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US Dollar Index weakens as confidence and labor data disappoint
US Dollar Index weakens as confidence and labor data disappoint
The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of currencies, is showing muted gains on Tuesday after soft labor market and consumer sentiment data raised expectations for policy easing.
Technical Analysis
Currencies
DollarIndex
USD/CHF holds ground after tariff relief, jobs data
USD/CHF holds ground after tariff relief, jobs data
The USD/CHF pair is trading around 0.8900 during the North American session on Tuesday, benefiting from broader US Dollar (USD) strength.
Technical Analysis
Majors
USDCHF
Macroeconomics
USDJPY slips to new session low as sellers eye key support zone
USDJPY slips to new session low as sellers eye key support zone
USDJPY falls to a fresh low at 141.96 as downward trend continues due to decreasing U.S. yields, eyeing retest of key support levels at 139.89 and 139.57.
EUR/CAD: Euro steadies near 1.5800 as bullish trend holds despite mixed signals
EUR/CAD: Euro steadies near 1.5800 as bullish trend holds despite mixed signals
The EUR/CAD pair was seen trading around the 1.5800 zone after the European session on Tuesday, showing little movement on the day after a slight decline. Despite the minor dip, the overall technical setup stays bullish.
Crosses
Technical Analysis
Currencies
EURCAD
Bullish
EUR/USD Price Analysis: Bullish trend holds despite minor pullback after European session
EUR/USD Price Analysis: Bullish trend holds despite minor pullback after European session
The EUR/USD is flashing a bullish tone on Tuesday’s session after the European close, even as the pair slightly retraced from earlier highs and now trades near the mid-1.13 to low-1.14 area. Despite a modest dip during the session, broader technical signals continue to suggest upside potential.
Technical Analysis
Currencies
EURUSD
Majors
Bullish
EURUSD still stuck. Buyers fail to extend range.
EURUSD still stuck. Buyers fail to extend range.
The range for the day is only 52 pips which is well below the one month average of 140 pips
GBP/USD slips below 1.34 as risk rally fades, US data disappoints
GBP/USD slips below 1.34 as risk rally fades, US data disappoints
The Pound Sterling (GBP) depreciates against the US Dollar (USD) and falls after testing the year-to-date (YTD) high of 1.3443. However, it fails to remain above 1.34 as it extends its losses. At the time of writing, GBP/USD trades at 1.3379, down 0.29%.
Technical Analysis
Currencies
Majors
GBPUSD
Fundamental Analysis
AUDUSD breaches critical support, signaling bearish shift. Risk is now 0.6395 for sellers
AUDUSD breaches critical support, signaling bearish shift. Risk is now 0.6395 for sellers
AUDUSD breaks below key support zone, signaling a bearish shift in short-term bias. Sellers gain momentum as price targets lower levels, with focus on 0.6321-0.6343 range
USDCHF consolidates between key moving averages after rebound stalls near retracement
USDCHF consolidates between key moving averages after rebound stalls near retracement
USDCHF stuck between key moving averages after failed rebound; Breakout needed for short-term bias shift
Crude Oil Analysis Today (29 April, 2025)
Crude Oil Analysis Today (29 April, 2025)
The latest analysis of the day on crude oil futures, indicating strong bearish sentiment. Key resistance levels and strategic trading recommendations revealed for traders seeking to navigate this volatile market. Watch these exact prices for guidance...
The USD is higher vs 3 major pairs to start the new US day & back between 100/200 hour MAs
The USD is higher vs 3 major pairs to start the new US day & back between 100/200 hour MAs
Traders are waiting for the next shove for each of the 3 major pairs - the EURUSD, USDJPY and GBPUSD
JPY underperforming along with haven peer CHF – Scotiabank
JPY underperforming along with haven peer CHF – Scotiabank
The Japanese Yen (JPY) weakened by 0.5% against the dollar, underperforming even fellow haven currencies, as markets brace for soft domestic data and upcoming US-Japan trade negotiations.
