Trading news

The EUR/JPY pair extended its rally on Thursday, pushing toward the 164.00 zone after a strong advance during the European session. The pair sits near the top of the day’s range as it enters the Asian session, reflecting sustained demand despite a flattening in momentum indicators.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against a basket of currencies, is rising above the 100.00 level as markets absorb softer-than-expected labor and manufacturing data.

The Dow Jones Industrial Average (DJIA) rallied over 100 points, or 0.24%, on Thursday after big tech companies posted strong earnings reports, ignoring surveys that underscored the ongoing economic slowdown in the United States.

United States EIA Natural Gas Storage Change below forecasts (111B) in April 25: Actual (107B)

What you need to take care of on Friday, May 2:

The USD/CHF is trading with gains, extending its recovery into the upper 0.8900s after a busy Thursday filled with US economic data and renewed Fed rate cut speculation.

The EUR/GBP pair saw slight weakness on Thursday, trading near the 0.8500 zone after the European session. Despite today’s marginal drop, the overall structure remains supportive of a bullish bias, backed by a firm base of longer-term moving averages.

The Pound Sterling edges lower against the US Dollar on Thursday, with most European markets closed during Labor Day. The release of manufacturing activity data on both sides of the Atlantic and US trade policies continued to drive the financial markets.

The EUR/USD pair is holding a bearish tone on Thursday, after retreating modestly following the European session. Price action is contained within a mid-range zone around the 1.1300 mark, reflecting a brief pause in upward momentum.

United States 4-Week Bill Auction: 4.24% vs 4.22%

Silver price (XAG/USD) recovers a majority of its early gains and returns to near $32.50 during North American trading hours on Thursday.

The USD/CAD pair edges higher to near 1.3820 during North American trading hours on Thursday. The Loonie pair moves slightly higher despite the US Dollar (USD) has attracted significant bids after the release of the United States (US) ISM Manufacturing Purchasing Managers’ Index (PMI) data.

The business activity in the United States (US) manufacturing sector continued to contracted in April, with the ISM Manufacturing Purchasing Managers Index (PMI) edging lower to 48.7 from 49 in March. This reading came in better than the market expectation of 48.

United States ISM Manufacturing Prices Paid registered at 69.8, below expectations (70.3) in April

United States ISM Manufacturing New Orders Index up to 47.2 in April from previous 45.2

United States ISM Manufacturing PMI above forecasts (48) in April: Actual (48.7)

United States Construction Spending (MoM) came in at -0.5% below forecasts (0.2%) in March

United States ISM Manufacturing Employment Index up to 46.5 in April from previous 44.7

United States S&P Global Manufacturing PMI below forecasts (50.7) in April: Actual (50.2)

Canada S&P Global Manufacturing PMI dipped from previous 46.3 to 45.3 in April