• BoE’s Dhingra: Would have preferred bank rate to have followed a different path

    • Would have preferred bank rate to have followed a different path.
    • Overly restrictive policy risks supressing demand and disincentivising investment.
    • Risks to inflation and growth tilted to the downside.

    She’s an uber dove so nothing surprising in her comments.

    This article was written by Giuseppe Dellamotta at www.forexlive.com.

  • European equities a touch higher to kick start the session

    • Eurostoxx +0.2%
    • Germany DAX +0.2%
    • France CAC 40 +0.2%
    • UK FTSE +0.3%
    • Spain IBEX flat
    • Italy FTSE MIB -0.1%

    It’s a bit of catching up to the late bounce in Wall Street but any optimism there is balanced out by a slight drop as well in US futures today. S&P 500 futures are down 0.35% currently. Trade uncertainty continues to be the name of the game and US-EU talks will also take on importance for European indices later in the week.

    This article was written by Justin Low at www.forexlive.com.

  • OECD cuts global outlook as Trump tariffs bite at US growth

    • 🌍 2025 global GDP growth forecast seen at 2.9% (previously 3.1%)
    • 🌍 2026 global GDP growth forecast seen at 2.9% (previously 3.0%)
    • 🇺🇸 2025 US GDP growth forecast seen at 1.6% (previously 2.2%)
    • 🇺🇸 2026 US GDP growth forecast seen at 1.5% (previously 1.6%)
    • 🇪🇺 2025 Eurozone GDP growth forecast seen at 1.0% (unchanged)
    • 🇪🇺 2026 Eurozone GDP growth forecast seen at 1.2% (unchanged)
    • 🇨🇳 2025 China GDP growth forecast seen at 4.7% (previously 4.8%)
    • 🇨🇳 2026 China GDP growth forecast seen at 4.3% (previously 4.3%)
    • 🇬🇧 2025 UK GDP growth forecast seen at 1.3% (previously 1.4%)
    • 🇬🇧 2026 UK GDP growth forecast seen at 1.0% (previously 1.2%)
    • 🇯🇵 2025 Japan GDP growth forecast seen at 0.7% (previously 1.1%)
    • 🇯🇵 2026 Japan GDP growth forecast seen at 0.4% (previously 0.2%)

    The organisation is projecting a more downbeat outlook for the world economy as Trump tariffs look set to bite at US growth especially. There are also downgrades for China, UK, and Japan for this year as well.

    This article was written by Justin Low at www.forexlive.com.

  • More from BoJ Ueda: See no need now to change our baseline view on Japan’s economy

    • See no need now to change our baseline view on Japan’s economy.
    • See no change to big picture of Japan’s economy, price developments since we released our outlook report on May 1.
    • Many trade negotiations with US still going on, uncertainty remains high.
    • Whether to raise interest rates and likely timing of such a move will depend on Japan’s economic, price developments.
    • Won’t comment on short term moves in bond yields.

    I’ve been reading the same comments from Ueda for several months now. There’s nothing new here. The BoJ focus remains on US-Japan trade negotiations and inflation.

    This article was written by Giuseppe Dellamotta at www.forexlive.com.

  • TMGM Celebrated Excellence at Chelsea Football Club Player of the Year Awards 2025

    TMGM, a global leader in online trading and investment services, was one of the official partners of the prestigious end-of-season CFC Awards 2025 ceremony. The glittering event at London’s iconic Grosvenor House on May 4 brought together Chelsea’s Men’s, Women’s, and Academy teams to celebrate outstanding achievements throughout the 2024-25 season.

    As Chelsea FC’s Official Regional Online Forex and Trading Partner in the Asia-Pacific region, the awards ceremony marked another milestone in the thriving multi-year partnership between the two organizations. The collaboration began in 2023 and was recently extended and continues to create meaningful connections between premium trading services and elite football.

    TMGM’s presence at the awards ceremony marks another milestone in the thriving multiyear partnership between the two organizations. “We were honored to be an official partner of the Player of the Year Awards at this year’s ceremony,” said Nick Yang, Chief Commercial Officer at TMGM. Our partnership with Chelsea FC represents a perfect alignment of values. Both organizations are committed to excellence, innovation, and delivering world-class performance. The celebration of talent and achievement perfectly embodies what TMGM stands for in the trading world.”

    The CFC Awards 2025 followed an extraordinary day for Chelsea FC, shortly after their impressive 3-1 victory over Premier League champions Liverpool at Stamford Bridge earlier that day. The match featured standout performances from several players, including Cole Palmer, whose exceptional form contributed significantly to the win. The talented midfielder played a key role in Chelsea’s opening goal alongside Romeo Lavia and Pedro Neto, setting up Enzo Fernandez’s finish.

    The evening saw Chelsea’s stars trade their football kits for elegant suits as they gathered to celebrate the season’s achievements. Midfielder Moises Caicedo was crowned Men’s Player of the Season in recognition of his outstanding performances throughout the campaign. As noted in Chelsea’s official awards coverage, Caicedo was “the clear and only player worthy of winning Chelsea Men’s Player of the Season this year.” Meanwhile, promising youngster Tyrique George was named Academy Player of the Season following his impressive breakthrough year.

    Midfielder Moises Caicedo was crowned Men’s Player of the Season. TMGM’s involvement with the CFC Awards reinforces the company’s commitment to recognizing excellence and supporting Chelsea’s continued success across all club levels.

    “We have an ongoing commitment to creating premium experiences that transcend traditional partnerships,” added Nick Yang. “Just as Chelsea FC competes at the highest level of world football, TMGM equips its clients with the tools and knowledge to perform at the peak of the trading world.”

