Fedspeak takes centre stage following Fed hold
By: bitcoin ethereum news|2025/05/09 05:00:05
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The Greenback edged sharply higher as markets digested the Federal Reserve’s decision to leave interest rates unchanged, while markets’ attention remained on the trade front following news of a US-UK trade agreement. Here is what you need to know on Friday, May 9: The US Dollar (USD) extended its rebound on Thursday, with the Dollar Index (DXY) advancing well beyond the psychological 100.00 mark, or four-week highs. The next key data release in the US will be the Inflation Rate on May 13. EUR/USD retreated to four-week lows, revisiting the 1.1220-1.1210 band amid a generalised upside bias in the Greenback. Traders are now eyeing the May 13 release of the ZEW Economic Sentiment survey for Germany and the Euroland. GBP/USD tested fresh two-week lows around 1.3240 on increasing USD strength and despite optimism following the BoE’s rate cut and the US-UK trade deal. Governor Andrew Bailey is due to speak on Friday. USD/JPY added to the recent uptick and approached monthly highs just below the 146.00 level. Japan’s upcoming data slate includes Household Spending, Average Cash Earnings, and early reads on the Coincident and Leading Economic indexes. AUD/USD added to Wednesday’s drop and fell to our-day lows near the 0.6400 neighbourhood. Market focus shifts to Australian Consumer and Business Confidence figures due May 13 by Westpac and NAB, respectively. WTI prices rose markedly, approaching the key $60.00 mark per barrel once again on Thursday as traders remained optimistic on upcoming US-China trade talks. Gold prices remained on the back foot for the second day in a row, this time slipping back to three-day troughs near the $3,300 mark per troy ounce as investors closely followed positive developments on the trade front. In contrast, Silver prices partially reversed the previous day’s pullback and advanced modestly to the $32.50 zone per ounce. Source: https://www.fxstreet.com/news/forex-today-fedspeak-takes-centre-stage-following-fed-hold-202505081728
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