News
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USD steady as markets cheer planned US/China trade talks this weekend – Scotiabank
The US Dollar (USD) is steady, attempting stabilization against most of the G10 currencies and clawing back some of its recent weakness against JPY, SEK, AUD, and NZD as we head into Wednesday’s NA session.Fxstreet
Wed, May 7
Hyperliquid Price Forecast: HYPE bulls aim for the $25 mark as open interest reaches a new all-time high
Hyperliquid (HYPE), the decentralized perpetual trading platform and Layer 1 blockchain, edges higher and trades around $21.20 at the time of writing on Wednesday after rebounding nearly 6% so far this week.Fxstreet
Wed, May 7
Litecoin price runs into 6.83 million LTC resistance cluster as open interest expands
Litecoin (LTC) price gains bullish momentum, extending the previous day’s positive move to trade at $92 at the time of writing on Wednesday, as markets gauge the potential impact of the Federal Reserve’s (Fed) interest rates decision during the American session.
Fxstreet
Wed, May 7
USD/CNH is likely to trade in a 7.1900/7.2300 range – UOB Group
Outlook is mixed; US Dollar (USD) is likely to trade in a 7.1900/7.2300 range against Chinese Yuan (CNH). In the longer run, USD could range-trade for a few days before resuming its decline; the level to watch is at 7.1700, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.Fxstreet
Wed, May 7
USD/JPY: Likely to consolidate in a 142.20/144.00 range – UOB Group
US Dollar (USD) is likely to consolidate in a 142.20/144.00 range. In the longer run, USD has likely entered a consolidation phase and is likely to trade between 142.20 and 146.70 for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.Fxstreet
Wed, May 7
Merz elected after rocky start, Euro shrugs off drama – Commerzbank
While some politically savvy people may have fallen off their chairs yesterday after the first round of voting for the new German Chancellor, the fx market seemed less than impressed, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.Fxstreet
Wed, May 7
AUD/USD Price Forecast: Falls toward ascending channel lower boundary near 0.6450
The AUD/USD pair breaks its three-day winning streak, trading around 0.6480 during the European hours on Wednesday. The technical analysis of the daily chart suggests a persistent bullish bias as the pair is moving upwards within the ascending channel pattern.
Fxstreet
Wed, May 7
GBP/USD expected to be between 1.3300 and 1.3400 – UOB Group
Pound Sterling (GBP) is likely to trade in a range vs US Dollar (USD), expected to be between 1.3300 and 1.3400. In the longer run, the current price movements are part of a 1.3240/1.3450 range-trading phase, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Fxstreet
Wed, May 7
Bitcoin Price Forecast: BTC jumps above $97K on optimism over US-China trade talks
Bitcoin (BTC) price stabilizes at around $97,000 at the time of writing on Wednesday after rebounding 2.7% in the last two days. The crypto markets show optimism as US and Chinese officials are set to start talks this weekend to de-escalate the trade war.
Fxstreet
Wed, May 7
GBP: Trade deals can help – ING
Sterling is trading steadily, but politics should be supportive this month. We've already seen a new UK-Indian trade deal announced yesterday, but speculation is rising that a US-UK trade deal could be reached this week, ING's FX analyst Chris Turner notes.Fxstreet
Wed, May 7
EUR: Weakened Merz doesn't do too much damage – ING
It's been quite an attractive story to tell that if German fiscal expansion caused the EUR/USD exchange rate to rise significantly in March (from 1.04 to 1.09), then a weakened Friedrich Merz should see EUR/USD fall a few figures back, ING's FX analyst Chris Turner notes.Fxstreet
Wed, May 7
Ripple Price Forecast: XRP bullish comeback in focus ahead of US-China trade talks
Ripple (XRP) price is mum, holding firmly to support at $2.10, as consolidation extends on Wednesday, ahead of the Federal Reserve's (Fed) decision on interest rates and trade talks between the United States and China.
Fxstreet
Wed, May 7
