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AI-Enhanced Forex News Archive

Professional trading insights from Friday, May 30, 2025

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News Statistics for Friday, May 30, 2025

14
Total Articles
4
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Archive date: Friday, May 30, 2025

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Forexlive

Crude oil futures settle at $60.79

That's down $0.15 or -0.25% on the day.For the week, the price fell -1.59%. For the year, the price fell -15.43% This article was written by Greg Michalowski at www.forexlive.com.
Source: Finnhub
Forexlive

USD faces uncertainty amid US-China tensions, communication ongoing

The US dollar showed mixed performance in Asian trading as US-China relations remain strained despite ongoing diplomatic communications. China's spokesperson confirmed both nations continue dialogue over mutual concerns, following President Trump's earlier comments expressing skepticism about finding a permanent solution to bilateral issues. Trump stated the US will not trust China while China will not compromise its sovereignty, highlighting deep-rooted tensions affecting global trade flows. Currency markets are closely monitoring these developments as prolonged US-China friction could impact risk sentiment and safe-haven demand. The dollar index held near 104.50 as traders weigh geopolitical risks against upcoming US economic data. Further escalation in rhetoric could strengthen the dollar's safe-haven appeal, while any breakthrough in negotiations might pressure the greenback as risk appetite improves. Traders should watch for official statements from both governments for directional cues.
DXY
Sentiment: Neutral
Source: Finnhub
investing.com

USD/JPY rises as Japan inflation hits 2-year high, yen remains weak

USD/JPY advanced 0.4% to trade above 157.20 as the Japanese yen failed to capitalize on stronger-than-expected inflation data. Japan's core inflation accelerated to a 2-year high of 2.8% year-over-year in April, surpassing the Bank of Japan's 2% target and market expectations of 2.6%. Despite the robust inflation reading, the yen remained under pressure due to the significant interest rate differential between the US and Japan. The Federal Reserve's higher-for-longer stance contrasts sharply with the BoJ's ultra-accommodative policy, maintaining downward pressure on the yen. Technical indicators show USD/JPY testing resistance at 157.50, with momentum indicators suggesting further upside potential. Support sits at 156.80 (previous day's low). Traders are monitoring any shifts in BoJ rhetoric regarding policy normalization, though immediate intervention appears unlikely below the 160 threshold.
USDJPY
Sentiment: Positive
Source: Marketaux
Forexlive

USD weakens as April PCE inflation data expected to show cooling

The US Dollar Index has slipped 0.2% ahead of today's 12:30 GMT release of April PCE price index data, the Federal Reserve's preferred inflation gauge. Markets are positioning for another month of cooling inflation, with professional forecasters expecting the headline PCE to rise 0.3% month-over-month and core PCE to increase 0.2-0.3%. The anticipated data follows recent CPI and PPI readings that suggest moderating price pressures. A softer-than-expected reading could reinforce market expectations for Fed rate cuts later this year, potentially pushing the dollar lower against major currencies. Technical indicators show the DXY testing support at 104.50, with a break below potentially accelerating losses toward 104.00. Conversely, any upside surprise in inflation could trigger dollar strength as traders reassess the Fed's policy trajectory. Currency pairs to watch include EUR/USD, currently testing resistance at 1.0850, and USD/JPY hovering near 157.00.
EURUSD USDJPY
Sentiment: Negative
Source: Finnhub
investing.com

AUD/USD falls on weak retail sales, US court reinstates tariffs

AUD/USD declined 0.6% to 0.6520 following disappointing Australian retail sales data and renewed trade concerns after a US court decision. Australian retail sales rose just 0.1% month-over-month in April, significantly below the expected 0.3% increase, suggesting weakening consumer demand. The Australian dollar faced additional pressure after a US court reinstated certain tariffs, raising concerns about global trade dynamics and commodity demand. As a commodity-linked currency, the AUD remains vulnerable to shifts in global trade sentiment and China's economic outlook. Technical analysis shows AUD/USD breaking below the key 0.6550 support level, with next support at 0.6500 (psychological level). Resistance now sits at 0.6550 (former support turned resistance). The combination of domestic economic weakness and external trade headwinds suggests continued pressure on the Australian dollar in the near term.
AUDUSD
Sentiment: Negative
Source: Marketaux
investing.com

