Trading news

A US trade court ruled against US President Donald Trump's latest 10% global tariffs, finding they were not justified under a 1970s trade law, however the court only blocked the levy on two small businesses and the state of Washington, Reuters reported on Thursday.

On Friday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.8502 compared to the previous day's fix of 6.8487 and 6.8138 Reuters estimate.

US President Donald Trump said that a ceasefire with Iran is still in place despite fresh military clashes in and around the Strait of Hormuz, warning that it would be obvious if the ceasefire were over, CNN reported on Thursday.

The USD/JPY pair flat lines around 157.00 during the early Asian session. The pair steadies following another intervention by Japanese authorities. Traders might wait on the sidelines ahead of the US April employment report, which will be published later on Friday. 

West Texas Intermediate (WTI) oil price loses ground after registering modest gains in the previous day, trading around $93.70 per barrel during the Asian hours on Friday.

Japan Jibun Bank Services PMI below expectations (51.2) in April: Actual (51)

The EUR/USD pair posts modest gains around 1.1730 during the early Asian session on Monday, supported by growing optimism surrounding a potential US-Iran peace deal. Markets might turn cautious later in the day ahead of the highly-anticipated US Nonfarm Payrolls (NFP) report for April. 

Japan Labor Cash Earnings (YoY) registered at 2.7%, below expectations (3.2%) in March

US Central Command said Thursday that US forces targeted Iranian military facilities responsible for launching attacks against warships transiting the Strait of Hormuz, CNN reported.

Gold price (XAU/USD) holds steady near $4,685 during the early Asian session on Friday. Traders prefer to wait on the sidelines ahead of the key US employment data for April, which is due later in the day. 

South Korea Current Account Balance rose from previous 23.19B to 37.33B in March

GBP/USD edged slightly lower to around 1.3550 on Thursday, lower around 0.3% after the pair touched a session high near 1.3645 before turning back down.

AUD/USD edged about 0.2% lower on Thursday to around 0.7205, easing back from a multi-year peak just shy of 0.7280 reached earlier in the session.

USD/JPY recovered close to 156.90 on Thursday, edging up roughly 0.4% from Wednesday's slide to 155.04, the lowest level since early February.

The Mexican Peso erases some of its earlier gains and drops some 0.13% as the USD/MXN pair advances after the Bank of Mexico (Banxico) cut rates and warned that the easing cycle has ended. The exotic pair trades at 17.27 after testing a low of 17.19.

The NZD/USD pair is trading with a softer tone near the 0.5940 region on Friday, pressured by cautious market sentiment as investors continue tp react to rapidly changing headlines surrounding the potential peace agreement between the United States (US) and Iran.

OCBC strategists Sim Moh Siong and Christopher Wong describe USD/IDR as easing from overbought territory as hopes of a US–Iran deal support sentiment. Bank Indonesia’s (BI) tighter rules on cash FX purchases and comments that the Rupiah (IDR) is undervalued back stabilization efforts.

DBS Group Research economist Ma Tieying expects the Bank of Korea (BoK) to keep its base rate at 2.50% at the May 28 meeting, but now projects a single 25 bps hike in 3Q 2026 to 2.75%.

The US Dollar Index (DXY) is trading with a softer tone near the 98.10 area as markets continue reacting to rapidly shifting headlines surrounding the potential peace agreement between the United States (US) and Iran.

Gold (XAU/USD) edges higher on Thursday during the North American session amid heightened tensions in the Middle East due to rumors that the US is looking to restart Project Freedom. At the time of writing, XAU/USD trades at $4,705 after reaching a daily high of $4,764.