Technical Analysis
USDJPY
Banks
Fundamental Analysis
GBP fades modestly from fresh multiyear high – Scotiabank
GBP fades modestly from fresh multiyear high – Scotiabank
Pound Sterling (GBP) soft, down 0.3% against the US Dollar (USD) and trading in tandem with EUR in an environment of broad-based USD strength, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Technical Analysis
Banks
GBPUSD
EUR: ECB CPI expectations surprise w/ markets still pricing June cut – Scotiabank
EUR: ECB CPI expectations surprise w/ markets still pricing June cut – Scotiabank
Euro (EUR) is soft, down 0.3% against the US Dollar (USD) and a mid-performer among the G10 in an environment of broad-based USD strength, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Technical Analysis
EURUSD
Banks
CAD steady despite election delivering another minority government – Scotiabank
CAD steady despite election delivering another minority government – Scotiabank
The Canadian election results brought disappointment for pretty much everyone—the Liberals won, but are short of a majority, the Conservatives saw a jump in popular support but their leader failed to hold his own riding while both the NDP and Bloc lost heavily, Scotiabank's Chief FX Strategist Shaun
Technical Analysis
Canada
BOC
USDCAD
Banks
AUD/USD retreats after failing to hold multi-month high – BBH
AUD/USD retreats after failing to hold multi-month high – BBH
AUD/USD trimmed gains after testing resistance near 0.6450, as market attention shifts to upcoming Q1 CPI data.
Technical Analysis
RBA
Currencies
Banks
AUDUSD
USD edges firmer on the day – Scotiabank
USD edges firmer on the day – Scotiabank
The USD is tracking a little higher on the day so far, reversing some of yesterday’s losses, following news that President Trump will make some concessions on auto tariffs due to come into effect on May 3rd.
Technical Analysis
Fed
Banks
DollarIndex
USD/CAD: US auto tariffs & Canadian election result in focus – MUFG
USD/CAD: US auto tariffs & Canadian election result in focus – MUFG
The US Dollar has strengthened modestly overnight against other G10 currencies as it continues to consolidate at lower levels following the heavy sell-off during this month.
Technical Analysis
Canada
USDCAD
Banks
Incoming US data to keep the pressure on the USD – DBS
Incoming US data to keep the pressure on the USD – DBS
The DXY Index depreciated by 0.5% to 98.9 overnight after failing to push above 100 in the past three sessions. The Fed has entered a blackout period ahead of next week’s FOMC meeting.
Technical Analysis
Fed
Banks
DollarIndex
USD/CNH fails to sustain break above 7.37 – Société Générale
USD/CNH fails to sustain break above 7.37 – Société Générale
USD/CNH's attempt to break above key resistance at 7.37 lost traction, with the pair retreating sharply after hitting 7.43. Now trading below its 50-day moving average, the currency risks further losses unless it can reclaim 7.32 in the short term, Société Générale's FX analysts note.
Technical Analysis
USDCNH
Banks
GBP/USD tests key resistance at 1.3430–1.3500 – Société Générale
GBP/USD tests key resistance at 1.3430–1.3500 – Société Générale
The Pound Sterling (GBP) is approaching a critical technical zone against the US dollar, challenging last year's high and the top of a long-term ascending channel.
Technical Analysis
Banks
GBPUSD
Canadian Liberals likely to win the election – Commerzbank
Canadian Liberals likely to win the election – Commerzbank
Based on the latest polls, it should no longer be too surprising that the Canadian Liberals appear to have won the recent election, Commerzbank's FX analyst Michael Pfister notes.
Technical Analysis
Canada
BOC
USDCAD
Banks
Tariff shenanigans weigh on the USD – OCBC
Tariff shenanigans weigh on the USD – OCBC
Tariff developments remain fluid even if we are in a de-escalation phase. Trump/Bessent continued to speak about how 'all aspects' of the US government are in contact with China regarding trade even as Beijing denied the existence of negotiations.
Technical Analysis
Banks
DollarIndex
CAD: Carney projected to lead minority government – ING
CAD: Carney projected to lead minority government – ING
Canadian media projects that the Liberal party has won the general election, and Mark Carney has been confirmed as prime minister. The results have, however, been much narrower than implied by polls. Liberals are currently projected at 167 parliament seats, short of the 172 majority.
