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Gold drops as US-China tariff reduction weighs on safe-haven demand
Gold drops as US-China tariff reduction weighs on safe-haven demand
Gold prices are under significant pressure in Monday’s session, weighed down by improving global risk sentiment and a strengthening US Dollar (USD). 
Technical Analysis
XAUUSD
Metals
Gold
Fundamental Analysis
USD/CNH struggles below 50-DMA resistance near 7.28 – Société Générale
USD/CNH struggles below 50-DMA resistance near 7.28 – Société Générale
USD/CNH remains under pressure after failing to reclaim the 50-DMA, with downside risks intensifying should the 7.18 support give way, Société Générale's FX analysts note.
Technical Analysis
USDCNY
USDCNH
Banks
USD: DXY support Ssen near 100.0 ahead of key US inflation data – ING
USD: DXY support Ssen near 100.0 ahead of key US inflation data – ING
US President Donald Trump described this weekend's US-China meetings in Switzerland as 'very good' and said a 'total reset' is being negotiated. Treasury Secretary Scott Bessent led the negotiations and said 'substantial progress' has been made.
Technical Analysis
TradeWar
Banks
DollarIndex
EUR/USD pulls back from 1.1570 resistance – Société Générale
EUR/USD pulls back from 1.1570 resistance – Société Générale
EUR/USD is under pressure as technical momentum fades, with the pair testing key trend support and downside risks building below the 50-day moving average near 1.1070, Société Générale's FX analysts note.
Technical Analysis
EURUSD
Banks
EUR: Still quite overvalued – ING
EUR: Still quite overvalued – ING
EUR/USD briefly printed below the 1.120 support in early trading. Should Bessent feed markets with convincing headlines on US-China talks today, a decisive break lower looks on the cards, ING's FX analyst Francesco Pesole notes
Technical Analysis
EURUSD
Banks
Silver Price Forecast: XAG/USD faces rejection near descending channel hurdle, around $33.00
Silver Price Forecast: XAG/USD faces rejection near descending channel hurdle, around $33.00
Silver (XAG/USD) attracts heavy intraday selling in the vicinity of the $33.00 round figure and dives to over a one-week trough during the first half of the European session on Monday.
Silver
Commodities
Technical Analysis
XAGUSD
Gold Technical Analysis – Positive trade talks weigh on the precious metal
Gold Technical Analysis – Positive trade talks weigh on the precious metal
The positive expectations for the US-UK trade deal and later for the US-China talks, sent gold prices lower. What’s next?
EUR/USD Price Analysis: Bears await break below 1.1200 ahead of US-China joint statement
EUR/USD Price Analysis: Bears await break below 1.1200 ahead of US-China joint statement
The EUR/USD pair kicks off the new week on a weaker note amid a modest US Dollar (USD) uptick, bolstered by the optimism over a US-China trade deal.
Technical Analysis
Currencies
EURUSD
TradeWar
Majors
FX option expiries for 12 May 10am New York cut
FX option expiries for 12 May 10am New York cut
A look at what is on the board for today
US Dollar Index Price Forecast: Trades near 100.50, remains below channel’s upper boundary
US Dollar Index Price Forecast: Trades near 100.50, remains below channel’s upper boundary
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against a basket of six major currencies, is losing ground for the second successive session, trading near 100.60 during the Asian hours on Monday.
Technical Analysis
Majors
DollarIndex
AUD/NZD Price Analysis: Aussie holds near 1.0800 as bullish signals persist
AUD/NZD Price Analysis: Aussie holds near 1.0800 as bullish signals persist
The AUD/NZD pair edged higher on Friday, trading near the 1.0800 zone after the European session, reflecting a steady bullish tone as the market heads into the Asian session.
Currencies
Technical Analysis
Crosses
Australia
AUDJPY
Bullish
EUR/JPY Price Analysis: Euro steadies near 164.00 as bullish structure holds firm
EUR/JPY Price Analysis: Euro steadies near 164.00 as bullish structure holds firm
The EUR/JPY pair eased slightly on Friday, trading near the 164.00 zone after the European session, reflecting a modest pullback from recent gains.
