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Forex Analysis

Japan’s Top FX Diplomat Mimura: US did not discuss FX levels at finance ministers' meeting

Atsushi Mimura, Japan’s Vice Finance Minister for International Affairs and top foreign exchange official, said early Thursday “ the US did not discuss FX levels at finance ministers' meeting.”

May 22, 2025 at 03:58:54 AM

GBP/USD rises to near 1.3450 ahead of UK PMI data

GBP/USD trades higher for the fourth successive day with trading around 1.3430 during the Asian hours on Thursday.

May 22, 2025 at 02:59:48 AM

New Zealand boosts bond program by NZ$4 billion over four years

New Zealand Finance Minister Nicola Willis presents the nation’s Budget on Thursday, with the key highlights noted below.

May 22, 2025 at 02:19:31 AM

BoJ’s Noguchi: Japan’s economy is growing steadily

Bank of Japan (BoJ) board member Asahi Noguchi said on Thursday that the Japanese economy is growing steadily. Noguchi further stated that the central bank is likely to keep adjusting the policy rate, while carefully assessing whether underlying inflation would be stabilising around 2%.

May 22, 2025 at 01:51:13 AM

PBOC sets USD/CNY reference rate at 7.1903 vs. 7.1937 previous

The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Thursday at 7.1903 as compared to the previous day's fix of 7.1937 and 7.2009 Reuters estimate.

May 22, 2025 at 01:15:55 AM

Japan’s Kato says unsustainable imbalance in some countries behind trade imbalance

US Secretary Scott Bessent and Japan’s Finance Minister Shunichi Kato discussed important issues pertaining to the US-Japan economic relationship, including global security and the ongoing bilateral trade discussions between the US and Japan.

May 21, 2025 at 11:37:34 PM

Australia's Judo Bank Manufacturing PMI comes in at 51.7 in May, Services PMI eases to 50.5

The preliminary reading of Australia's Judo Bank Manufacturing Purchasing Managers Index (PMI) came in at 51.7 in May versus 51.7 prior, the latest data published by Judo Bank and S&P Global showed on Thursday.

May 21, 2025 at 11:12:21 PM

Loonie strengthens for third day as core inflation rises, US Dollar stumbles

The Canadian Dollar (CAD) strengthens further against the US Dollar (USD) on Wednesday, marking a three-day rally, with USD/CAD slipping below 1.3900 as markets digest stronger-than-expected Canadian inflation figures and a broadly subdued Greenback.

May 21, 2025 at 12:28:50 PM

JPY showing impressive gains vs. USD – Scotiabank

Japanese Yen (JPY) is entering Wednesday’s NA session with an impressive 0.4% gain vs. the US Dollar (USD), a mid-performer among the G10 in an environment of broad-based USD weakness, Scotiabank's Chief FX Strategist Shaun Osborne notes.

May 21, 2025 at 12:03:23 PM

GBP trades to fresh multi-year high – Scotiabank

Pound Sterling (GBP) is entering Wednesday’s NA session with a 0.1% gain again the US Dollar (USD) but losses against most of the remaining G10 currencies, trading erratically in response to the release of stronger than expected inflation data, Scotiabank's Chief FX Strategist Shaun Osborne notes.

May 21, 2025 at 12:00:25 PM

AUD/USD: Break-out soon? – OCBC

Australian Dollar (AUD) fell post-dovish RBA yesterday. AUD last at 0.6445 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

May 21, 2025 at 11:57:24 AM

CAD gets a mild tailwind from narrower spreads after CPI to press gains on USD – Scotiabank

Yesterday’s hotter than expected April CPI data served to dampen expectations of a June BoC rate cut, putting some moderate, downward pressure on US/Canada interest rate spreads, Scotiabank's Chief FX Strategist Shaun Osborne notes.

May 21, 2025 at 11:46:06 AM

EUR strengthens as policymakers speak to end of ECB easing cycle – Scotiabank

Euro (EUR) is up 0.5% vs. the US Dollar (USD) and a mid-performer among the G10 in an environment of broad-based USD weakness, Scotiabank's Chief FX Strategist Shaun Osborne notes.

May 21, 2025 at 11:36:29 AM

USD/CNH: Likely to trade in a 7.1850/7.2450 range – UOB Group

Downward momentum has largely faded; US Dollar (USD) is likely to trade in a 7.1850/7.2450 range for now against Chinese Yuan (CNH), UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

May 21, 2025 at 11:29:50 AM

USD/JPY: Bias for USD is on the downside – UOB Group

There is scope for US Dollar (USD) to edge lower to 143.80 vs Japanese Yen (JPY); a sustained break below this level seems unlikely. In the longer run, the bias for USD is on the downside toward 143.80, potentially to 143.30, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

May 21, 2025 at 11:10:32 AM

NZD/USD: Outlook remains mixed – UOB Group

New Zealand Dollar (NZD) is likely to trade in a sideways range of 0.5905/0.5945 against the US Dollar (USD). In the longer run, outlook remains mixed, but NZD is likely to trade in a tighter range of 0.5835/0.5985, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

May 21, 2025 at 10:38:17 AM

China Gold imports surge – ING

China's Gold imports surged to an 11-month high last month despite record-high prices, according to customs data, ING’s commodity analysts Warren Patterson and Ewa Manthey note.

May 21, 2025 at 10:33:25 AM

AUD/USD: Likely to trade in a sideways range of 0.6400/0.6450 – UOB Group

Australian Dollar (AUD) is likely to trade in a sideways range of 0.6400/0.6450 vs US Dollar (USD). In the longer run, outlook is mixed; AUD is likely to trade in a range between 0.6370 and 0.6480, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

May 21, 2025 at 09:52:56 AM