Market news

USD/MXN rises to 20.40 supported by risk aversion

NZD/USD set to move back to 0.70 by early 2023 – ING

NZD/USD hits fresh lows since June 2020 in mid-0.6300s as risk assets hammered

Chile Trade Balance: $1071M (April) vs previous $1264M

WTI falls $4.0 bucks to the mid-$106.00s amid risk-off flows, China demand woes

US Dollar Index: Knee-jerk meets support around 103.50

United States Wholesale Inventories meets forecasts (2.3%) in March

BoE's Saunders: I am uncomfortable with where inflation expectations are, interest rates at 1.0% below neutral

USD/CAD Price Analysis: Bullish potential intact, seems poised to reclaim 1.3000 mark

EUR/NOK to reach the 10.50 mark if equity markets continue down and bond yields up – Nordea

EUR/USD continues to hold up well in mid-1.0500s despite risk-off conditions with focus on US CPI

USD/CAD: Break above 1.3020/41 to clear the way for further gains – Credit Suisse

Gold Price Forecast: XAUUSD to tumble on a daily close below $1,875 – TDS

NZD/USD set to extend its slump towards the 0.6230 mark – Credit Suisse

Copper to see higher prices again once the correction comes to an end – Commerzbank

USD/JPY pares intraday gains to its highest level since April 2002, downside seems limited

USD/CAD to enjoy considerable gains on a move beyond 1.2965 – Scotiabank

USD/JPY: Poised to challenge the 132.20 resistance – Credit Suisse

GBP/USD appears on track for a test of 1.20 – Scotiabank

BoE's Saunders: Inflation and key measures of longer-term inflation expectations are uncomfortably high

EUR/USD Price Analysis: Recovery now targets 1.0640

South Korea: Another rate hike in the pipeline? – UOB

AUD/USD holds above sub-0.7000 annual lows for now, even as global equities/commodities crater

GBP/USD rebounds swiftly from YTD low, retakes 1.2400 amid modest USD pullback

Canada Building Permits (MoM) registered at -9.3%, below expectations (-8%) in March

French President Macron: Wants majority votes for certain EU policy areas

Gold Price Forecast: XAUUSD could touch $2,050 on a break above $1,930 – ANZ

Fed's Bostic: 50 bps hike was an aggressive move, Fed can stay at that pace

Fed's Kashkari: Reiterates confidence that inflation will return to Fed's 2.0% target

Gold Price Analysis: XAU/USD sharply lower amid ongoing US yield rally, but supported above $1850s for now

Russia's Putin: There is no doubt Russia's “special military operation” will achieve a result

US Dollar Index Price Analysis: Further gains now target 105.00 and above

USD/IDR: Next hurdle aligns at 14,620 – UOB

EUR/JPY Price Analysis: The hunt for 140.00 remains well in place

Mexico Headline Inflation came in at 0.54%, below expectations (0.58%) in April

Mexico 12-Month Inflation came in at 7.68% below forecasts (7.72%) in April

Mexico Core Inflation came in at 0.78%, above forecasts (0.75%) in April

Silver Price Analysis: XAG/USD slides to fresh YTD low, further below $22.00 mark

USD/MYR could extend the uptrend beyond 4.40 – UOB

EUR/GBP sticks to modest gains around mid-0.8500s, lacks follow-through

USD/THB faces the next resistance at 34.75 – UOB

PBOC: Will keep economic operations within reasonable range

Ex-BOE’s Haldane: Inflation will be here “for years”

EUR/USD: Bears remain in control near 1.0500

USD/CAD eases from YTD peak, holds above 1.2900 amid stronger USD/sliding oil prices

GBP/USD: Next bearish target is located at 1.2250

Gold Price Forecast: XAU/USD extends losses towards $1,850 as USD rises with yields

BoE hiked rates amidst a cautious note – UOB

Singapore Foreign Reserves (MoM): 365.2B (April) vs previous 380.9B

Financial investors turn their backs on gold and silver – Commerzbank

GBP/USD recovers a bit after hitting fresh YTD low, keeps the red below 1.2300 mark

Russia’s Medinsky: Peace talks with Ukraine have not stopped, being held remotely

Natural Gas Futures: Downside should be short lived

Eurozone Sentix Investor Confidence worsens further to -22.6 in May vs. -20.8 expected

