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Key Developments Nvidia warned of a $5.5B charge due to U.S. export restrictions on its H20 GPUs to China. The U.S. now requires special licenses to export advanced chips. This triggered a global tech sell-off: Nvidia -5%, AMD -6%, Micron -3.5%, ASML -4.3% Broader tech names like Meta, Alphabet, Microsoft, and Tesla also declined. U.S.-China […]

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The Australian Dollar (AUD) is trading lower against the US Dollar (USD), snapping a six-day winning streak.

Reserve Bank of New Zealand news:

• Reserve Bank of New Zealand Assistant Governor Simone Robbers resigns
• Finishes up at the end of May 2025
• Assistant Governor/General Manager
  Strategy, Engagement and Sustainability

Former RBNZ Governor Orr resigned abruptly in March.

This article was written by Eamonn Sheridan at www.forexlive.com.

The USD/CAD pair trades in positive territory near 1.3880 during the early Asian session on Thursday. However, the upside for the pad might be limited amid the escalating trade uncertainties. Traders brace for the developments surrounding US trade talks with trading partners.

Bank of Japan (BoJ) board member Junko Nagakawa said on Thursday that “if the outlook for economic activity and prices is realised, the BoJ will continue to raise interest rate and adjust degree of monetary accommodation.”

Bank of Japan Governor Ueda

• U.S. tariffs affect Japan’s economy through various channels
• Higher-than-expected U.S. tariffs raised global economic uncertainties, caused market turmoil
• U.S. tariffs could exert downward pressure on global, domestic economy, while can’t tell right now which way they would impact prices
• Frequently have one-on-one meetings with policymakers from other countries
• Plan to exchange views with U.S. Fed chairman and other policymakers at next week’s meetings
• Will assess U.S. policies, wage, price trend at next BoJ policy meeting
• Prolonged food inflation could change inflation expectations and result in real inflation, so we’ll closely monitor the situation using data and hearings

Earlier:

• Bank of Japan Governor Ueda says Japan’s real interest rate remains very low

Ueda comments on the uncertainty, he’s not alone in bewilderment. Even the main player doesn;t seem to know what he’s going to do next.

This article was written by Eamonn Sheridan at www.forexlive.com.