The Japanese Yen (JPY) continued to strengthen against the US Dollar (USD) on Tuesday (5/20), marking a second straight day of gains amid broad USD weakness, although the USD/JPY pair traded flat near 144.75 during American hours. The pair dipped to an intraday low of 144.09 during early Asian trading hours before bouncing back during the European session. In contrast, the US Dollar Index (DXY), which measures the USD against a basket of six major currencies, remained subdued for the second day as sentiment weakened following Moody's downgrade of the US credit rating from Aaa to...
GBP/USD edged higher on Tuesday (5/20), edging closer to (but still not quite reaching) the 1.3400 level. Cable is heading into a series of key inflation and business outlook data releases, with UK Consumer Price Index (CPI) inflation due on Wednesday, with UK and US Purchasing Managers' Index (PMI) surveys due on Thursday. Trade headlines remain the main driver of global markets this week. Investors remain hopeful that a deal will be reached with the US that would prompt the Trump administration to move the tariff weapon away from its own economy, but the steady march into the unknown is...
EUR/USD caught a bounce for a second day in a row on Tuesday, bolstering the pair back toward the 1.1300 handle. Despite a near-term rise in bullish momentum bolstering the Fiber, EUR/USD remains well back from recent multi-year highs near 1.1575. The pair has found a firm technical floor from key moving averages, and overall market sentiment remains hopeful that traders will be able to keep finding reasons to hit the buy button. Tariffs dominate market perception, but US data looms aheadEuropean policymakers are currently wrapped up in G7 meetings, minimizing the trickle of noteworthy...
The Japanese yen strengthened past 144 per dollar on Wednesday, marking its seventh consecutive session of gains, as investors digested Japan's trade data while awaiting developments from the G7 meeting. Tokyo's trade deficit narrowed sharply in April 2025, though it defied market expectations for a surplus. Exports rose for the seventh consecutive month, but at the slowest pace in the current sequence amid concerns over looming US tariffs. Meanwhile, imports declined for the second month this year, though the drop was smaller than forecasted. Japan's chief trade negotiator, Ryosei...
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $62.95 during the Asian trading hours on Wednesday. The WTI price surges after CNN reported that US intelligence suggests Israel is making preparations to possibly strike Iranian nuclear facilities. The United States (US) has obtained new intelligence suggesting that Israel is making preparations to strike Iranian nuclear facilities, even as US President Donald Trump has been pursuing a diplomatic deal with Tehran, multiple US officials familiar with the latest intelligence told CNN. It isn't clear that Israeli...