European Monetary Union Sentix Investor Confidence below expectations (-20.8) in May: Actual (-22.6)

EUR/USD to witness additional losses on a dip below 1.05

US Dollar Index looks firmer, advances to new highs near 104.20

USD/JPY could reach the 131.65 level – UOB

USD/JPY sticks to intraday gains above 131.00 mark, highest since April 2002

US Dollar Index to see further gains barring a much weaker than expected US CPI data – ING

Commodity currencies remain vulnerable to further correction lower in near-term – MUFG

GBP/USD looks headed to 1.20 – ING

USD upside potential becoming more limited – MUFG

Brexit News: EU envoy says open to start talks again on Northern Ireland protocol

EUR/USD to extend its slide toward 1.0350 on a break below 1.05 – ING

Gold Price Forecast: XAUUSD flirts with daily low amid rising US bond yields, stronger USD

Russian real GDP to contract around 10% this year and another 2.5% in 2023 – BMO

USD/CHF Price Analysis: Crosses 78.6% Fibo to renew 29-month high around 0.9950

Gold Price Forecast: XAUUSD to be well supported at $1,900 over next six months – ANZ

France Exports, EUR fell from previous €45.748B to €45.734B in March

France Imports, EUR up to €58.11B in March from previous €56.021B

France Imports, EUR fell from previous €56.021B to €28.11B in March

France Trade Balance EUR declined to €-12.37B in March from previous €-10.273B

France Current Account below forecasts (€-1.4B) in March: Actual (€-3.2B)

Forex Today: Dollar benefits from risk aversion to start the week

AUD/USD: Near-term trade below 0.70 is plausible – Westpac

USD/CNY: Continued Shanghai lockdown weighs on the yuan – Commerzbank

Copper to remain supported above the $10,000 level – ANZ

EUR/USD Price Analysis: Bears keep sight on key 1.0410 support

AUD/USD drops towards yearly low around 0.6965 as DXY refreshes two-decade amid flight to safety

NZD/USD drops to near 0.6340 as DXY prints fresh 19-year high, focus is on US inflation

Denmark Trade Balance increased to 24.6B in March from previous 17.5B

South Africa Gross $Gold & Forex Reserve above forecasts ($58.907B) in April: Actual ($60.28B)

Norway Manufacturing Output meets expectations (0.6%) in March

South Africa Net $Gold & Forex Reserve registered at $54.626B, below expectations ($55.712B) in April

Denmark Current Account rose from previous 20.4B to 25.3B in March

Platinum Price Forecast: XPT/USD tracks gold as sellers attack $950

Gold Price Forecast: XAUUSD looks south toward $1,850 as a flight to safety remains the key theme

IMF: Rising crude oil prices will worsen inflation

Crude Oil Futures: Further upside seems contained

NZD/USD: Hot US CPI to pummel the kiwi – ANZ

WTI recovers intraday losses on the dubious promise of more oil by the OPEC

AUD/USD seen challenging 0.6995 near term – UOB

Oil to trend higher even if equity markets start to fall – Morgan Stanley

Gold Futures: Extra gains look limited

Iron ore prices slump 6.0% over China’s downbeat imports

GBP/USD faces the next support at 1.2250 – UOB

Gold Price Forecast: XAUUSD to edge lower if US inflation peak is not at hand

EU's Borrell: Should seize Russian reserves to rebuild Ukraine

Indonesia Core Inflation (YoY) registered at 2.6%, below expectations (2.61%) in April

Gold Price Forecast: XAU/USD breaks weekly support amid broad risk-off mood, bears eye $1,850

GBP/USD Price Analysis: Set for a new low ahead of Inverted Flag break, 1.2250 eyed

Indonesia Inflation (YoY) registered at 3.47% above expectations (3.34%) in April

Indonesia Core Inflation (YoY) above forecasts (2.61%) in April: Actual (3.47%)

Indonesia Inflation (MoM) registered at 0.95% above expectations (0.83%) in April

USD/IDR Price News: Rupiah prints three-day downtrend below $14,600 on softer Indonesia GDP growth

EUR/USD risks further losses below 1.0470 – UOB

Indonesia Gross Domestic Product (YoY) above expectations (5%) in 1Q: Actual (5.01%)

