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Forex Today: Markets turn risk-averse to start week
Here is what you need to know on Monday, May 19:
USD/CHF trades near 0.8350, pulls back from recent gains due to market caution
USD/CHF is retreating from gains made in the previous session, trading near 0.8360 during Asian hours on Monday. The decline follows a surprise downgrade of the US government's credit rating, which sparked renewed selling in the US fixed income market.
FX option expiries for May 19 NY cut
FX option expiries for May 19 NY cut at 10:00 Eastern Time via DTCC can be found below.
EUR/USD Price Forecast: Seems vulnerable below 1.1200, 200-period SMA on H4 holds the key
The EUR/USD pair ticks higher at the start of a new week amid a softer US Dollar (USD), though it lacks bullish conviction and remains below the 1.1200 round figure through the Asian session.
USD/INR rises on strong importer demand, foreign fund outflows
The Indian Rupee (INR) remains subdued against the US Dollar (USD) on Monday, continuing its losing streak for the sixth successive day. Moreover, fresh USD demand from importers and ongoing foreign fund outflows continue to weigh on the INR.
India Gold price today: Gold rises, according to FXStreet data
Gold prices rose in India on Monday, according to data compiled by FXStreet.
NZD/USD sticks to modest intraday gains below 0.5900 amid softer USD
The NZD/USD pair attracts some dip-buyers during the Asian session on Monday amid a modest US Dollar (USD) weakness, though it seems to struggle to capitalize on the move beyond the 0.5900 mark.
US House panel approves Trump tax cut bill, a possible vote on passage this week
A key congressional committee, the House panel, early Monday approved President Donald Trump's tax cut bill, paving the way for a possible passage in the House of Representatives later this week.
USD/CAD holds steady above mid-1.3900s amid mixed cues; remains confined in a familiar range
The USD/CAD pair struggles to gain any meaningful traction during the Asian session on Monday and remains confined in a familiar range held over the past week or so. Spot prices currently trade around the 1.3965-1.3970 region, nearly unchanged for the day amid mixed fundamental cues.
China's NBS: Economy grew steadily in face of pressure
Following the publication of the high-impact China's April activity data, the National Bureau of Statistics (NBS) expressed its outlook on the economy during its press conference on Monday.
GBP/USD holds gains around 1.3300 as US Dollar weakens following Moody's downgrade
The GBP/USD pair recovered from prior session losses, trading near the 1.3300 level during Asian session on Monday. The rebound is largely driven by renewed pressure on the US Dollar (USD) after Moody's Investors Service downgraded the US credit rating by one notch, from Aaa to Aa1.
US Treasury Sec. Bessent warns of tariffs rates to 'reciprocal' level if no trade deal
US Treasury Secretary Scott Bessent told CNN News on Sunday, President Donald "Trump has put them on notice that if you do not negotiate in good faith, you will ratchet back up to your April 2 level."
WTI sticks to modest intraday losses around $61.70, moves little after mixed Chinese data
West Texas Intermediate (WTI) US Crude Oil prices struggle to capitalize on Friday's move higher and attract fresh sellers at the start of a new week.
Lagarde speech: US Dollar weakened due to the uncertainty and loss of confidence in US policies
European Central Bank (ECB) President Christine Lagarde spoke in an interview with French media, La Tribune Dimanche, published on Saturday.
China's April Retail Sales grow 5.1%, Industrial Production beats with 6.1%
China's April Retail Sales rose 5.1% year-over-year (YoY) vs. 5.5% expected and 5.9% in March, the latest data released by the National Bureau of Statistics (NBS) showed Monday.
BoJ's Uchida: Will keep raising rates if economy, prices improve in line with our forecast
Bank of Japan (BoJ) Deputy Governor Shinichi Uchida said on Tuesday that the central bank "will keep raising interest rates if economy, prices improve in line with our forecast."
USD/JPY seems vulnerable near 145.00, over one-week low amid reviving safe-haven demand
The USD/JPY pair attracts fresh sellers on Monday and drops to over a one-week trough, around the 144.80 area during the Asian session.
PBOC sets USD/CNY reference rate at 7.1916 vs. 7.1938 previous
On Monday, the People's Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1916 as compared to Friday's fix of 7.1938 and 7.2057 Reuters estimate.
EUR/USD rises to near 1.1200, recovers as US Dollar weakens on fiscal concerns
EUR/USD rebounds from previous session losses, trading near 1.1190 during Monday's Asian session.
AUD/USD holds steady above 0.6400 ahead of Chinese macro data
The AUD/USD pair kicks off the new week on a subdued note and consolidates just above the 0.6400 round-figure mark during the Asian session.
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