Trading news

Here is what you need to know on Wednesday, May 28:

Silver prices (XAG/USD) are posting moderate losses on Wednesday, weighed by the upbeat market sentiment, which is undermining demand for safe assets, and a firmer US Dollar.The Greenback is trading higher across the board, on the back of easing trade tensions, after Trump's decision to delay tariff

The EUR/GBP cross trades with mild gains around 0.8390 during the early European session on Wednesday. The Euro (EUR) strengthens against the Pound Sterling (GBP) amid the de-escalation of trade tensions between the European Union (EU) and the United States (US).

Turkey Economic Confidence Index up to 96.7 in April from previous 96.6

FX option expiries for May 28 NY cut at 10:00 Eastern Time vi a DTCC can be found below.

France Producer Prices (MoM) fell from previous -0.6% to -4.3% in April

France Consumer Spending (MoM) below expectations (0.8%) in April: Actual (0.3%)

France Gross Domestic Product (QoQ) in line with expectations (0.1%) in 1Q

France Nonfarm Payrolls (QoQ) came in at -0.1%, below expectations (0%) in 1Q

West Texas Intermediate (WTI) Oil price advances on Wednesday, early in the European session. WTI trades at $60.92 per barrel, up from Tuesday’s close at $60.89.

Sweden Trade Balance (MoM) declined to 6.6B in April from previous 12.8B

The USD/CHF pair gains ground to near 0.8285 during the early European session on Wednesday. Better-than-expected US Consumer Confidence data and improved risk sentiment provide some support to the US Dollar (USD).

The USD/CAD pair is seen prolonging this week's goodish recovery move from the 1.3685 area, or its lowest level since October 2024, for the third consecutive day on Wednesday.

EUR/JPY halts its two-day winning streak, trading around 163.30 during the Asian hours on Wednesday. The weakening of a bullish bias appears as the currency cross remains slightly below the lower boundary of the ascending channel, as suggested by the technical analysis of the daily chart.

The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, gains positive traction for the second consecutive day on Wednesday and moves further away from the monthly low touched earlier this week.

Gold price (XAU/USD) struggles to capitalize on a modest Asian session uptick and currently trades just below the $3,300 mark, close to the weekly low touched the previous day.

NZD/USD recovers its recent losses from the previous session, trading around 0.5970 during the Asian hours on Wednesday. The pair appreciates as the New Zealand Dollar (NZD) gains ground following the Reserve Bank of New Zealand's (RBNZ) interest rate decision.

Gold prices fell in India on Wednesday, according to data compiled by FXStreet.

The GBP/USD pair attracts some sellers to around 1.3480 during the Asian trading hours on Wednesday. The Greenback strengthens against the Pound Sterling (GBP) on the economic signs in the United States (US). 

EUR/USD continues its losses for the second successive day, trading around 1.1310 during the Asian hours on Wednesday.