USD/JPY traded cautiously around 156.80, down 0.2% as markets digest Trump's temporary pause on trade policies, creating mixed signals for dollar strength. The pause has prompted traders to reassess aggressive USD positioning built on tariff expectations, with the dollar index retreating from recent highs near 107.00. Market analysts suggest the trade policy uncertainty could fuel short-term dollar volatility, particularly against safe-haven currencies like the yen. Gold prices rose 0.5% to $2,650 as investors sought alternative havens amid policy confusion. NVIDIA's continued tech leadership provides some support for risk sentiment, limiting yen gains. Technical analysis shows USD/JPY testing support at 156.50, with resistance at 157.30. The pair's direction hinges on clarity regarding US trade policy implementation timeline and Federal Reserve's response to potential inflationary pressures from tariffs.
USDJPY
Sentiment:
Neutral
Source: Marketaux
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EURUSD
Sentiment:
Negative
Source: Marketaux
GBP/USD surged from mid-May lows to reach multi-year highs around 1.2800 on May 26th, marking an impressive rally of approximately 2.5% (300+ pips) over two weeks. The sterling's strength was driven by better-than-expected UK economic data and growing expectations that the Bank of England may maintain higher rates longer than previously anticipated. However, the pair now shows signs of exhaustion, with momentum indicators suggesting overbought conditions. Daily RSI readings above 70 and declining volume indicate the rally may be losing steam. Key resistance sits at the psychological 1.2800 level, while immediate support has formed at 1.2750. Traders should watch for potential profit-taking and consolidation in the near term. A decisive break above 1.2800 could target 1.2850, though failure to maintain current levels might trigger a correction toward the 1.2700 support zone.
GBPUSD
Sentiment:
Neutral
Source: Marketaux
US mortgage applications declined 1.2% for the week ending May 23, a significant improvement from the previous week's 5.1% drop. The market index fell to 235.7 from 238.5, driven primarily by weakening refinancing activity which dropped to 634.1 from 682.5. However, purchase applications showed resilience, rising to 162.1 from 157.8. The 30-year mortgage rate edged higher to 6.98% from 6.92%, approaching the psychologically important 7% threshold. These elevated rates continue to pressure the housing market and could impact consumer spending patterns. For forex traders, persistently high mortgage rates support the Federal Reserve's restrictive monetary policy stance, potentially providing underlying support for the US dollar. The mixed housing data suggests economic resilience despite rate pressures, keeping USD neutral against major pairs in the near term.
USD
Sentiment:
Negative
Source: Finnhub
The US dollar softened against major currencies during Asian and European trading sessions, with the DXY index declining 0.2% as risk sentiment deteriorated across global markets. Most Asian equity indices posted losses, with Japan's Nikkei falling 0.8% and Hong Kong's Hang Seng dropping 1.2%, prompting some safe-haven flows away from USD. European markets followed suit with modest declines averaging 0.5%. The dollar's weakness was particularly pronounced against traditional safe havens, with USD/JPY falling to 155.20 and USD/CHF declining to 0.9080. Market participants appear to be positioning cautiously ahead of upcoming US economic data releases. The softer dollar provided support for EUR/USD near 1.0830 and GBP/USD around 1.2770. Traders should monitor whether this dollar weakness extends into the US session or reverses as American markets open.
EURUSD
GBPUSD
USDJPY
USDCHF
Sentiment:
Neutral
Source: Marketaux
USD/CAD has surged above the 1.3800 psychological level, gaining 0.4% (55 pips) as the Canadian dollar weakens on multiple fronts. Oil prices declined 1.2% to $78.50 per barrel despite OPEC+ production decisions, weighing on the commodity-linked CAD. Markets are increasingly pricing in a potential Bank of Canada rate cut in coming months, with overnight index swaps showing a 65% probability of easing by September. Canadian economic data has disappointed recently, with retail sales contracting 0.3% month-over-month. Technical indicators suggest further upside potential, with the next resistance at 1.3850 (April highs). Support has formed at 1.3750, coinciding with the 50-day moving average. Traders should monitor oil price movements and upcoming Canadian GDP data for directional cues. A sustained break above 1.3850 could accelerate gains toward the 1.3900 region.
