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Mexican Peso falls as Banxico cuts rates, Hormuz tensions rise
The Mexican Peso erases some of its earlier gains and drops some 0.13% as the USD/MXN pair advances after the Bank of Mexico (Banxico) cut rates and warned that the easing cycle has ended. The exotic pair trades at 17.27 after testing a low of 17.19.
Fxstreet
Thu, May 7
NZD/USD struggles as fragile US-Iran peace talks keep markets cautious
The NZD/USD pair is trading with a softer tone near the 0.5940 region on Friday, pressured by cautious market sentiment as investors continue tp react to rapidly changing headlines surrounding the potential peace agreement between the United States (US) and Iran.
Fxstreet
Thu, May 7
EUR/USD retreats from intraday highs as Oil prices rebound on Hormuz tensions
EUR/USD eases from intraday highs on Thursday as evolving geopolitical developments surrounding tensions in the Middle East help the US Dollar (USD) and Oil prices recover some losses after recent weakness.
Fxstreet
Thu, May 7
GBP/USD climbs as US-Iran peace hopes weaken US Dollar
GBP/USD advances by some 0.28% on Thursday as the US and Iran appear close to signing a peace deal that could reopen the Strait of Hormuz, while keeping issues—like the nuclear program—unresolved. At the time of writing, the pair trades at 1.3627.Fxstreet
Thu, May 7
USD/JPY muted as easing Middle East tensions weigh on US Dollar
The USD/JPY pair is currently trading around the 156.40 level, showing minimal change throughout the day. This stability comes as multiple reports indicate that the United States (US) and Iran are moving closer to a deal to resolve the over two-month-long conflict.Fxstreet
Thu, May 7
USD/CHF slides to two-month low as US-Iran deal hopes weigh on Dollar
The Swiss Franc (CHF) strengthens against the US Dollar (USD) on Thursday as renewed hopes for a possible US-Iran peace deal pressure the Greenback. At the time of writing, USD/CHF is trading around 0.7766, its lowest level since March 10.
Fxstreet
Thu, May 7
USD/CAD: Bear trend intact below 1.3645 – Scotiabank
Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is little changed as traders await US/Iran headlines and Friday’s Canadian employment data. USD/CAD trades near 1.36, with spot still above Scotiabank’s fair value estimate around 1.3514.
Fxstreet
Thu, May 7
GBP/USD: Election risks weigh on Pound – Societe Generale
Societe Generale’s team highlights that GBP/USD has edged higher, helped by lower Oil prices, risk correlations and Asian FX intervention-driven US Dollar (USD) selling. However, they stress that UK local elections and seasonal patterns pose downside risks.Fxstreet
Thu, May 7
EUR: European data mixed as fiscal and construction risks loom – BNY
BNY's Geoff Yu highlights that Euro area retail trade shows modest growth while Eurozone construction PMI signals a sharp contraction and rising cost pressures. German manufacturing orders and services turnover are improving, but France’s trade deficit is widening on energy imports.Fxstreet
Thu, May 7
EUR/GBP Price Forecast: Sellers retain control as momentum indicators stay bearish
EUR/GBP trades flat on Thursday as traders remain cautious ahead of the UK local election results, while also assessing the prospects of a possible US-Iran deal aimed at ending the war in the Middle East.
Fxstreet
Thu, May 7
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