Crosses
Technical Analysis
Currencies
EURJPY
Bullish
Mexican Peso firms despite weak data as trades turn cautious on US-China talks
Mexican Peso firms despite weak data as trades turn cautious on US-China talks
The Mexican Peso (MXN) registered modest gains versus the US Dollar (USD) on Friday as market participants turned cautious ahead of the US-China talks in Switzerland.
Technical Analysis
SEO
USDMXN
Banxico
Fundamental Analysis
Gold price rises over 1% on USD weakness as geopolitical tensions rise
Gold price rises over 1% on USD weakness as geopolitical tensions rise
Gold price climbed over 1% on Friday as the US Dollar (USD) retreated after posting two days of gains, weighed by lower US yields. A deterioration in risk appetite boosted Bullion prices, which are being underpinned by geopolitical concerns. At the time of writing, XAU/USD trades at $3,338.
Technical Analysis
XAUUSD
SEO
Gold
USD/JPY pauses near resistance as breakout decision looms
USD/JPY pauses near resistance as breakout decision looms
The USD/JPY pair remains a focal point in the foreign exchange market, fluctuating within a key technical zone as markets digest evolving economic and monetary policy expectations. 
Technical Analysis
RiskAppetite
Currencies
Majors
USDJPY
AUDUSD holds support but faces key moving average resistance
AUDUSD holds support but faces key moving average resistance
AUDUSD faces key moving average resistance after bouncing off support levels. Traders await a breakout above key resistance levels for bullish momentum to strengthen.
AUD
USD
EUR/GBP Price Analysis: Euro drifts near 0.8500 as bearish pressure builds
EUR/GBP Price Analysis: Euro drifts near 0.8500 as bearish pressure builds
The EUR/GBP pair edged lower on Friday, trading near the 0.8500 zone after the European session as selling pressure remained consistent. The pair settled within the middle of its daily range, reflecting cautious sentiment despite the broader bearish tone.
Crosses
Technical Analysis
Currencies
EURGBP
NZDUSD sellers make a move but fail on the break
NZDUSD sellers make a move but fail on the break
Cluster of moving averages and swing areas provide near-term technical hurdles
NZD
USD
EUR/USD Price Analysis: Euro steadies near 1.1300 as bullish signals gain traction
EUR/USD Price Analysis: Euro steadies near 1.1300 as bullish signals gain traction
The EUR/USD pair advanced modestly on Friday, trading near the 1.1300 zone after the European session. Price action remained contained within the day’s range, reflecting steady demand despite mixed short-term momentum signals.
EURUSD
Majors
Technical Analysis
Currencies
Bullish
GBPUSD moves up to 100/200 hour MA targets
GBPUSD moves up to 100/200 hour MA targets
The 100-hour MA is at 1.33078 and the 200-hour MA is at 1.33173
GBP
USD
EUR/JPY retreats from highs as Trump tariff threat tempers trade optimism
EUR/JPY retreats from highs as Trump tariff threat tempers trade optimism
The EUR/JPY pair is trading lower on Friday, weighed down by renewed US–China trade tensions, mixed economic data out of Japan, and cautious investor positioning ahead of a scheduled speech by European Central Bank (ECB) Executive Board member Isabel Schnabel. 
Crosses
Technical Analysis
Currencies
EURJPY
Macroeconomics
USDCHF fails at both ends of its recent range — price remains trapped
USDCHF fails at both ends of its recent range — price remains trapped
Attempts to break out of the red box range have failed on both the upside and downside
CHF
USD
USDCAD pushes higher but runs into resistance. Watch the old ceiling for short-term clues
USDCAD pushes higher but runs into resistance. Watch the old ceiling for short-term clues
Break above 1.3933 needed to unlock next upside targets near 1.3977 and 1.4000
Nasdaq Futures Analysis for Today
Nasdaq Futures Analysis for Today
Expecting a trading range, see the prices that define it. tradeCompass also identied the longer targets for bulls and bears, if there is a surprise.