USDCAD
Sentiment:
Positive
Source: Marketaux
NZD/USD jumped 0.8% to 0.5680 following the Reserve Bank of New Zealand's 50 basis point rate cut to 3.75%, as lingering inflation concerns offset the dovish monetary policy move. The RBNZ acknowledged persistent price pressures despite easing, with Governor Orr noting inflation remains "uncomfortably high" at 2.8%. Markets interpreted the central bank's cautious tone as limiting scope for aggressive future cuts, supporting the kiwi dollar. EUR/USD gained 0.3% to 1.0565, while GBP/USD rose 0.4% to 1.2480, reflecting broad USD weakness. AUD/USD climbed 0.5% to 0.6320 in sympathy with NZD strength. Technical indicators show NZD/USD breaking above the 0.5650 resistance level, with next targets at 0.5720. The pair's resilience suggests markets are pricing in a slower easing cycle than initially anticipated.
NZDUSD
EURUSD
GBPUSD
AUDUSD
Sentiment:
Positive
Source: Marketaux
USD/JPY has climbed following the Bank of Japan's latest bond market operations, with the pair approaching the critical 145.00 resistance level. The yen weakened as the BoJ's actions reinforced expectations of continued monetary accommodation, contrasting sharply with the Federal Reserve's hawkish stance. Market participants are closely monitoring whether USD/JPY can sustain a break above 145.00, which would signal potential acceleration toward 146.00-147.00 range. The divergence in monetary policies remains the primary driver, with the Fed maintaining restrictive rates while the BoJ continues its ultra-loose policy framework. Technical indicators suggest bullish momentum building, though traders remain cautious of potential intervention risks at elevated levels. The pair's ability to clear and hold above 145.00 will be crucial for determining near-term direction, with support now established around 144.20-144.50 zone.
USDJPY
Sentiment:
Very Positive
Source: Marketaux
Gold prices faced significant pressure following robust US consumer sentiment data that exceeded market expectations, strengthening the US dollar across the board. The improved sentiment readings suggest continued economic resilience, potentially supporting the Federal Reserve's higher-for-longer rate stance. The Dollar Index gained momentum, weighing on gold's appeal as a non-yielding asset. EUR/USD retreated from recent highs as dollar strength reasserted itself, while AUD/USD also came under pressure despite commodity currency support. The stronger consumer sentiment data reinforces expectations that the Fed may maintain restrictive monetary policy, creating headwinds for gold and supporting USD pairs. Technical analysis shows gold testing key support levels, with a break below potentially accelerating losses. For forex traders, the data supports a bullish USD bias against major pairs in the near term, particularly against commodity-linked currencies.
EURUSD
AUDUSD
USD
Sentiment:
Positive
Source: Marketaux
EUR/USD remains anchored around the 1.13 level as markets await the Federal Reserve minutes for fresh directional cues. The pair has entered a consolidation phase after recent volatility, with traders reluctant to take significant positions before the Fed's policy insights. USD/JPY continues to show strength amid monetary policy divergence, while NZD/USD faces pressure from risk sentiment shifts. The USD/SEK pair also draws attention as Swedish economic concerns weigh on the krona. The upcoming Fed minutes could provide crucial guidance on the central bank's rate trajectory, potentially breaking EUR/USD out of its current range. Technical indicators suggest the pair is coiling for a decisive move, with resistance at 1.1350 and support at 1.1250. Traders are positioning for potential volatility, with the minutes likely to influence dollar pairs across the board through clarification of the Fed's economic assessment and policy outlook.
EURUSD
USDJPY
NZDUSD
USDSEK
Sentiment:
Neutral
Source: Marketaux
EUR/USD is trading near 1.0850, showing minimal movement as European equity markets opened virtually unchanged Wednesday morning. The Eurostoxx and Germany's DAX opened flat, while France's CAC 40 edged up 0.1% and Italy's FTSE MIB gained 0.4%, reflecting yesterday's positive momentum in US markets. However, the optimistic tone has shifted to caution with S&P 500 futures declining 0.1%, suggesting potential headwinds for risk assets. The subdued market activity indicates traders are awaiting fresh catalysts, with no major economic releases scheduled for the European session. Technical indicators suggest EUR/USD remains range-bound between 1.0820 support and 1.0880 resistance. The lack of directional conviction in both equities and currencies points to consolidation ahead of potential volatility triggers later in the week. Traders should monitor any shifts in risk sentiment that could influence the dollar's safe-haven appeal.
