Trading news

USD/JPY rallies past the 158.00 figure and also above the 20-day Simple Moving Average of 158.23, up by over 0.32% on Thursday as buyers target the 50-day SMA at 158.75 as the next key resistance.

NZD/USD slipped 0.4% on Thursday, drifting lower through the session to close at fresh daily lows. The pair has been confined to a broad range in recent weeks, unable to retest the early-March peak near 0.6120.

AUD/USD eased 0.5% on Thursday, pulling back from four-year highs as the session drifted steadily lower through the afternoon. The pair had been pressing against the 0.7280 area, the strongest territory since June 2022, and bullish momentum waned after the recent run higher.

The USD/JPY pair advances toward the 158.30 region on Friday, reaching its highest level in nearly two weeks as the United States (US) Dollar (USD) strengthens following resilient US economic data and rising Treasury yields.

Standard Chartered economists Christopher Graham and Carol Liao discuss the EU’s widening trade deficit with China, highlighting the autos sector as a key example of the imbalance.

South Korea Import Price Growth (YoY) climbed from previous 18.4% to 20.2% in April

South Korea Export Price Growth (YoY) rose from previous 28.7% to 40.8% in April

Argentina Consumer Price Index (MoM) registered at 2.6% above expectations (2.5%) in April

Silver price recoils toward a key support level below $84.00 as the Greenback stages a recovery, and traders, unable to crack $90.00, opted to book profits after solid US Retail Sales data. At the time of writing, XAG/USD trades at $83.53, down more than 4.40%.

Societe Generale strategists observe that USD/CNH has resumed its decline after repeated failures at the 50-DMA, which has capped rebounds since last year.

The US Dollar Index (DXY) rises toward the 98.80 region, reaching fresh two-week highs after US Retail Sales rose 0.5% in April, highlighting resilient consumer spending despite elevated borrowing costs.

Gold (XAU/USD) retreats by some 0.25% during the North American session on Thursday as tensions in the Middle East remain high, while the US-China summit is underway, with President Donald Trump meeting Chinese President Xi Jinping. At the time of writing, the XAU/USD pair trades at $4,678.

BNY’s Geoff Yu notes that stronger Chinese industrial profits and reflation allow firms to absorb modest Chinese Yuan (CNY) appreciation without undermining exporters.

Federal Reserve (Fed) Governor Stephen Miran submitted his resignation letter from the Fed board on Thursday, effective on or shortly before Kevin Warsh is sworn in as the Fed's next chair, since there is no other open seat on the seven-member board for Warsh to fill, and Miran's term had expired in

TD Securities economists Oscar Munoz and team revise their Fed outlook, now projecting no rate cuts in 2026 as persistent inflation pressures from the Iran conflict, elevated Oil and strained supply chains delay disinflation.

The US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, climbs to a two-week high on Thursday as traders ramp up expectations that the Federal Reserve (Fed) could keep interest rates elevated for longer following a fresh batch of strong US economic data.

Rabobank's Global Strategist Michael Every outlines China’s central role in current geopolitical and financial dynamics. Every covers Trump’s visit to Beijing and potential outcomes from US-China talks, questions over a possible Grand Bargain, and China’s leverage over Iran.

Bank of England (BoE) MPC member, Huw Pill, said that he does not expect second-round effects to be as strong as in 2022, and also that the second-round effects are behavioral, affected by what the BoE does next. He spoke at an event hosted by NatWest on Thursday.

USD/CAD extends gains on Thursday, rising for a third consecutive day, supported by renewed demand for the US Dollar (USD) as traders assess ongoing geopolitical developments alongside the latest US economic data, which reinforced expectations of a more hawkish Federal Reserve (Fed) stance.

EUR/USD edges lower for the third consecutive day during the North American session, down 0.22%, as US economic data showed consumers' resilience. In contrast, jobless benefits data showed a slight increase in the number of Americans filing for jobless benefits.