    TMGM has a history of providing exclusive experiences for clients and Chelsea fans throughout the Asia-Pacific region. On May 6, following the awards ceremony, TMGM hosted VIP clients at Chelsea’s Cobham Training Centre, offering unprecedented access to watch training sessions and meet players.

    As the 2024-25 season concludes, TMGM looks forward to continuing its support of Chelsea FC and creating additional exciting opportunities for fans and clients alike.

    About TMGM

    TMGM is a leading global provider of online trading and investment services. With a strong focus on regulatory compliance, technological innovation, and exceptional customer service, TMGM empowers traders to access global markets and achieve their financial goals in a secure and user-friendly trading environment. TMGM proudly empowers investors to manage their investment portfolios. It combines CFD trading opportunities across asset classes: Forex, Shares, Precious Metals, Energies, and Indices. TMGM is a reliable CFD trading provider with offices on three continents and a monthly turnover of over US$374 billion.

    For more information, visit https://www.tmgm.com.

    About Chelsea Football Club

    Chelsea Football Club is one of the top football clubs globally. The men’s team was crowned FIFA Club World Cup champions in 2021, defeating Brazilian side Palmeiras in the final held in Abu Dhabi in 2022 due to pandemic-related delays. That success followed winning the UEFA Champions League for a second time in 2021, with a victory over Manchester City in Porto.

    Founded in 1905, Chelsea is London’s most central football club, based at the iconic 40,000-capacity Stamford Bridge stadium. Nicknamed the Blues, the club lifted the Champions League for the first time in 2012 and has also won the Premier League five times, the FA Cup eight times, the Football League Cup five times, the UEFA Europa League twice, the UEFA Cup Winners’ Cup twice, the UEFA Super Cup twice and the Football League Championship once, in 1955.

    The 2021 Champions League and Super Cup triumphs ensured Chelsea became the first club to win four major UEFA competitions twice, following their earlier successes in those two competitions and the Europa League and Cup Winners’ Cup. Having added the UEFA Conference League in 2025 when Real Betis were beaten in the final, the Blues are the only club to have won all the current UEFA club competitions.

    The Chelsea Women’s team has enjoyed considerable success. In 2025, it won the FA Women’s Super League for the sixth consecutive year and the eighth time overall. Chelsea has won the Women’s FA Cup on six occasions. Chelsea has also captured the FA Women’s League Cup thrice and reached the UEFA Women’s Champions League final in 2021.

    A domestic treble of trophies was secured in the 2020/21 and 2024/25 seasons. In addition to possessing some of the world’s most recognizable players, Chelsea has invested in their future with a state-of-the-art Academy and training centre in Cobham, Surrey. Since the Academy building’s opening in 2008, the club has won seven FA Youth Cups, back-to-back UEFA Youth League titles in 2015 and 2016, and the U23 and U18 Premier League national championships, most recently in 2019/20 and 2017/18, respectively.

    The Chelsea Foundation boasts one of the most extensive community initiatives in sport, helping to improve the lives of children and young people worldwide.

    This article was written by FL Contributors at www.forexlive.com.

  • USDCAD Technical Analysis – Key US data in focus

    Fundamental
    Overview

    The USD remains on the
    backfoot as the support from the more hawkish repricing in interest rates
    expectations got exhausted a couple of weeks ago. The market is now in line
    with the Fed’s baseline projection of two cuts in 2025 and we will likely need
    strong US data to price out the remaining rate cuts and give the greenback a
    boost.

    The data for now has been
    good but not strong enough to make the market to price out the two cuts
    expected by year-end. The next key data will be the prices paid component in
    the ISM Services PMI tomorrow, the US Jobless Claims figures on Thursday, the NFP
    report on Friday and the CPI next week.

    On the CAD side, the underlying
    inflation in Canada has been rising steadily since last December and more
    recently we got much
    higher than expected numbers
    with the Trimmed Mean rate back above 3%.

    That triggered a more
    hawkish repricing in interest rates expectations with the market now seeing
    just one last rate cut in 2025. This week we have the BoC rate decision where
    the central bank is widely expected to hold rates steady.

    USDCAD
    Technical Analysis – Daily Timeframe

    On the daily chart, we can see
    that USDCAD is rejecting once again the major upward trendline
    around the 1.37 handle. This is where the buyers continue to step in with a defined
    risk below the trendline to position for a pullback into the downward
    trendline. The sellers, on the other hand, will want to see the price breaking
    lower to increase the bearish bets into the 1.35 handle next.

    USDCAD Technical
    Analysis – 4 hour Timeframe

    On the 4 hour chart, there’s
    not much else we can glean from this timeframe but the first target for the
    buyers should be the swing high at 1.3860. That would also be a nice spot for
    the sellers to step in and position for the break below the major upward
    trendline with a better risk to reward setup.

    USDCAD Technical
    Analysis – 1 hour Timeframe

    On the 1 hour chart, we can
    see that we have a minor upward trendline defining the current bullish momentum.
    The buyers will likely continue to lean on it to keep pushing into new highs, while
    the sellers will look for a break lower to target a break below the major trendline.
    The red lines define the average daily range for today.

    Upcoming Catalysts

    Today, we get the US Job Openings data. Tomorrow, we have
    the BoC rate decision, the US ADP and the US ISM Services PMI. On Thursday, we
    get the latest US Jobless Claims figures. On Friday, we conclude the week with
    the Canadian Employment data and the US NFP report.

    This article was written by Giuseppe Dellamotta at www.forexlive.com.

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