EURUSD
Sentiment:
Neutral
Source: Finnhub
USD/CHF has broken higher as improving risk sentiment and rising US Treasury yields flip the script on the traditionally safe-haven Swiss franc. The Dollar Index strengthened while US 5-year and 7-year yields climbed notably, increasing the yield differential in favor of the dollar. The Swiss franc's haven appeal diminished as global risk appetite improved, with investors rotating out of defensive positions. The move higher in USD/CHF reflects both dollar strength from higher yields and franc weakness from reduced safe-haven demand. Technical analysis shows the pair breaking above key resistance levels, with momentum indicators turning bullish. The combination of widening yield differentials and shifting risk dynamics suggests further upside potential for USD/CHF. Traders should monitor US yield movements and global risk sentiment as primary drivers, with the pair now targeting higher resistance zones around recent highs.
USDCHF
USD
Sentiment:
Very Positive
Source: Marketaux
NZD/USD rose 0.6% to 0.5650 after the Reserve Bank of New Zealand's split decision on rate cuts revealed internal disagreement about the pace of monetary easing. The RBNZ board voted 5-2 for a 50bp cut versus a smaller 25bp reduction, highlighting divided views on economic risks and inflation trajectory. This lack of consensus suggests the central bank may adopt a more measured approach to future rate cuts, providing unexpected support for the New Zealand dollar. Market pricing now reflects only a 60% probability of another 50bp cut at the next meeting, down from 85% pre-announcement. Technical analysis shows NZD/USD breaking above its 20-day moving average at 0.5630, with momentum indicators turning positive. The pair faces resistance at 0.5700, while support has formed at 0.5600. Traders are positioning for potential kiwi strength if inflation data remains sticky.
NZDUSD
Sentiment:
Positive
Source: Marketaux
USD/JPY traded in a narrow range around 156.50, caught between Federal Reserve's patient stance on rate cuts and mounting pressure for Bank of Japan policy normalization. The Fed's continued hawkish rhetoric supports dollar strength, with officials emphasizing no urgency to ease policy amid resilient US economic data. However, speculation grows that the BoJ may accelerate rate hikes as Japanese inflation remains above target at 2.3% and wage growth accelerates. Market positioning shows increased yen longs as traders bet on BoJ action potentially in March. Technical indicators reveal USD/JPY trapped between support at 155.80 and resistance at 157.20, with declining volatility suggesting a breakout approach. A decisive move above 157.20 could target 158.50, while a break below 155.80 might accelerate yen strength toward 154.00.
USDJPY
Sentiment:
Negative
Source: Marketaux
NZD/USD is consolidating near 0.6150 ahead of a pivotal week featuring three major catalysts that could determine the pair's direction. The Reserve Bank of New Zealand's upcoming rate decision is expected to maintain the Official Cash Rate at 5.50%, though any shift in forward guidance could impact the Kiwi dollar significantly. Markets are closely watching for dovish signals as New Zealand's inflation shows signs of cooling. Additionally, the release of FOMC minutes will provide insights into the Federal Reserve's thinking on future rate cuts, while Friday's US PCE inflation data - the Fed's preferred gauge - could influence dollar strength. Technical indicators show NZD/USD trapped between resistance at 0.6200 and support at 0.6100. A hawkish RBNZ stance could push the pair toward 0.6250, while disappointing guidance or stronger US data might pressure it below 0.6100 toward the 0.6050 region.
