Trading news

Euro (EUR) continued to drift lower amid broad US Dollar (USD) rebound. Pair was last at 1.1250 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Oil markets strengthened yesterday as sanction risks against Russia increase, while the market appears to be losing hope that we’ll see a nuclear deal between the US and Iran. This might’ve led to the eventual lifting of oil sanctions.

WTI Oil prices accelerated their recovery on Thursday, as a US court ruling against Trump’s tariffs boosted hopes for some normalisation in global trade, which will support crude demand.The US Court for International Trade ruled on Wednesday that Trump’s unilateral trade tariffs overstep the US Cong

Further weakness is not ruled out; it is unclear whether Euro (EUR) can break and hold below 1.1200 against US Dollar (USD). In the longer run, to continue to decline, EUR must first close below 1.1200, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

The Pound Sterling (GBP) recovers early losses against the US Dollar (USD), after hitting a bottom of 1.3415, and trades flat around 1.3470 during European trading hours on Thursday.

AUD/JPY continues its winning streak for the fifth successive day, trading around 93.60 during the European hours on Thursday.

USD/CHF gives back the majority of early gains as the US Dollar retreats.

EUR/USD is trading with moderate losses, around 1.1275 at the time of writing, after bouncing up from 1.1213 lows on the back of a significant US Dollar (USD) jump, following a US court ruling against trade tariffs.The three judges from the US Court of International Trade have voted unanimously agai

Italy Consumer Confidence registered at 96.5 above expectations (93) in May

Italy Business Confidence registered at 86.5 above expectations (86.2) in May

Chinese Commerce Ministry said in a statement on Thursday, “China and US have used multilateral and bilateral occasions to maintain communications at various levels.”

USD/CAD loses ground after registering gains in the previous two consecutive sessions, trading around 1.3820 during the European hours on Thursday. The pair depreciates as the commodity-linked Canadian Dollar (CAD) receives support from improved crude Oil prices.

Silver prices (XAG/USD) are showing moderate gains on Thursday, after bouncing up from the support area, at $32.60-32.70 but the broader picture remains mixed with price action contained within recent ranges.The fundamental background is unsupportive today.

Spain Retail Sales (YoY) climbed from previous 3.6% to 4% in April

Here is what you need to know on Thursday, May 29:

The EUR/GBP cross remains under selling pressure around 0.8375 during the early European session on Thursday. The Euro (EUR) weakens against the Pound Sterling (GBP) due to weak Eurozone data. Later on Thursday, Bank of England (BoE) Deputy Governor Sarah Breeden is set to speak.

Japan’s Chief Trade Negotiator and Economy Minister Ryosei Akazawa said on Thursday that he “wants to meet with US Treasury Secretary Scott Bessent this time” to conduct ministerial talks.

West Texas Intermediate (WTI) Oil price advances on Thursday, early in the European session. WTI trades at $62.64 per barrel, up from Wednesday’s close at $61.62.

The GBP/USD pair trades in negative territory around 1.3435 during the early European session on Thursday. The Greenback strengthens against the Pound Sterling (GBP) after the US trade court blocks US President Donald Trump's sweeping tariffs.

Japanese Finance Minister Katsunobu Kato said on Thursday that he “agreed with US Treasury Secretary Scott Bessent that exchange rate should be set by the market.”