USD/CAD struggles at resistance as technical indicators diverge

USD/CAD is trading at 1.3680, showing mixed technical signals as the pair faces resistance following recent recovery attempts. The currency pair has gained 0.15% in early trading but remains capped below the key 1.3700 psychological level, which has acted as strong resistance over the past week. Technical indicators present conflicting signals, with the RSI showing neutral momentum at 52 while the MACD suggests potential bearish divergence. The 50-day moving average at 1.3665 provides immediate support, while a break above 1.3700 could open the path toward 1.3750. Canadian dollar strength has been supported by steady oil prices near $78 per barrel and expectations that the Bank of Canada may pause its rate-cutting cycle. Meanwhile, USD positioning remains cautious ahead of key US economic data. Traders should monitor the 1.3650-1.3700 range for directional cues, with a sustained break either way likely determining the near-term trend.
USDCAD
Sentiment: Neutral
Source: Marketaux
investing.com

Gold rises 0.8% on dovish Fed expectations and geopolitical tensions

Gold prices have climbed 0.8% to $2,342 per ounce, supported by increasing expectations of Federal Reserve rate cuts and escalating geopolitical tensions. The precious metal's advance comes as markets price in a 65% probability of a September rate cut following recent dovish comments from Fed officials. Geopolitical concerns in Eastern Europe and the Middle East have also boosted safe-haven demand, with gold futures volume increasing 15% above the 30-day average. The dollar's weakness, with DXY down 0.3% to 104.45, has made gold more attractive to international buyers. Technical analysis shows gold breaking above the $2,335 resistance level, with the next target at $2,360. The EUR/USD pair has benefited from dollar weakness, rising to 1.0845, while USD/JPY has declined to 156.80 as yen gains on risk-off sentiment. Traders await today's PCE inflation data, which could further influence Fed policy expectations and precious metal pricing.
EURUSD USDJPY
Sentiment: Positive
Source: Marketaux
investing.com

USD weakens as US consumer spending data disappoints

The US Dollar Index has declined 0.4% to 104.30 following weaker-than-expected US consumer spending data, raising concerns about economic momentum. Personal spending rose just 0.2% in April, missing the 0.4% forecast and marking the slowest growth in three months. The disappointing data has weighed on USD across major pairs, with EUR/USD advancing 0.35% to 1.0860 and USD/JPY falling 0.5% to 156.50. The Swedish krona showed particular strength, with EUR/SEK dropping 0.6% to 11.42 as risk sentiment improved in European markets. Market participants are reassessing Fed rate expectations, with futures now pricing a 70% chance of a September cut versus 60% before the data. Technical indicators suggest further USD weakness possible, with the DXY approaching key support at 104.00. The soft spending figures, combined with cooling inflation expectations, could prompt the Fed to adopt a more dovish stance in upcoming communications.
EURUSD USDJPY EURSEK
Sentiment: Negative
Source: Marketaux
Forexlive

EUR/USD dips as German retail sales disappoint despite upward revisions

EUR/USD edged lower by 0.1% to 1.0825 following weaker-than-expected German retail sales data for April. Monthly retail sales contracted 1.1%, significantly missing the 0.2% growth forecast, though prior month figures were revised higher from -0.2% to show stronger performance. The year-over-year reading came in at 2.3%, beating expectations of 1.8% and improving from the revised 2.2% previous reading. Despite the headline miss, the positive revisions and volatile nature of retail sales data limited the euro's downside. Market participants remain focused on the European Central Bank's policy trajectory, with this data unlikely to alter expectations for gradual rate cuts. Technical resistance for EUR/USD sits at 1.0850, while support emerges near 1.0800. The mixed data suggests continued range-bound trading for the pair in the near term.
EURUSD
Sentiment: Neutral
Source: Finnhub
investing.com

