Forex News Today

Carvana Co (NYSE: CVNA) has rebounded impressively over the past 2 years after a 98% decline between 2021 and 2022. The stock recovered most of its losses, forming a strong impulsive structure that signals further upside potential.

The Mosaic Company reported a profit of $238.1 million or 75 cents per share for first-quarter 2025, up from $45.2 million or 14 cents per share in the year-ago quarter.

Brazil Industrial Output (YoY) came in at 3.1%, above expectations (1.4%) in March

Brazil Industrial Output (MoM) registered at 1.2% above expectations (0.3%) in March

The Euro (EUR) is quietly consolidating within a tight range in the mid/upper1.13s, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Canadian Dollar (CAD) is soft, trading marginally lower from Tuesday’s multi-month recovery high, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The US Dollar (USD) is steady, attempting stabilization against most of the G10 currencies and clawing back some of its recent weakness against JPY, SEK, AUD, and NZD as we head into Wednesday’s NA session.

The Mexican Peso (MXN) is strengthening against the US Dollar (USD) on Wednesday, benefiting from renewed hopes of de-escalation in global trade tensions after positive developments between the United States and China.

The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades broadly flat to marginally higher on Wednesday at around 99.40. That level just a few percentage points away from the fresh five-day low…

After posting gains to start the week, GBP/USD edges lower and trades in negative territory below 1.3350 in the European session on Wednesday as investors gear up for the Federal Reserve’s (Fed) monetary policy announcements.

West Texas Intermediate (WTI), futures on NYMEX, aims to extend its two-day recovery move above the key resistance of $60.00 during European trading hours on Wednesday.

Function: Major Trend. Mode: Motive. Structure: Impulse. Position: Wave [iii] Navy.

United States MBA Mortgage Applications up to 11% in May 2 from previous -4.2%

US Federal Reserve (Fed) Chairman Jerome Powell explained the decision to leave the policy rate unchanged at the 4.25%–4.50% range following the May meeting and responded to questions during the post-meeting press conference.

Gold (XAU/USD) remains in steady trading on Wednesday around $3,390 at the time of writing and for most part in the European session, ahead of the Federal Reserve (Fed) rate decision and after statements from both China and the United States (US) confi…

The USD/CAD pair rises to near 1.3800 during European trading hours on Wednesday. The Loonie pair gains as the US Dollar (USD) edges up ahead of the Federal Reserve’s (Fed) interest rate decision at 18:00 GMT.

Outlook is mixed; US Dollar (USD) is likely to trade in a 7.1900/7.2300 range against Chinese Yuan (CNH). In the longer run, USD could range-trade for a few days before resuming its decline; the level to watch is at 7.1700, UOB Group’s FX analysts Quek…

USD/JPY struggles to sustain upward momentum, with a failure at key resistance and risks building for a deeper pullback toward 140 and below, Société Générale’s FX analysts note.

US Dollar (USD) is likely to consolidate in a 142.20/144.00 range. In the longer run, USD has likely entered a consolidation phase and is likely to trade between 142.20 and 146.70 for now, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

NZD/USD is consolidating recent gains around 0.6000. New Zealand’s Q1 labor market data was mixed and still argues for additional RBNZ easing, BBH FX analysts report.

Stocks are looking to their first gains of the week but need to navigate a trick Fed rate decision later in the session.

New Zealand Dollar (NZD) could break above 0.6030 vs US Dollar (USD) but might not be able to maintain a foothold above this level; 0.6060 is probably out of reach.

After a long period of uncertainty, it is now official: negotiations on a deal between the US and China are going to begin, Commerzbank’s Head of FX and Commodity Research Thu Lan Nguyen notes.

The Pound Sterling (GBP) trades cautiously to near 1.3370 against the US Dollar (USD) during North American trading hours on Wednesday.

Despite political noise out of Germany, EUR/USD held firm as markets eye the Fed for hints of dovishness and remain positioned for further USD weakness over the year, Danske Bank’s FX analysts report.

While some politically savvy people may have fallen off their chairs yesterday after the first round of voting for the new German Chancellor, the fx market seemed less than impressed, Commerzbank’s Head of FX and Commodity Research Thu Lan Nguyen notes.

European natural gas prices displayed plenty of strength yesterday, ING’s commodity experts Ewa Manthey and Warren Patterson note.

Apart perhaps from the US President, hardly any market participants are likely in any doubt that the US Fed will leave interest rates unchanged today.

The latest data published by the People’s Bank of China (PBOC) showed that China continued to build its Gold reserves for a sixth month in a row in April.

The AUD/USD pair breaks its three-day winning streak, trading around 0.6480 during the European hours on Wednesday. The technical analysis of the daily chart suggests a persistent bullish bias as the pair is moving upwards within the ascending channel …

News that the US and China will start trade talks this weekend has Brent crude trading higher, extending a relief rally in oil yesterday. Talks would be a sign of potential de-escalation in trade tensions.

Pound Sterling (GBP) is likely to trade in a range vs US Dollar (USD), expected to be between 1.3300 and 1.3400. In the longer run, the current price movements are part of a 1.3240/1.3450 range-trading phase, UOB Group’s FX analysts Quek Ser Leang and …

The Eurozone’s Retail Sales increased 1.5% year-over-year in March, following a revised 1.9% growth in February, according to official data released by Eurostat on Wednesday. Markets estimated a 1.6% figure.

Singapore Foreign Reserves (MoM) rose from previous 381.1B to 389.2B in April

Eurozone Retail Sales (MoM) came in at -0.1%, below expectations (0%) in March

Eurozone Retail Sales (YoY) registered at 1.5%, below expectations (1.6%) in March

Last night’s news that the US and China would begin formal trade talks on 10-11 May to de-escalate the tariff war saw the dollar briefly spike 0.4/0.5%.

China’s exports likely to plunge, but imports may also slow, mitigating the tariff impact on net exports. Import intensity has been falling due to ‘onshoring’ of production and economic rebalancing.

Watch the video from the WLGC session on 6 May 2025 to find out the following: The 2 key levels to watch for pullbacks.

The US Dollar Index (DXY), which tracks the value of the US Dollar (USD) against a basket of six major currencies, is trading around 99.50 during European hours on Wednesday, rebounding after losing over 0.50% in the previous session.

Sterling is trading steadily, but politics should be supportive this month. We’ve already seen a new UK-Indian trade deal announced yesterday, but speculation is rising that a US-UK trade deal could be reached this week, ING’s FX analyst Chris Turner n…

Price action did not result in any increase in either downward or upward momentum; Euro (EUR) is likely to trade between 1.1290 and 1.1390 vs US Dollar (USD).

United Kingdom S&P Global/CIPS Construction PMI: 46.6 (April) vs 46.4

It’s been quite an attractive story to tell that if German fiscal expansion caused the EUR/USD exchange rate to rise significantly in March (from 1.04 to 1.09), then a weakened Friedrich Merz should see EUR/USD fall a few figures back, ING’s FX analyst…

USD/CHF halts its three-day losing streak, hovering around 0.8250 during Wednesday’s European session as the US Dollar (USD) gains traction.