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Fed's Waller: Tariffs will be a one time price increase
In an interview with Fox Business on Thursday, Federal Reserve (Fed) Governor Christopher Waller reiterated that he continues to believe that tariffs will cause a one-time increase in prices and added that the Fed's standard playbook is to look through one-time price impacts, per Reuters.
ECB Accounts: Inflation expected to hover close to target of 2% for remainder of year
The accounts of the European Central Bank's (ECB) April policy meeting showed on Thursday that policymakers had increased confidence that inflation would return to target in line with the March baseline projections.
JPY outperforming with modest gain - Scotiabank
Japanese Yen (JPY) is entering Thursday's NA session with a modest gain against the US Dollar (USD), a lone performer in an environment of mild (albeit broad-based) USD strength, Scotiabank's Chief FX Strategist Shaun Osborne notes.
GBP trading well despite deeply contractionary mfg PMI - Scotiabank
Pound Sterling (GBP) is down 0.2% against the US Dollar (USD) and a mid-performer among the G10, trading relatively well despite a generally disappointing preliminary PMI release, Scotiabank's Chief FX Strategist Shaun Osborne notes.
CAD steady, risk reversal pricing, technical lean bullish - Scotiabank
The Canadian Dollar (CAD) is down marginally, reflecting the minor lift in the US Dollar (USD) generally more than anything else.
USD consolidates as Treasurys steady - Scotiabank
The US Dollar (USD) is consolidating. Global market sentiment remains soft, following yesterday's hefty US equity market losses. Asian and European stocks are down and US equity futures are narrowly mixed, Scotiabank's Chief FX Strategist Shaun Osborne notes.
EUR soft but in range as markets digest disappointing PMIs/stronger IFO - Scotiabank
Euro (EUR) is entering Thursday's NA session with a 0.3% decline against the US Dollar (USD) and underperforming most of the G10 currencies with the exception of SEK and NZD, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Bessent and Kato commit to market-determined exchange rates - Commerzbank
This US administration does not formulate any doctrine or strategy in important policy areas that could serve as guidelines for current policy measures.
AUD/USD slips below 0.6420 ahead of US PMI data
The Australian Dollar (AUD) inches lower against the US Dollar (USD) on Thursday, erasing earlier gains. The AUD/USD pair is holding within a narrow range, down 0.50% at the time of writing, to trade around 0.6420 in the European trading hours.
USD/JPY Price Forecast: Flattens around 143.50
The USD/JPY pair recoups its initial losses and flattens around 143.50 during European trading hours on Thursday. The pair rebounds as the US Dollar (USD) attracts bids on Thursday after a three-day losing streak.
AUD slips as soft PMI reinforces RBA dovishness - BBH
AUD/USD remains under pressure as weak May PMI data supports expectations for RBA rate cuts. The pair struggles to hold above its 200-DMA, with markets now pricing in 75bps of easing over the next year, BBH FX analysts report.
USD/JPY slips as JGB yields surge and BoJ signals caution - BBH
USD/JPY had a brief uptick after the US and Japan confirmed existing currency policy and did not discuss foreign exchange levels. USD/JPY subsequently edged lower while Japanese government bond yields are breaking higher at the long-end of the curve, BBH FX analysts report.
Gold retreats as US Dollar rebounds, outlook remains firm on US debt concerns
Gold price (XAU/USD) gives up its intraday gains and falls back to near $3,300 during European trading hours on Thursday after revisiting the two-week high around $3,345 earlier in the day.
US House Passes Trump tax bill, sends it to Senate
United States (US) President Donald Trump's sweeping tax and spending bill passed the Republican-controlled House of Representatives on Thursday. The bill will now move to the Senate floor.
EUR/GBP rises after UK inflation surprise challenges BoE outlook - Danske Bank
EUR/GBP ended the day higher following UK inflation data for April surprising significantly to the topside, relative to both consensus and BoE estimate, Danske Bank's FX analysts report.
ECB's Holzmann: The Euro's importance as a global currency is set to increase
European Central Bank (ECB) policymaker Robert Holzmann said on Thursday, "the Euro's importance as a global currency is set to increase."
Current upward bias to remain intact above the 55-day EMA - UOB Group
Improving upward momentum indicates EUR/USD could maintain its upward bias; it is premature to expect a retest of the 1.1573 high, UOB Group's FX analyst Quek Ser Leang reports.
When consensus on the 'safe haven' characteristic breaks down - Commerzbank
In times of increasing 'geostrategic uncertainty', the US Dollar has recently been tending to weaken rather than strengthen. The more this price behavior of the US currency becomes apparent, the more it could intensify, Commerzbank's Head of FX and Commodity Research Ulrich Leuchtmann notes.
G7 FX talks fuel USD bearishness - Danske Bank
EUR/USD edged higher above 1.13 as the USD continues to soften in an otherwise relatively quiet week for G10 FX, Danske Bank's FX analysts report.
USD: Trading US deficit fears - ING
Yesterday, we suggested that the G7 finance ministers' meeting in Canada could produce USD-supportive headlines, particularly if there were signs of easing trade tensions.
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