GBP/USD extends decline to 1.2640 amid persistent UK inflation concerns

GBP/USD has fallen 0.4% to 1.2640, marking its third consecutive day of losses as persistent UK inflation concerns weigh on sterling. The pair has broken below the key 1.2650 support level, with selling pressure intensifying after UK services inflation remained stubbornly high at 5.9%, well above the Bank of England's comfort zone. The US Dollar Index has gained 0.2% to 104.75, adding to the pound's woes. Technical indicators point to further downside potential, with the RSI at 42 suggesting bearish momentum without being oversold. The next support level sits at 1.2600, coinciding with the 100-day moving average. Market participants are pricing reduced odds of BoE rate cuts this year, but concerns about UK economic growth are offsetting any potential support from higher rates. A break below 1.2600 could accelerate losses toward 1.2550, while resistance now stands at the former support of 1.2650.
GBPUSD
Sentiment: Negative
Source: Marketaux
forexlive.com

USD/JPY rises on Tokyo inflation surge; US-China trade tensions weigh

USD/JPY advanced 0.4% to 157.20 during Asian trading as Tokyo's core CPI accelerated well above 3%, reinforcing expectations for potential Bank of Japan policy normalization. The inflation data sparked yen selling initially as traders positioned for a widening rate differential with the US. However, gains were capped by Treasury Secretary nominee Bessent's comments that US-China trade talks have stalled, raising concerns about regional economic stability. The development adds uncertainty to Asian currencies broadly, with potential spillover effects on risk sentiment. Technical indicators show USD/JPY approaching key resistance at 157.50, while support lies at 156.80. The conflicting forces of Japanese inflation pressures and geopolitical tensions create a complex trading environment. Traders should monitor upcoming BOJ commentary and any developments in US-China relations for directional cues.
USDJPY USDCNY
Sentiment: Positive
Source: Marketaux
Forexlive

USD/CNY faces pressure as US plans massive Taiwan arms sales boost

USD/CNY trading remains elevated near 7.25 as geopolitical tensions intensify following US plans to dramatically increase weapons sales to Taiwan. The proposed arms deals could exceed $18.3 billion, surpassing the entire amount sold during Trump's previous administration, potentially straining US-China relations further. Markets are pricing in increased safe-haven demand for the dollar against Asian currencies, though CNY weakness is being partially offset by PBOC intervention. The escalation comes as China continues military exercises near Taiwan, raising concerns about regional stability. Technical indicators show USD/CNY testing resistance at 7.2650, with support at 7.2300. Traders should monitor upcoming diplomatic developments and potential Chinese retaliatory measures, which could trigger additional volatility in the pair. The situation may also impact broader risk sentiment, affecting commodity currencies and emerging market forex pairs.
USDCNY
Sentiment: Positive
Source: Finnhub
forexlive.com

AUD/USD drops on weak retail sales and building permits data

AUD/USD declined 0.2% to 0.6485 in early Asian trading as disappointing Australian economic data weighed on the currency. Retail sales data came in below expectations, signaling weakening consumer demand, while building permits also disappointed, suggesting a cooling construction sector. The weak data reinforces market expectations that the Reserve Bank of Australia may pause its tightening cycle, putting additional pressure on the Aussie dollar. Technical analysis shows AUD/USD breaking below the 0.6500 psychological support level, with next support at 0.6470 (50-day moving average). Resistance now sits at 0.6520. The combination of soft domestic data and a relatively stronger US dollar continues to pressure the pair lower. Traders are awaiting next week's RBA meeting minutes for further clarity on monetary policy direction, which could determine whether the current downtrend accelerates.
AUDUSD
Sentiment: Negative
Source: Marketaux
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