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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
EUR/USD: Range trade persists with hawkish ECB – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret highlight that the Euro (EUR) is flat versus the US Dollar (USD), with EUR/USD stuck in a range as markets weigh conflict-related inflation risks and a hawkish European Central Bank (ECB) stance.Fxstreet
Tue, May 5
GBP/JPY rises as Oil-driven Yen weakness and BoE-BoJ rate gap sustain bullish bias
GBP/JPY edges higher on Tuesday as the Japanese Yen tumbles across the board, with the impact of Tokyo’s intervention fading and attention shifting back to ongoing tensions in the Middle East. At the time of writing, the cross is trading around 213.90, up nearly 0.53% on the day.
USD/CAD: Bearish bias holds below resistance – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is slightly firmer with USD/CAD holding near prior ranges. A softer US Dollar (USD) and firmer risk appetite are seen as mildly supportive for the CAD, while fair value has shifted lower toward 1.3424.Fxstreet
Tue, May 5
USD/INR edges lower after record high, downside limited by geopolitical risks
USD/INR trades slightly lower on Tuesday, pressured by a modest pullback in the US Dollar (USD), though the downside remains limited as ongoing geopolitical tensions continue to weigh on the Indian Rupee (INR).Fxstreet
Tue, May 5
USD/JPY hits session highs near 158.00 on rising US-Iran tensions
The US Dollar (USD) keeps crawling higher against the Japanese Yen (JPY) for the third consecutive day on Tuesday. The pair has reached the upper range of the 157.00s, trading at 157.65 at the time of writing, as the escalating tensions in the Strait of Hormuz boost the safe-haven US Dollar.Fxstreet
Tue, May 5
USD/CAD rebound falters above 1.3600 as Oil prices support the Loonie
The US Dollar (USD) shows minor losses against the Canadian Dollar (CAD) on Tuesday, although it remains steady above 1.3600 so far, trading at 1.3515 at the time of writing and holding most of the last two trading days' gains, after bouncing from Friday’s lows at 1.3550.A moderate risk aversion isFeatured Tools
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