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Breaking: Japanese Yen strengthens on suspected FX intervention
The USD/JPY pair falls to around 156.15 during the early European session on Wednesday. The Japanese Yen (JPY) strengthens on suspected massive government interventions aimed at curbing its weakness against the US Dollar (USD).
Fxstreet
Wed, May 6
AUD/USD Price Forecast: Rallies to June 2022 high, closer to mid-0.7200s on weaker USD
The AUD/USD pair is seen building on the previous day's bounce from the 0.7135 region, or the weekly low, and gaining strong follow-through positive traction for the second straight day on Wednesday.
Fxstreet
Wed, May 6
Canadian Dollar gains ground as easing safe-haven demand weighs on US Dollar
USD/CAD extends its losses for the second successive day, trading around 1.3600 during the Asian hours on Wednesday. The pair retreats as the US Dollar (USD) softens on reduced safe-haven demand, driven by rising optimism over a potential deal with Tehran.
EUR/USD strengthens above 1.1700 as Trump announces pause on Project Freedom
The EUR/USD pair attracts some buyers to around 1.1720 during the Asian trading hours on Wednesday, bolstered by improved risk sentiment. US President Donald Trump said the Project Freedom and movement of ships through the Strait of Hormuz had paused.
Fxstreet
Wed, May 6
NZD/USD retakes 0.5900 and beyond as US-Iran peace deal hopes counter mixed NZ jobs data
The NZD/USD pair is seen building on the previous day's goodish rebound from the vicinity of mid-0.5800s, or the weekly low, and gaining positive traction for the second straight day on Wednesday.
Fxstreet
Wed, May 6
GBP/USD Stalls as US Dollar Drivers Dominate a Quiet UK Week
GBP/USD ended Tuesday near where it started, settling close to 1.3545 after a narrow session capped by resistance around 1.3550. Price has held a roughly 60-pip range across the past two sessions, with overlapping wicks pointing to a market lacking conviction in either direction.Fxstreet
Wed, May 6
USD/JPY Rises as Yen Intervention Fades, Buyers Target 160.00
USD/JPY advances some 0.48% on Tuesday as the Greenback remained steady during the session following last Thursday’s intervention in the FX markets by Japanese authorities, which bought the Yen, with the pair tanking nearly 2.50% or almost 400 pips. At the time of writing, the pair trades at 157.91.Fxstreet
Wed, May 6
CNY: Managed appreciation with petro support – NBC
National Bank of Canada (NBC) strategists Stéfane Marion and Kyle Dahms argue that the Chinese Yuan's (CNY) strength reflects more than US Dollar (USD) softness, pointing to growing energy-settlement flows and improving Chinese manufacturing and Producer Price Index (PPI) data.Fxstreet
Tue, May 5
NZD/USD recovers near 0.5890, but upside remains limited as USD stays supported
The NZD/USD pair is trading with a modest positive tone near the 0.5890 area on Tuesday, recovering some ground but still struggling to build sustained upside momentum as the US Dollar (USD) remains broadly supported.Fxstreet
Tue, May 5
USD/CAD Price Forecast: Bears remain in control below 1.3700
The USD/CAD pair trades in a narrow range on Tuesday, with choppy price action as a mild pullback in Oil prices puts modest pressure on the commodity-linked Canadian Dollar (CAD). At the time of writing, the pair is trading around 1.3619 after hitting an intraday low of 1.3604.USD/JPY: Upside risks grow with intervention threat – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note the Japanese Yen (JPY) is underperforming, with USD/JPY modestly higher and clearing the low 157s in thin holiday trade. Wider yield spreads and lingering intervention risk keep price action erratic.Fxstreet
Tue, May 5
EUR/USD holds firm as weaker US economic data and yields weigh on USD
The Euro (EUR) trades on the front foot against the US Dollar (USD) on Tuesday as a mild pullback in Oil prices pushes US Treasury yields lower, adding pressure on the Greenback. At the time of writing, EUR/USD is trading around 1.1701, rebounding from an intraday low of 1.1676.AUD/USD surges near 0.7197 after RBA hike, weakened US Dollar
The AUD/USD pair is surging near the 0.7190 price zone, building upside momentum after the Reserve Bank of Australia (RBA) delivered a fresh rate hike. Markets now shift their focus toward what comes next in the policy path.Fxstreet
Tue, May 5
GBP/USD rises as fragile ceasefire lifts risk appetite, trims USD
The Pound Sterling rises by over 0.20% as risk appetite improves. The ceasefire between the US and Iran, although fragile, is holding, pushing oil prices lower, the US Dollar lower, and US equities higher. Hence, the risk-sensitive GBP/USD pair trades at 1.3560, with buyers eyeing 1.3600.Fxstreet
Tue, May 5
AUD: RBA steady but risk of further hike – Standard Chartered
Standard Chartered’s Nicholas Chia notes the Reserve Bank of Australia (RBA) lifted the cash rate to 4.35% in an 8-1 decision, but Governor Bullock later softened the hawkish tone. The bank’s baseline is for no further hikes, though risks lean toward another move in H2 if growth stays above trend.Fxstreet
Tue, May 5
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