Asian Stock Market: Tumbles on souring market mood, China’s Trade Balance mixed

Indonesia Gross Domestic Product (YoY) above expectations (5%) in 1Q: Actual (501%)

USD/JPY Price Analysis: Bulls flirt with 131.00 inside weekly rising wedge

Indonesia Gross Domestic Product (QoQ) registered at -0.96%, below expectations (-0.89%) in 1Q

China Trade Balance CNY came in at 325.08B, below expectations (441.88B) in April

China Exports (YoY) CNY below forecasts (16.4%) in April: Actual (1.9%)

China’s April Trade Balance: Mixed data fails to lift the aussie

USD/INR Price News: Indian rupee renews record low around 77.50 as risk-aversion propels USD

China Imports (YoY) came in at -2%, above forecasts (-3%) in April

China Trade Balance USD came in at $51.12B, above expectations ($50.65B) in April

China Exports (YoY) above forecasts (3.2%) in April: Actual (3.9%)

AUD/USD Price Analysis: Responsive buyers to defend 0.6970, pullback seems on the cards

EUR/USD eyes fresh 2022 low around 1.0500 on sour sentiment, fears of ECB vs. Fed divergence

Gold Price Analysis: XAU/USD to test $1,870 as risk-off impulse improves DXY’s appeal

China’s Premier Li warns 'grave' jobs crisis as covid lockdowns weigh

USD/JPY tracks options market optimism as bulls attack 131.00

ECB’s Rehn: Reasonable that we will rather sooner, in my view in July, start raising rates

USD/CNH Price Analysis: Bulls pierce 200-week SMA to renew 18-month high

AUD/JPY Price Analysis: Bears sinking in their teeth at H4 support

AUD/USD drops to fresh four-month low near 0.7000 on sour sentiment ahead of China trade data

Japan’s PM Kishida: Will take steps to phase out imports of Russian oil over time

Silver Price Analysis: XAG/USD stays directed towards $21.42 key support

GBP/USD drops back towards two-year low as sellers attack 1.2300, focus on Brexit, UK GDP

USD/CNY fix: 6.6899 vs. the last close of 6.6651

EUR/USD declines towards 1.0500, US inflation and ECB Lagarde in focus

NZD/USD is under pressure in a sea of red for equities

USD/CAD Price Analysis: Renews yearly high as bulls eye 1.2965

USD/CHF oversteps 0.9900 on firmer DXY, US inflation in focus

US 10-year Treasury yields refresh three-year high, S&P 500 Futures drop 1.0% as risk-aversion intensifies

Japan Jibun Bank Services PMI above expectations (50.5) in April: Actual (50.7)

Gold Price Forecast: XAU/USD bears moving in and taking out first key H4 support level

GBP/JPY Price Analysis: Keeps bounce off six-week-old support above 161.00

Currencies. Daily history for Friday, May 6, 2022

US Dollar Index stays firm around 20-year high on strong yields, focus on inflation

USD/JPY steadies around 130.80 despite the BOJ’s monetary policy minutes releases

BoJ Minutes: China's lockdown measures could exert significant downward pressure on Japan exports

Japan Labor Cash Earnings (YoY) registered at 1.2% above expectations (-0.3%) in March

AUD/USD Price Analysis: Bears brace for bumpy road to the south near 0.7050

EUR/JPY Price Analysis: Euro bulls eye an upside consolidation break, 140.00 looks likely

WTI drops to $108.00, snaps three-day uptrend despite G7 sanctions on Russia

USD/CAD reclaims 1.2910 on diverging Employment data, oil tumbles below 109.00

AUD/JPY Price Analysis: Bears approach 92.00 on rising wedge confirmation

NZD/USD eyes fresh two-year low under 0.6400 amid risk-aversion, China trade data eyed

GBP/USD to juggle in a 1.2320-1.2370 range as UK recession fears loom, US inflation in focus

EUR/USD Price Analysis: Accumulaiton kicking in, or just a respite on the way to test 1.0340?

Gold Price Forecast: XAU/USD sees no decisive bets at open on triangle formation

Weekend news and economic data risks for the open

USD/JPY Price Analysis: Bulls breaking out of bull flag

AUD/USD bears in town for the open, eyes on 0.70 the figure