The US markets opened strong with a Trump-Xi call, progress in US-Canada and US-EU trade talks, and an ECB rate cut lifting risk appetite. But the party ended fast when a Trump-Musk feud sent Tesla sliding 14% and flipped sentiment from risk-on to risk off. Bitcoin fell below $101,000, gold gave up 4 week highs, and dollar weakness quickly…
Prior +0.2% (revised to +0.1%) This article was written by Giuseppe Dellamotta at www.forexlive.com.
EUR/USD trades sideways around 1.1440 as investors await the US NFP data for May. Easing US-China trade worries have supported the US Dollar. The ECB reduced its key borrowing rates by 25 bps on Thursday. The EUR/USD pair trades in a limited range around 1.1440 during Asian trading hours on Friday. The major currency pair consolidates as investors await…
As expected, the European Central Bank (ECB) delivered its eighth consecutive rate cut since June 2024, this time reducing the deposit rate by 25 basis points to 2.0%. The decision was virtually unanimous, with only one member (likely Austrian governor Robert Holzmann) dissenting. However, the bigger story emerged from President Christine Lagarde’s press conference, where she signaled the central…
China’s central bank unexpectedly injected 1 trillion yuan (around $139 billion) in three-month cash via outright reverse repos on Friday, a break from its usual practice of conducting such operations at the end of the month. The move appears aimed at easing mounting concerns over interbank liquidity, as borrowing costs rise and financial stress builds ahead of a heavy…
WTI lacks firm intraday direction, though it remains on track to register weekly gains. The US-China trade talks raise hopes for fuel demand growth and support Oil prices. A bearish USD also acts as a tailwind for the commodity ahead of the US NFP report. West Texas Intermediate (WTI) US Crude Oil prices oscillate in a narrow band, around…
Adam took a look at the data tto write his NFP preview. Check it out here: May non-farm payrolls preview by the numbers: What does the data say This article was written by Eamonn Sheridan at www.forexlive.com.
Japan’s Finance Minister Katsunobu Kato, when asked about the US Treasury report on exchange rate, said that the monetary policy decision is up to the Bank of Japan. The US Treasury Department said on Thursday that the BoJ should continue to proceed with monetary tightening, arguing that doing so would support a normalization of the yen’s weakness and contribute…
Japan is softening its stance on the 25% U.S. auto tariff, according to the Asahi newspaper, and is no longer pushing for a full repeal. Instead, Tokyo is proposing a more flexible framework that would see tariff rates reduced depending on how much a country contributes to the U.S. auto sector. The proposal, reportedly put forward by Japan’s chief…
Musk and Trump go back and forth with criticism on social media. TSLA dives as much as 17% on Thursday. Tesla (TSLA) stock is facing one of its worst trading sessions in a long time on Thursday. Shared closed above $332 on Wednesday, but at the time of writing late in the afternoon session, TSLA has traded below $274,…