NZDUSD
Sentiment:
Neutral
Source: Marketaux
NZD/USD fell sharply by 0.5% (32 pips) to 0.6120 following the Reserve Bank of New Zealand's decision to cut interest rates by 25 basis points, bringing the Official Cash Rate to 4.25%. The decision included a dissenting vote, highlighting internal disagreement about the pace of monetary easing. The RBNZ cited weakening domestic economic conditions and subdued inflation pressures as justification for the cut, while maintaining a dovish bias for future meetings. Market participants had been divided on whether the central bank would cut or hold, making the move somewhat surprising. The presence of dissent suggests some board members favored maintaining rates, potentially limiting further aggressive easing. Technical analysis shows NZD/USD breaking below the 0.6150 support level, with next support at 0.6100. The rate cut reinforces the divergence between RBNZ and other major central banks, particularly the Fed, likely pressuring the kiwi dollar further in coming sessions.
NZDUSD
Sentiment:
Very Negative
Source: Marketaux
NZD/USD has bounced 0.2% to 0.5885 following the Reserve Bank of New Zealand's widely anticipated 25 basis point rate cut, bringing the Official Cash Rate down to 4.25%. The central bank cited easing inflation pressures as justification for the move, with annual CPI now tracking closer to the 1-3% target band. Interestingly, RBNZ minutes revealed some policymakers considered keeping rates unchanged, suggesting a more cautious approach to future easing. The initial dip in NZD/USD was quickly bought, indicating market participants had already priced in a more aggressive easing cycle. Technical indicators show immediate resistance at 0.5900, with support established at 0.5850. The pair's reaction suggests traders view the RBNZ's measured approach as potentially supportive for the kiwi dollar medium-term, especially if economic data continues to show resilience.
NZDUSD
Sentiment:
Neutral
Source: Marketaux
EUR/CNY remains stable at 7.8450 as China's Vice Commerce Minister Ling Ji met with German business representatives in Beijing, promoting investment opportunities for small and medium-sized enterprises. The high-level meeting emphasized strengthening bilateral trade relations and maintaining stable global supply chains, a positive signal for EUR/CNY cross flows. China's proactive approach to attracting German investment comes amid ongoing concerns about global trade fragmentation and supply chain resilience. The meeting highlighted mutual benefits of cooperation, with Chinese officials expressing commitment to free trade principles. This diplomatic engagement could support euro demand from Chinese importers and potentially increase bilateral FDI flows. Near-term, EUR/CNY faces resistance at 7.8600 while finding support at 7.8300. The constructive dialogue suggests reduced trade tensions between China and Europe, potentially benefiting both currencies against the backdrop of global economic uncertainty.
EURCNY
Sentiment:
Positive
Source: Finnhub
USD/JPY has slipped 0.1% to 156.80 following comments from Bank of Japan officials Kato and Governor Ueda, though the impact remains limited as markets digest mixed signals. The pair's modest decline reflects ongoing uncertainty about the BoJ's policy normalization timeline, with officials maintaining their data-dependent approach while acknowledging improving economic conditions. Recent yen weakness has kept intervention risks elevated, with the 157.00 level acting as a key psychological barrier. Technical analysis shows immediate support at 156.50, coinciding with the 21-day moving average, while resistance remains firm at 157.20. The muted reaction suggests traders are awaiting more concrete policy signals from the BoJ, particularly regarding the timing of further rate adjustments. With US yields remaining elevated, the interest rate differential continues to favor USD/JPY upside, though intervention concerns cap aggressive bullish positioning.
USDJPY
Sentiment:
Neutral
Source: Marketaux
The US dollar showed signs of weakness amid heightened geopolitical tensions following Trump's comments about Putin 'playing with fire' regarding Ukraine. The escalating rhetoric between the former US president and Russian leadership has increased market uncertainty, traditionally benefiting safe-haven currencies like the Japanese yen and Swiss franc at the dollar's expense. Russia's Medvedev responded sharply to Trump's statement, while Putin continues military operations in Ukraine, creating a complex geopolitical landscape. Currency markets are pricing in increased risk premiums, with traders monitoring potential sanctions implications and energy market disruptions. The dollar index (DXY) faces resistance at 104.50, with support emerging near 103.80. Continued escalation could drive further USD weakness against traditional safe havens, while any de-escalation might support dollar recovery. Traders should watch for official statements from both sides that could trigger rapid currency movements.
USDJPY
USDCHF
Sentiment:
Negative
Source: Finnhub