Market news
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GBP/USD Targets 1.3400 as Dollar Weakens, Stays Below Weekly High
GBP/USD edged higher on Tuesday, attracting dip-buyers near 1.3385 as the US dollar showed modest weakness, though the pair remains below its weekly high of 1.3425.
Gold Breaks 200-Day Moving Average, Loses Safe-Haven Status Amid Meltdown
Gold prices have crashed through the 200-day moving average, with traders reporting that the metal is now behaving like collateral damage in a broader market meltdown rather than a safe haven.
Indian Rupee Slumps as Oil Surges on US-Iran Ceasefire Fears
The Indian Rupee weakened against the US Dollar on Thursday as oil prices surged on fears the US-Iran ceasefire could collapse, with USD/INR rising to near 95.65.
Euro Has Room to Test 1.16/17 While Above 1.15; ECB Rate Hike Expected
The Euro could test 1.16/17 while above 1.15, with markets expecting a 25bps ECB rate hike. The Dollar index may dip to 99.5-99, while EURINR is bearish below 111 and EURJPY could test 186.
Indonesian Rupiah Weakens as Retail Sales Slump in April
The Indonesian Rupiah declined against the US Dollar, with USD/IDR trading near 17,970, following weaker domestic retail sales data for April.
DXY Bulls Have Upper Hand Above 99.50
The US Dollar Index edges lower during Asian trading on Thursday, pausing the overnight recovery from near the weekly lows, while analysts highlight a bullish bias above the 99.50 level.
U.S. Real Spending Excluding Energy Rebounds 1.5% in May
Real spending excluding energy rose 1.5% month-over-month in May, reversing April's 1.0% decline, and was 2.1% higher year-over-year despite energy headwinds.
AUD/JPY Edges Up to 112.40 on RBA Hawkish Stance
AUD/JPY rose to near 112.40 in early European trade Thursday, supported by the Reserve Bank of Australia's hawkish tone and bullish technicals above the 100-day SMA.
USD/JPY Flat Near Six-Week High Amid Intervention Talk
USD/JPY traded little changed around 160.50 during Asian hours after hitting a six-week high of 160.56, with speculation of Japanese FX intervention limiting further upside.
Swiss Franc Strengthens, USD/CHF Drops to 0.7990 as Dollar Struggles
The Swiss Franc gained ground against the US Dollar during Asian trading on Thursday, pushing USD/CHF to around 0.7990. The dollar's weakness persisted despite risk aversion, though safe-haven demand from Middle East tensions may limit further losses.
EUR/USD Edges Higher Near 1.1550 as ECB Decision Looms
The EUR/USD pair trades slightly higher around 1.1550 in Asian trading, with the euro gaining ahead of the ECB policy announcement. Technical indicators show a bearish tone from the downward-sloping 20-day EMA.
Gold Pauses Recovery, Stalls Near $4,100 on US Inflation, Mideast Tensions
Gold paused its recovery from seven-month lows of $4,024 on Wednesday, facing fresh selling interest above $4,100 as hot US inflation and ongoing Middle East tensions kept safe-haven demand in check.
EUR/JPY Rises to Near 185.50 as Bullish Momentum Persists
EUR/JPY extended its winning streak to a fourth session, trading around 185.30 in Asian hours as the cross maintains a constructive bias above key exponential moving averages.
Fertilizer Prices Ease as US Spring Demand Fades
Granular urea prices in New Orleans fell to $453.5 per short ton, the lowest since February, down 36% from mid-April highs. The decline is driven by a drop in seasonal demand after US farmers completed spring applications.
NZD/USD edges up to 0.5800 despite Iran tensions
The New Zealand Dollar rose slightly against the US Dollar during Asian trading, reaching around 0.5800, even as heightened Middle East conflict risks may pressure the risk-sensitive NZD.
Trump to Meet AI Execs on Giving Americans Stake in AI Wealth
President Trump says he will soon meet with top AI executives to discuss plans to give Americans a stake in AI companies' wealth, claiming it will make the public very rich.
AUD/USD Bounces Off Two-Month Low, Upside Capped
The Australian dollar recovers from a fresh two-month low, moving back above 0.7000 against the US dollar, but further gains appear limited.
Silver Rebounds from 11-Week Lows, Trades Near $64.00
Silver price (XAG/USD) gained ground after two days of losses, trading around $64.00 per troy ounce during Asian hours, rebounding from 11-week lows.
GBP/USD Edges Higher to 1.3385 Despite Fed Rate Hike Expectations
GBP/USD rose to around 1.3385 during Asian trading on Thursday, but gains may be capped as markets anticipate higher US interest rates for longer.
USD/CAD Stays Weak as Canadian Dollar, Upside Seen Limited
USD/CAD failed to extend its bounce from the 1.3900 weekly low and edged lower during Asian trading, with the Canadian Dollar supported and upside potential described as limited.
US Hiring Rate Drops to Second-Lowest Since Pandemic, Conflicting with Strong Jobs Reports
The US hiring rate fell to 3.2% in April, the second-lowest since the pandemic, while JOLTs and the May jobs report both beat expectations, creating conflicting signals in the labor market.
US Dollar Index Declines Despite Safe-Haven Demand
The US Dollar Index (DXY) is trading around 100.00 during Asian hours, holding losses after minor gains the previous day, despite increased safe-haven demand.
PBOC Sets USD/CNY Reference Rate at 6.8150
The People's Bank of China set the USD/CNY central parity rate at 6.8150 for Thursday, up from the previous fix of 6.8130.
Iran Launches Drone Operation Against US Fifth Fleet in Bahrain
Iran's military announced a drone operation targeting the US Navy's Fifth Fleet in Bahrain, citing retaliation for US strikes in southern Iran.