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US CB Consumer Confidence Index rose to 98.0 in May
- US CB Consumer Confidence Index rebounds in May.
AUD/USD slumps to near 0.6450 as progress in US-EU trade talks lifts US Dollar
The AUD/USD pair extends correction to near 0.6450 during North American trading hours on Tuesday from its six-month high of 0.6537 posted the previous day.
Fed's Barkin flags economic caution as inflation and fiscal strain linger
Richmond Fed President Thomas Barkin highlighted persistent uncertainty in the US economy, pointing to muted business activity, fiscal drag, and inflation expectations weighing on sentiment. While consumer spending remains resilient for now, policymakers are closely watching the evolving data.
US Pres. Trump: EU has called to quickly establish meeting dates
"I was extremely satisfied with the 50% tariff allotment on the European Union, especially since they were slow walking (to put it mildly!), our negotiations with them," United States (US) President Donald Trump said in a post published on Truth Social on Tuesday.
Gold Price Forecast: XAU/USD clings to Moving Average support below $3,300
Gold continues to trade within a narrowing consolidation range on Tuesday, following a record-setting rally earlier this year. After reaching an all-time high in April, the market has shifted into a holding pattern characterized by a descending wedge formation, reflecting a tightening momentum.
Silver Price Forecast: XAG/USD plummets below $33.00 as US-EU trade worries fade
Silver price (XAG/USD) dives almost 2% to near $32.80 during North American trading hours on Tuesday.
US Durable Goods Orders decline by 6.3% in April vs. -7.9% expected
Durable Goods Orders in the United States (US) declined by 6.3%, or $19.9 billion, in April to $296.3 billion, the US Census Bureau reported on Tuesday.
Mexican Peso steadies ahead of US Durable Goods Orders and Consumer Confidence data
The Mexican Peso (MXN) is losing momentum against the US Dollar (USD) a few hours before the US session starts, as the Greenback attempts a recovery.
USD/JPY climbs toward 144.00 as Yen weakens despite BoJ's hawkish signals, easing trade tensions lift the US Dollar
The Japanese Yen (JPY) is losing ground against the US Dollar (USD), retreating from a four-week high of 142.11 reached during early Asian trading hours on Tuesday.
ECB looks at Gold investments - Commerzbank
Gold is in high demand as a safe haven.
JPY is underperforming despite MoF engagement & hawkish BoJ Gov - Scotiabank
Japanese Yen (JPY) is weak, trading down 0.8% against the US Dollar (USD) and underperforming all of the G10 currencies in an environment of broad-based USD strength, Scotiabank's Chief FX Strategist Shaun Osborne notes.
GBP a relative outperformer despite softer CBI data - Scotiabank
Pound Sterling (GBP) is soft, down 0.15% against the US Dollar (USD) while showing relative outperformance against the G10 currencies, Scotiabank's Chief FX Strategist Shaun Osborne notes.
USD/CHF Price Forecast: Breaks trendline resistance, heading to the 0.8300 area
The US Dollar has bounced up from three-week lows, favoured by a brighter market mood.
China's Gold imports from Hong Kong rose sharply in April - Commerzbank
China's Gold imports from Hong Kong rose to almost 59 tons in April, nearly three times as much as in March and as high as a year ago, Commerzbank's commodity analyst Barbara Lambrecht notes.
USD/CAD: Minor USD rebounds are liable to attract renewed selling interest - Scotiabank
The Canadian Dollar (CAD) has slipped back amid the broader rebound in the USD vs US Dollar (YSD). USD gains have taken funds back to the mid/upper 1.37s and largely reflect the rebound in the USD rather than any CAD-negative development, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Oil prices remain stable: Possible production increases here and sanctions policy there - Commerzbank
The oil market is showing strength ahead of the OPEC+ meeting and the production decision due on Saturday by the eight cartel members who voluntarily cut production and are now considering a further significant withdrawal of these cuts in July, Commerzbank's commodity analyst Barbara Lambrecht notes
US Dollar ticks up after Japan limits debt issuances
The US Dollar Index (DXY), which tracks the performance of the Greenback's value against six major currencies, is tying up some minor gains, trading around 99.40 at the time of writing this Tuesday.
EUR a mid-performer with mixed data - Scotiabank
Euro (EUR) is soft, down 0.4% vs. the US Dollar (USD) and a mid-performer among the G10 as we head into Tuesday's NA session.
USD steadies but broader downtrend persists - Scotiabank
Markets should gear up a bit more after yesterday's subdued session and early trends suggest the USD may experience a limited rebound.
Why this rise in US yields is so remarkable - Commerzbank
At the beginning of the year, yields were higher, and in the fall of 2023 they were even significantly higher. And at that time, no one questioned the stability of US public finances. US government bond yields and the value of the US dollar have been closely correlated to date.
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