EUR/USD is trading slightly higher near 1.1325 during European trading hours on Monday (05/05), strengthening after hitting a three-week low of 1.1265 late last week. The major currency pair strengthened as the US dollar (USD) amid ongoing uncertainty over the United States (US)-China trade relations and as investors remained cautious ahead of the Federal Reserve (Fed) monetary policy announcement on Wednesday.
The US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, fell near 99.80 but traded within Friday's range.
Over the weekend, US President Donald Trump expressed confidence while speaking to reporters that bilateral trade deals with some of his trading partners could be announced this week. However, he confirmed that he would not have any dialogue with Chinese leader Xi Jinping this week, but did not deny that trade discussions were ongoing between officials from the two countries.
While the announcement of a bilateral trade deal by Washington suggests that concerns over US President Trump's proposed tariffs have now peaked, the long-running standoff between the world's two largest powers will continue to keep investors on their toes.
This week, the main trigger for the US dollar will be the Federal Reserve's (Fed) monetary policy meeting, which will be announced on Wednesday. The Fed is widely anticipated to leave interest rates unchanged in the range of 4.25%-4.50%. Hence, investors will be watching the monetary policy statement and Fed Chair Jerome Powell's press conference for cues on the interest rate outlook.
A better-than-expected Nonfarm Payrolls (NFP) data for April and high consumer inflation expectations in the face of Donald Trump's tariff policies will be the limiting factors for the Fed to cut interest rates.
Source: FXStreet
The euro continued to decline against the US dollar for the third consecutive day, driven by a strengthening dollar amid hopes that the US government shutdown would soon end. Furthermore, market expec...
EUR/USD is steady late during the North American session as investors digest a soft jobs report and shrugs off the shutdown of the US government. The lack of an agreement between the White House and D...
EUR/USD holds firm on Tuesday during the North American session, although the Dollar weakens due to fears of a possible government shutdown that could disrupt the release of crucial jobs data for Fed ...
EUR/USD registers gains of over 0.20% on Monday amid worries of a possible government shutdown in the US, while data in the Eurozone, showed that sentiment improved but failed to propel the shared cur...
EUR/USD continued its rally for the second consecutive session, trading around 1.1720 during the Asian session on Monday. The pair strengthened as the US dollar (USD) weakened after the August US infl...
The Hang Seng Index fell 0.7% to 25,842.83 as of 10:00 a.m. local time, following a pause in Wall Street's rally as the S&P 500 stalled and the Nasdaq slipped 0.2%. Pressure came from tech stocks: NetEase slumped 3.3% to HK$232.40, Alibaba fell...
Asian stock markets fell on Wednesday, as investors digested Japanese trade data and the formation of a new government in Tokyo. Japanese exports rose 4.2% year-on-year in September—breaking a four-month decline—but still below expectations of...
Japan's Nikkei Stock Average is down 0.7% at 48988.23, dragged by chip and metals stocks, as profit-taking kicks in following their recent surge. SoftBank Group is down 8.3%, Advantest is 2.8% lower while Sumitomo Metal Mining is down 5.3% and JX...
U.S. Treasury Secretary Scott Bessent said on Friday he expects to meet next week with Chinese Vice Premier He Lifeng in Malaysia to try to...
The 20-day US federal government shutdown is likely to end this week, White House economic adviser Kevin Hassett said on Monday.
"I think the...
Asia-Pacific stock markets opened higher on Monday (October 20th), as investors awaited the release of key economic data from China. Analysts expect...
The Federal Reserve will go into a policy meeting next week with its view of the economy obscured by a U.S. government shutdown that has suspended...