CAD/EUR Exchange rate

AUD/USD has picked up fresh bids above 0.6400 in the Asian session on Thursday. Renewed US Dollar weakness on fading US trade deals optimism overshadow bets that the RBA will cut rates next week. All eyes remain on US data and Fedspeak. 
 

USD/JPY rebounds from weekly lows toward 145.50 in the Asian session amid the divergent BoJ-Fed policy expectations. The BoJ is widely expected to hike rates again in 2025 despite weaker-than-expected Japan's Q1 GDP print. In contrast, this week's softer US inflation figures boost the case for more rate cuts by the Fed.

Gold price struggles to capitalize on the previous day's strong recovery move from the $3,120 region, or the lowest level since April 10, and attracts some sellers during the Asian session on Friday. The US-China trade truce for 90 days has eased some of the pressure on global markets and is seen as a key factor acting as a headwind for the safe-haven bullion.

Bitcoin (BTC) and Solana (SOL) saw a slight decline on Thursday, following an announcement from defunct crypto exchange FTX that it will commence its second wave of creditors’ distributions on May 30.

The UK economy roared back to life in the first quarter after stagnating through the second half of last year. Or did it? We're not sure the data is an accurate guide to what's going on beneath the surface.