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Editors’ Picks
EUR/USD edges lower below 1.1650 as Middle East tensions fuel US Dollar strength
The EUR/USD pair trades in negative territory around 1.1635 during the early Asian session on Thursday. The US Dollar strengthens against the Euro as escalating Middle East conflict boosts safe-haven flows. Traders brace for the Eurozone Retail Sales and US weekly Initial Jobless Claims reports, which will be released later on Thursday.
GBP/USD tests key moving averages as growth downgrade weighs
GBP/USD was nearly flat on Wednesday, edging up 0.08% to settle around 1.3370 in a quiet session. The pair has fallen sharply from its late-January high near 1.3870 and is now testing the 200-day Exponential Moving Average, with this week's one-week forex heatmap showing Pound Sterling as one of the worst performers against the US Dollar, down about 1.4% on the week.
USD/JPY retreats further from YTD peak amid intervention fears, softer USD
The USD/JPY drifts lower for the second consecutive day, moving further away from its highest level since January 23, around the 158.00 area, set earlier this week. Fears of intervention, along with expectations that the BoJ will stick to its policy normalization path, support the Japanese Yen and weigh on spot prices amid a softer US Dollar. However, geopolitical tensions could benefit the USD's reserve currency status amid reduced bets for more aggressive easing by the Fed and cap the currency pair.
Editors’ Picks
AUD/USD holds steady below 0.7100 after Australian trade data
AUD/USD moves little following the release of Australian Trade Balance data and consolidates below 0.7100 on Thursday. A goodish recovery in the risk sentiment acts as a tailwind for the Aussie amid bets for another RBA rate hike in May, bolstered by the upbeat GDP print on Wednesday. However, rising geopolitical tensions help limit the safe-haven US Dollar's overnight corrective pullback and cap the currency pair.
USD/JPY retreats further from YTD peak amid intervention fears, softer USD
The USD/JPY drifts lower for the second consecutive day, moving further away from its highest level since January 23, around the 158.00 area, set earlier this week. Fears of intervention, along with expectations that the BoJ will stick to its policy normalization path, support the Japanese Yen and weigh on spot prices amid a softer US Dollar. However, geopolitical tensions could benefit the USD's reserve currency status amid reduced bets for more aggressive easing by the Fed and cap the currency pair.
Gold benefits from a retreating USD; reduced Fed rate cut bets cap gains
Gold attracts some buyers for the second consecutive day on Thursday amid a modest US Dollar pullback from an over three-month high, though it remains below the $5,200 mark. Wednesday's upbeat US macro data further tempered hopes for three rate cuts by the Fed in 2026. Furthermore, escalating Middle East tensions might continue to benefit the USD's status as the global reserve currency and contribute to capping the bullion.
Morgan Stanley files amended S-1 for spot Bitcoin ETF
Morgan Stanley submitted an amended S-1 filing to the US Securities and Exchange Commission on Wednesday, providing additional details on its proposed Bitcoin exchange-traded fund.
First Venezuela, now Iran: The US-China energy war escalates Premium
At first glance, the latest escalation involving the United States with both Iran and Venezuela looks like another chapter in a long-running geopolitical story. But viewed through a broader strategic lens, something else may be unfolding: Energy.
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