Technical Analysis
Canada
BOC
USDCAD
Banks
EUR/USD: Watch price action – OCBC
EUR/USD: Watch price action – OCBC
Euro (EUR) drifted lower after rising to >3Y high of 1.1570 levels last week. De-escalation in tariff angst somewhat slowed USD’s decline and helped to moderate the pace of rally in EUR. EUR was last seen at 1.1390 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Technical Analysis
EURUSD
Banks
NZD/USD Price Forecast: Finds psychological support at 0.5950 near nine-day EMA
NZD/USD Price Forecast: Finds psychological support at 0.5950 near nine-day EMA
The NZD/USD pair remains subdued after registering gains in the previous session, trading around 0.5970 during European hours on Tuesday.
Technical Analysis
Majors
NZDUSD
Gold Technical Analysis – Rangebound price action as we await the first trade deal
Gold Technical Analysis – Rangebound price action as we await the first trade deal
Gold got stuck in a range as the market is now waiting for the details of the first trade deal. What’s next?
USD/CHF Price Forecast: Tests nine-day EMA barrier near 0.8250
USD/CHF Price Forecast: Tests nine-day EMA barrier near 0.8250
The USD/CHF pair halts its three-day losing streak, trading around 0.8240 during the Asian hours on Tuesday. The daily chart analysis indicates a potential bullish shift, as the pair consolidates above the descending channel pattern.
USDCHF
Technical Analysis
Majors
AUD/JPY Price Analysis: Struggles to hold ground ahead of the Asian session
AUD/JPY Price Analysis: Struggles to hold ground ahead of the Asian session
The AUD/JPY is trading close to the 91.30 area on Monday, showing very limited movement ahead of the Asian session. The pair remains stuck mid-range after a session characterized by low volatility.
Crosses
Technical Analysis
Currencies
AUDJPY
EUR/JPY Price Analysis: Euro steady near mid-range as bullish signals hold ahead of Asia
EUR/JPY Price Analysis: Euro steady near mid-range as bullish signals hold ahead of Asia
The EUR/JPY is trading with slight gains near the 162.20 zone on Monday's session ahead of the Asian open, reflecting a cautious but positive mood. After modest fluctuations during the European hours, the pair stabilizes mid-range, hinting at a market waiting for fresh catalysts in Asia.
Crosses
Technical Analysis
Currencies
EURJPY
Bullish
USD/JPY plunges as trade optimism fades and BoJ looms
USD/JPY plunges as trade optimism fades and BoJ looms
The USD/JPY pair faces heavy selling pressure, sliding to the 142.00 zone during Monday’s North American hours. Investor caution has resurfaced as broader trade optimism erodes, pushing demand toward the safe-haven Japanese Yen.
Technical Analysis
SupportResistance
BOJ
USDJPY
DollarIndex
Gold price climbs as recession fears rise on sour mood
Gold price climbs as recession fears rise on sour mood
Gold price resumes its uptrend on Monday after erasing some of its earlier losses, which saw the precious metal hit a daily low of $3,268. A shift in market mood lifted Bullion’s buyers’ spirits, driving XAU/USD up by 0.55%, exchanging hands at $3,338.
Technical Analysis
XAUUSD
SEO
Gold
Fundamental Analysis
USDJPY falls to new lows. Tests 200 hour MA.
USDJPY falls to new lows. Tests 200 hour MA.
The low from Thursday found buyers near the 200 hour MA
USD/CHF Price Analysis: Dollar weakens against Swiss franc amid bearish pressures
USD/CHF Price Analysis: Dollar weakens against Swiss franc amid bearish pressures
During Monday's session, USD/CHF was seen trading near the lower end of its daily range, moving around the 0.82 area after dropping by nearly half a percent. The pair continues to face a bearish overall sentiment, reinforced by the performance of technical indicators.
Technical Analysis
Currencies
Majors
USDCHF