News

The Australian Dollar (AUD) remains steady on Thursday following two consecutive days of losses. The AUD/USD pair could see gains as the US Dollar (USD) faces pressure after the Federal Reserve’s (Fed) Beige Book suggested weakening economic conditions.

South Korea’s economy shrank 0.2% q/q in Q1

• expected + 0.1%

Its first quarterly contraction since mid-2024 and missing forecasts for modest growth.

• Exports fell 1.1% (were + 0.8% in Q4 2024)
• private consumption also weakened amid growing concerns over U.S. tariff impacts

The data strengthens the case for further rate cuts, with the Bank of Korea expected to ease policy as soon as May.

Analysts now see the policy rate falling to 2.25% by Q3. Trump’s sweeping tariffs are seen as a key threat to the export-reliant economy.

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

The Indian Rupee (INR) faces some selling pressure on Thursday as terrorist attacks in Kashmir, India, weighed on sentiment. Furthermore, rising crude oil prices undermine the Indian currency, as India is the world’s third-largest oil consumer. 

The latest Fed Beige Book painted a picture of a stagnating US economy, with activity described as “little changed” across most of the country. Of the 12 Districts, only five reported slight growth, while three saw flat conditions and the remaining four noted modest declines. However, the most striking theme running through the report was […]

The post Fed’s Beige Book: Stagnant growth, tariff-driven inflation appeared first on Action Forex.

BoE Governor Andrew Bailey emphasized the growing downside risks to UK growth stemming from US President Donald Trump’s tariff policies. Speaking at an IIF conference, Bailey said, “We do have to take very seriously the risk to growth,” highlighting the UK’s vulnerability as a highly open economy. He noted that the impact of U.S. trade […]

The post BoE’s Bailey: We must take tariff-related growth risks very seriously appeared first on Action Forex.

Speaking at an IIF conference overnight, ECB Chief Economist Philip Lane downplayed concerns over recent portfolio shifts away from US Dollar assets, suggesting the move may reflect a normalization rather than a structural retreat. Lane noted that allocations are likely moving from an overweight position in Dollar-denominated assets toward a more balanced distribution among global […]

The post ECB’s Lane sees Dollar outflows as rebalancing, not the end of dominance appeared first on Action Forex.

Dutch ECB Governing Council member Klaas Knot noted that the combination of US tariffs, a stronger Euro, and falling energy prices could push eurozone inflation lower than expected in the short term. “The strong euro, together with falling energy prices, suggests that the near-term impact might not be so inflationary after all,” Knot said. However, […]

The post ECB’s Knot and Muller downplay tariff impacts on inflation and growth appeared first on Action Forex.

Nikkei report, via Reuters:

• Nissan decided to scrap development of two electric vehicle models in the U.S.

• Nissan scrapped development of two sedan EV models planned to be produced in its Mississippi plant from 2028

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

Key Highlights Ethereum rallied over 15% and cleared the $1,750 resistance. ETH surpassed a key bearish trend line with resistance at $1,640 on the daily chart. Bitcoin price also rallied and surpassed the $93,500 resistance. XRP is showing positive signs, and the bulls could aim for a move toward $2.50. Ethereum Technical Analysis Ethereum remained […]

The post Ethereum Flips Key Resistance – Can Bulls Ride the Wave to $2,000? appeared first on Action Forex.

USD/CAD edges lower around 1.3870 during Thursday’s Asian session, after climbing roughly 0.50% in the previous day. The pair is under pressure as the US Dollar (USD) weakens following the Federal Reserve’s April Beige Book, which pointed to deteriorating economic conditions.