BoC to hold rates at 2.75%, maintain dovish bias

BoC is widely expected to leave interest rate unchanged at 2.75% for the second consecutive meeting today. While Q1 GDP surprised to the upside at 2.2% annualized, the growth was heavily front-loaded by export activity as US buyers rushed to stockpile Canadian goods ahead of impending tariffs. That one-off boost is unlikely to alter the […]

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Japan’s PMI composite finalized at 50.2, growth momentum falters

Japan’s private sector lost steam in May as final PMI Services reading slipped to 51.0 from April’s 52.4, while Composite PMI declined to 50.2 from 51.2. The data point to only marginal growth in overall activity, with a slowdown in services combining with a mild deterioration in manufacturing output. S&P Global’s Annabel Fiddes noted that […]

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Australia’s GDP grows only 0.2% qoq in Q1, as weather and public investment drag

Australia’s GDP expanded just 0.2% qoq in Q1, falling short of expectations for 0.4% qoq growth. On an annual basis, GDP rose 1.3% yoy. However, GDP per capita declined by -0.2% qoq, marking a renewed contraction in individual economic output. The ABS noted that severe weather disrupted key sectors including mining, tourism, and shipping, while […]

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FX option expiries for 4 June 10am New York cut

There are a couple to take note of on the day, as highlighted in bold.

The first ones are for EUR/USD at the 1.1350 and 1.1400 levels. The expiries might play a part in keeping price action more limited, at least before we get to US trading later. They don’t tie much to any technical significance, though the key near-term moving averages are nearby at 1.1356-67 currently.

But as seen throughout the week so far, dollar sentiment and headline risks are the bigger factors at play. The former isn’t seeing much impact today after the greenback recovered some ground following the drop on Monday. Some pushing and pulling essentially.

Then, there’s one for USD/CAD at the 1.3750 level. The key hourly moving averages sit nearby at 1.3756-67 so the expiries adds another layer to keep any upside in check during the session ahead at least. That as the near-term levels above helped to arrest the upside on Thursday and Friday last week.

For more information on how to use this data, you may refer to this post here.

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

Ethereum Poised To Surge — Key Resistance In Sight

Ethereum Poised To Surge — Key Resistance In Sight

Key Highlights Ethereum started a fresh increase above the $2,500 resistance. ETH is following a short-term contracting triangle forming with resistance at $2,800 on the daily chart. Bitcoin price is facing hurdles near the $107,000 resistance. XRP is showing positive signs and might soon aim for a move above $2.35. Ethereum Technical Analysis Ethereum remained […]

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Elliott Wave Analysis: Nasdaq (NQ) Set to Complete 5 Waves Impulse, Defining Bullish Trend

Elliott Wave Analysis: Nasdaq (NQ) Set to Complete 5 Waves Impulse, Defining Bullish Trend

On April 7, 2025, the Nasdaq (NQ), like other major global indices, marked a significant low, setting the stage for a potential bullish trend. From this low, the index has embarked on a five-wave impulsive rally. This a hallmark of bullish momentum in Elliott Wave theory. The initial advance, wave 1, peaked at 18,361.5. It […]

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ForexLive Asia-Pacific FX news wrap: A subdued range session for major FX

Major FX is not much changed on the session here after minor moves only.

Geopolitics & Commodities:

  • Iran signalled it may accept a nuclear deal framework centred on a regional uranium enrichment consortium—provided it is based inside Iran.

  • Brent crude is marginally lower on the session, reflecting muted market reaction.

Australia:

  • Q1 GDP rose just 0.2%, missing forecasts; annual growth remained at a tepid 1.3% as public demand and exports dragged.

  • Household savings jumped to 5.2% as consumers cut back.

  • AUD/USD dipped on the release but quickly recovered, and is now little changed in a narrow range.

China-US news

  • Two Chinese nationals have been charged in the U.S. for smuggling a dangerous fungus considered a potential agroterrorism threat.

  • The incident is being treated as a national security concern, heightening scrutiny around biotech and cross-border research links.

South Korea:

  • The Kospi surged over 2% to its highest since August 2024 after opposition leader Lee Jae-myung won the snap presidential election.

  • The index has now extended its gains for the year, buoyed by hopes of policy shifts and political stability.

AUD swings in a small range only:

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