after a failed breakout above 12.05, with focus shifting to support near the 50-DMA and downside targets at 11.60 and 11.45, Société Générale's FX analysts note.
Technical Analysis
EURNOK
Norway
Banks
GBP/USD stalls near key channel resistance – Société Générale
GBP/USD stalls near key channel resistance – Société Générale
The GBP/USD rally is showing signs of fatigue near major resistance at 1.3430–1.3500, with momentum fading and key support at 1.3230 now under close watch, Société Générale's FX analysts note.
Technical Analysis
Banks
GBPUSD
The Fed is waiting for now – Commerzbank
The Fed is waiting for now – Commerzbank
As expected, the Fed left interest rates unchanged yesterday. At the same time, Fed Chairman Jerome Powell was keen to stress that the Fed is in no hurry to cut rates.
Fed
Inflation
InterestRate
Banks
EUR/USD ticks lower as Fed signals no rush for rate cuts
EUR/USD ticks lower as Fed signals no rush for rate cuts
EUR/USD ticks lower below 1.1300 during European trading hours on Thursday.
ECB
EURUSD
Fed
Eurozone
SEO
China keeps adding Gold to its reserves – ING
China keeps adding Gold to its reserves – ING
China expanded its Gold reserves for a sixth straight month in April, ING's commodity experts Ewa Manthey and Warren Patterson note.
XAUUSD
Metals
Gold
Commodities
Banks
AUD/USD: Likely to trade in a lower range of 0.6400/0.6470 – UOB Group
AUD/USD: Likely to trade in a lower range of 0.6400/0.6470 – UOB Group
Rather than sustaining its downward momentum, Australian Dollar (AUD) is more likely to trade in a lower range of 0.6400/0.6470.
Technical Analysis
Banks
AUDUSD
Choppy session for oil – ING
Choppy session for oil – ING
It was a choppy session for the oil market yesterday. Initially, Brent rallied amid growing hopes of de-escalation in trade tensions between China and the US, with talks set to start this weekend, ING's commodity experts Ewa Manthey and Warren Patterson note.
Oil
Energy
Brent
Commodities
Banks
USD: Dollar to take its cue from the US-UK trade deal – ING
USD: Dollar to take its cue from the US-UK trade deal – ING
Following a social media post from President Trump last night that a major trade deal would be announced at 16CET/10ET today, speculation is rife that it will be a US-UK agreement.
Technical Analysis
Banks
DollarIndex
Silver price today: Silver falls, according to FXStreet data
Silver price today: Silver falls, according to FXStreet data
Silver prices (XAG/USD) fell on Thursday, according to FXStreet data.
Silver
Commodities
Metals
UK and US have reached a "heads of terms" trade agreement – Sky News
UK and US have reached a "heads of terms" trade agreement – Sky News
Citing confirmation from a British government source, Sky News reported on Thursday that the UK and the US have reached a "heads of terms" agreement and a "substantive" step towards a full trade deal.
TradeWar
UnitedStates
UnitedKingdom
GBPUSD
USD/CAD Price Forecast: Remains confined in a multi-week-old range; not out of the woods yet
USD/CAD Price Forecast: Remains confined in a multi-week-old range; not out of the woods yet
The USD/CAD pair attracts buyers for the second successive day on Thursday and recovers further from the year-to-date (YTD) low, around the mid-1.3700s touched earlier this week.
Currencies
TradeWar
Fed
USDCAD
GBP/USD remains below 1.3335 – UOB Group
GBP/USD remains below 1.3335 – UOB Group
Provided Pound Sterling (GBP) remains below 1.3335 against US Dollar (USD), it could edge lower to 1.3265. 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
UK PM Starmer: You will hear more from me later today on US economic deal
UK PM Starmer: You will hear more from me later today on US economic deal
UK Prime Minister (PM) Keir Starmer said on Thursday, “you will hear more from me later today on the US economic deal.”
TradeWar
UnitedStates
UnitedKingdom
GBPUSD
UK and US have agreed on terms for trade deal - report
UK and US have agreed on terms for trade deal - report
Sky News reports, citing confirmation from a government source
Politics
AUD/JPY rises toward 93.00, rebounds due to easing safe-haven demand
AUD/JPY rises toward 93.00, rebounds due to easing safe-haven demand
AUD/JPY snaps a three-day losing streak and trades around 92.90 during European hours on Thursday, buoyed by waning demand for safe-haven assets like the Japanese Yen (JPY).
AUDJPY
Crosses
Macroeconomics
Japan
Australia
GBP: We're not as dovish as some on the BoE – ING
GBP: We're not as dovish as some on the BoE – ING
Today's Bank of England meeting should be a market mover, ING's FX analyst Chris Turner notes.
Technical Analysis
BOE
Banks
GBPUSD
EUR/USD is tilted to the downside – UOB Group
EUR/USD is tilted to the downside – UOB Group
Bias for Euro (EUR) is tilted to the downside vs US Dollar (USD); any decline is likely limited to a test of 1.1280. In the longer run, current price movements are likely part of a consolidation phase between 1.1225 and 1.1410, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
EURUSD
Banks
EUR: Are long positions getting stale? – ING
EUR: Are long positions getting stale? – ING
EUR/USD has drifted lower to test support at 1.1300 today, ING's FX analyst Chris Turner notes.
Technical Analysis
EURUSD
Banks
The US Dollar extends gains against the JPY on positive sentiment
The US Dollar extends gains against the JPY on positive sentiment
The announcement of the outline for a trade deal with the UK is giving the greenback a boost as overstretched short positions get unwound
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