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DXY: Trump tariffs challenged - OCBC
US Dollar's (USD's) rebound found momentum from a US court ruling, saying that Trump's unilateral imposition of 'Liberation Day tariffs' under the International Emergency Economic Powers Act (IEEPA) is invalid.
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Thursday, according to FXStreet data.
New Zealand: RBNZ slashes OCR by 25 bps - UOB Group
As widely expected, the Reserve Bank of New Zealand (RBNZ) decided to lower the Official Cash Rate (OCR) for a sixth straight meeting by 25bps to 3.25%.
EUR: A leg to the downside - ING
EUR/USD is understandably lower on the US tariff news in that it slightly re-appraises US growth prospects and the risk premium attached to the US Dollar (USD), ING's FX analyst Chris Turner notes.
NZD/USD Price Forecast: Finds support at 0.5950 near nine-day EMA
NZD/USD is trading around 0.5960 during the European hours on Thursday. The pair has trimmed its daily losses as a market bias remains neutral.
EUR/USD: Interim downside pressure - OCBC
Euro (EUR) continued to drift lower amid broad US Dollar (USD) rebound. Pair was last at 1.1250 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Oil: Sentiment improves for now - ING
Oil markets strengthened yesterday as sanction risks against Russia increase, while the market appears to be losing hope that we'll see a nuclear deal between the US and Iran. This might've led to the eventual lifting of oil sanctions.
WTI rallies further, approaching $63.00 boosted by a ban on tariffs
WTI Oil prices accelerated their recovery on Thursday, as a US court ruling against Trump's tariffs boosted hopes for some normalisation in global trade, which will support crude demand.The US Court for International Trade ruled on Wednesday that Trump's unilateral trade tariffs overstep the US Cong
EUR/USD must first close below 1.1200 to continue falling - UOB Group
Further weakness is not ruled out; it is unclear whether Euro (EUR) can break and hold below 1.1200 against US Dollar (USD). In the longer run, to continue to decline, EUR must first close below 1.1200, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Pound Sterling rebounds in the aftermath of US court's verdict against Trump's tariffs
The Pound Sterling (GBP) recovers early losses against the US Dollar (USD), after hitting a bottom of 1.3415, and trades flat around 1.3470 during European trading hours on Thursday.
AUD/JPY maintains position above 93.50 due to risk-on sentiment
AUD/JPY continues its winning streak for the fifth successive day, trading around 93.60 during the European hours on Thursday.
USD/CHF Pride Forecast: Retraces below 0.8300
USD/CHF gives back the majority of early gains as the US Dollar retreats.
EUR/USD dips lower with the Dollar rallying after a US court ban on tariffs
EUR/USD is trading with moderate losses, around 1.1275 at the time of writing, after bouncing up from 1.1213 lows on the back of a significant US Dollar (USD) jump, following a US court ruling against trade tariffs.The three judges from the US Court of International Trade have voted unanimously agai
Chinese Commerce Ministry: China, US have maintained communications
Chinese Commerce Ministry said in a statement on Thursday, "China and US have used multilateral and bilateral occasions to maintain communications at various levels."
USD/CAD trades near 1.3800 after pulling back from weekly highs as Oil prices rise
USD/CAD loses ground after registering gains in the previous two consecutive sessions, trading around 1.3820 during the European hours on Thursday. The pair depreciates as the commodity-linked Canadian Dollar (CAD) receives support from improved crude Oil prices.
Silver Price Forecast: XAG/USD is forming a descending triangle with support at $32.60
Silver prices (XAG/USD) are showing moderate gains on Thursday, after bouncing up from the support area, at $32.60-32.70 but the broader picture remains mixed with price action contained within recent ranges.The fundamental background is unsupportive today.
Forex Today: Risk flows dominate markets ahead of US data
Here is what you need to know on Thursday, May 29:
EUR/GBP weakens below 0.8400 amid prospect of ECB rate cuts
The EUR/GBP cross remains under selling pressure around 0.8375 during the early European session on Thursday. The Euro (EUR) weakens against the Pound Sterling (GBP) due to weak Eurozone data. Later on Thursday, Bank of England (BoE) Deputy Governor Sarah Breeden is set to speak.
Japan's Trade Negotiator Akazawa: Want to meet with Bessent for ministerial talks
Japan's Chief Trade Negotiator and Economy Minister Ryosei Akazawa said on Thursday that he "wants to meet with US Treasury Secretary Scott Bessent this time" to conduct ministerial talks.
Crude Oil price today: WTI price bullish at European opening
West Texas Intermediate (WTI) Oil price advances on Thursday, early in the European session. WTI trades at $62.64 per barrel, up from Wednesday's close at $61.62.
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