We were caught off guard by the main message from ECB President Christine Lagarde yesterday that the easing cycle was nearing its conclusion, ING's FX analyst Chris Turner notes.1.1330/1350 may be the limit of the EUR/USD sell-off"The terminal rate … [Continue reading]
USD/INR gains as RBI surprisingly cuts repo rate by 50 bps to 5.5%
The USD/INR rises to near 86.00 as the RBI has cut its repo rate by 50 bps to 5.5%, against expectations of a 25-bps interest rate reduction.The RBI has changed its stance from accommodative to neutral.Investors await the US NFP data for May.The … [Continue reading]
Bitcoin, Ethereum, XRP slides as Elon Musk and Trump clash over “One Big Beautiful Bill”
Bitcoin dived 3% on Thursday, dragging top altcoins Ethereum, XRP and Solana in the process.The decline sparked nearly $1 billion in liquidations across the cryptocurrency futures market.Musk and Trump engaged in a war of words over the "One Big … [Continue reading]
Dow Jones Industrial Average loses some ground as Trump and Musk clash
The Dow Jones is holding steady as markets await Friday’s NFP report.Despite an overall upbeat tone to equities, market sentiment remains hobbled.The US is heading into trade talks with China, which Trump staffers historically lack the patience … [Continue reading]
Silver prices surge to multi-year highs, posting intraday gains near 3.50%
Silver prices break technical psychological resistance at $35.00, pushing prices to their highest level since February 2012.Interest rate expectations and the direction of the US Dollar help drive Silver prices.Safe-haven demand continues to rise as … [Continue reading]
European Central Bank set to trim interest rates as markets look for clues about further cuts
The European Central Bank is set to deliver another 25 bps cut to key rates on Thursday.The ECB’s updated staff projections and President Christine Lagarde’s presser will be closely scrutinized.The EUR/USD pair could move sharply depending on the ECB … [Continue reading]
EUR/GBP holds steady below 0.8450 ahead of ECB rate decision
EUR/GBP steadies around 0.8420 in Thursday’s early European session.The ECB is expected to trim interest rates by 25 bps on Thursday, bringing its deposit facility rate to 2.0%.The UK is temporarily spared from Trump's 50% steel tariffs. The … [Continue reading]
Australian Dollar holds ground following Trade Balance, China Services PMI data
The Australian Dollar maintains its position despite a decline in Australia’s trade surplus.China’s Caixin Services PMI came at 51.1 in May, improving from 50.7 in April.The US Dollar continues to struggle after the weaker economic data released on … [Continue reading]
K Wave Media set to raise $500 million for Bitcoin treasury amid Standard Chartered’s warning
Nasdaq-listed K Wave Media plans to raise $500 million from a securities offering to buy Bitcoin.The company stated that it aims to become the "Metaplanet of Korea" by replicating the Japanese firm's Bitcoin model.Standard Chartered's Geoffrey … [Continue reading]
USD/CAD weakens as BoC holds rates, US data disappoints
USD/CAD trades below 1.3700 after the Bank of Canada leaves rates unchanged at 2.75%.The Canadian Dollar is supported by the BoC’s cautious stance and strong Q1 growth.The US Dollar weakens as ADP jobs data and ISM Services PMI fall short of … [Continue reading]