TradeCompass
Nasdaq
Nasdaq Technical Analysis
Kickstart the US trading day for May w/ a technical look at the EURUSD, USDJPY & GBPUSD
Kickstart the US trading day for May w/ a technical look at the EURUSD, USDJPY & GBPUSD
What technical levels are in play and why for the 3 major currency pairs to kickstart the US trading session for May 9
EUR entering NA session with modest gain – Scotiabank
EUR entering NA session with modest gain – Scotiabank
The Euro (EUR) is entering Friday’s NA session with a modest 0.2% gain, still trading below 1.13 but seeing a solid recovery from a short lived decline to 1.12, Scotiabank's Chief FX Strategist Shaun Osborne notes.
EURUSD
Banks
Technical Analysis
USD/CNH: Downward momentum is slowing rapidly – UOB Group
USD/CNH: Downward momentum is slowing rapidly – UOB Group
Room for US Dollar (USD) to continue to rise against the Chinese Yuan (CNH), but it does not appear to have enough momentum to break above 7.2600.
Banks
Technical Analysis
USDCNH
CAD is flat and consolidating post-Fed losses – Scotiabank
CAD is flat and consolidating post-Fed losses – Scotiabank
The Canadian Dollar (CAD) is entering Friday’s NA session trading flat vs. the US Dollar (USD) as it consolidates this week’s post-Fed losses.
Technical Analysis
Canada
BOC
USDCAD
Banks
USD soft, fading portion of post-Fed gains into US/China trade talks – Scotiabank
USD soft, fading portion of post-Fed gains into US/China trade talks – Scotiabank
G10 FX performance is varied heading into Friday’s NA session as most currencies claw back a portion of this week’s post-Fed losses against the US Dollar (USD).
Technical Analysis
Fed
Banks
DollarIndex
USD/JPY might not be able to break above 146.55 – UOB Group
USD/JPY might not be able to break above 146.55 – UOB Group
Scope for US Dollar (USD) to rise further vs Japanese Yen (JPY); overbought conditions suggest any advance might not be able to break above 146.55.
Technical Analysis
USDJPY
Banks
USD/JPY: Rebound meets first resistance – OCBC
USD/JPY: Rebound meets first resistance – OCBC
US Dollar (USD) short covering gathered pace vs. safe haven proxies. USDJPY was last at 145.30 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Technical Analysis
USDJPY
Banks
Gold rally stalls below $3500 mark – Société Générale
Gold rally stalls below $3500 mark – Société Générale
Gold faces consolidation after stalling near $3500, with a lower high at $3435 and weakening momentum suggesting a temporary pause in the uptrend, Société Générale's FX analysts note.
Technical Analysis
XAUUSD
Metals
Gold
Banks
NZD/USD might not be able to break clearly below 0.5870 – UOB Group
NZD/USD might not be able to break clearly below 0.5870 – UOB Group
New Zealand Dollar (NZD) could weaken further against US Dollar (USD), but it might not be able to break clearly below 0.5870. In the longer run, bias for NZD is tilted to the downside toward 0.5870, potentially reaching 0.5835, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
Banks
NZDUSD
DXY: Short squeeze on the cards – OCBC
DXY: Short squeeze on the cards – OCBC
US Dollar (USD) short squeeze gained traction and broadened against more currencies from safe haven to procyclical FX. MYR, Gold, JPY and THB led losses.
Technical Analysis
Banks
DollarIndex
AUD/USD can drop below 0.6370 – UOB Group
AUD/USD can drop below 0.6370 – UOB Group
Australian Dollar (AUD) could drop below 0.6370 against the US Dollar (USD) but might not be able to maintain a foothold below this level. In the longer run, AUD must break and hold below 0.6370 before a move to 0.6330 can be expected, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
Banks
AUDUSD
GBP/USD: Likely to decline further – UOB Group
GBP/USD: Likely to decline further – UOB Group
Pound Sterling (GBP) is likely to decline further, potentially testing the support at 1.3190. In the longer run, scope for GBP to weaken to 1.3150; currently it is unclear whether GBP can break clearly below this level, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Technical Analysis
Banks
GBPUSD
GBP: Bullish mood can continue – ING
GBP: Bullish mood can continue – ING
The Pound Sterling (GBP) strengthened yesterday as the Bank of England sent some hawkish signals while cutting rates by 25bp. The announcement of the UK-US trade deal later in the day added some support to the pound, but that was short-lived, ING's FX analyst Francesco Pesole notes
GBPUSD
Banks
Technical Analysis
Bullish