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Fxstreet
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
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Forex Live
The US-UK trade pact will leave the 10% tariff in place - report
CNN report
GBP
USD
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Fxstreet
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
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Fxstreet
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
InterestRate
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US initial jobless claims 228K versus 230K estimate
The weekly US initial and continuing claims
USD
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Forex Live
US Q1 unit labor costs prelim +5.7% vs +5.1% expected
US first quarter unit labor cost data
USD
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Forex Live
Russia and China intend to ramp up cooperation to decisively counter US containment
Joint statement from Moscow and Beijing
USD
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Fxstreet
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
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Eyes on today's US wholesale inventories report
Inventories have built but it's not in the data
USD
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Forex Live
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
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Forex Live
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
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Forex Live
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
EUR
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Fxstreet
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).
GBPJPY
BOJ
BOE
InterestRate
GDP
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Fxstreet
EUR softening to lower end of recent range – Scotiabank
The Euro (EUR) is soft, down 0.2% vs. the US Dollar (USD) and trading under 1.13 with an extension of Wednesday’s Fed-driven decline, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Technical Analysis
EURUSD
Banks
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BOE governor Bailey: Don't know what to expect from UK-US trade deal for now
Q&A session for Bailey's press conference
BOE
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Fxstreet
CAD is pulling back within recent range – Scotiabank
The Canadian Dollar (CAD) is soft, down 0.3% vs. the US Dollar (USD) and underperforming most of the G10 currencies in an environment of broad USD strength, extending Wednesday’s post-Fed decline, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Technical Analysis
Canada
BOC
USDCAD
Banks
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Fxstreet
USD extending post-Fed gains as markets focus on US/UK trade deal – Scotiabank
The US Dollar (USD) is entering Thursday’s NA session with broad strength against all of the G10 currencies and is seeing notable gains vs. Japanese Yen (JPY), Swiss Franc (CHF), Canadian Dollar (CAD), and New Zealand Dollar (NZD), Scotiabank's Chief FX Strategist Shaun Osborne notes.
Banks
DollarIndex
Technical Analysis
Fed
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BOE governor Bailey: Interest rates are not on auto-pilot
Remarks by BOE governor, Andrew Bailey, in his press conference
BOE
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Xi and Putin sign statement to deepen strategic partnership between Russia and China
Xi says he had in-depth and friendly talks with Putin today
Politics
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Fxstreet
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
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Sterling climbs on messy BOE vote split
Cable pushes up above 1.3300 from around 1.3250 before the policy decision
GBP
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Fxstreet
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
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BOE cuts bank rate by 25 bps to 4.25%, as expected
The BOE announces its May 2025 monetary policy decision
GBP
BOE
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Fxstreet
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
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Trump: "Too late" Jerome Powell is a FOOL
Trump bashing the Fed Chair once again on Truth Social
Politics
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Fxstreet
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
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Forex Live
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
BOE
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Fxstreet
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
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Fxstreet
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
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Fxstreet
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
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Fxstreet
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
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Fxstreet
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
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Forex Live
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...
Oil
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Forex Live
Trump says agreement with UK is a full and comprehensive one
Further tweet by the US president
Politics
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Fxstreet
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
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Fxstreet
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
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Fxstreet
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
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Fxstreet
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
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Fxstreet
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
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