Chart EUR/CAD Update: Room for a test higher

May 12, 2026 10:23 AM UTC

Little change, as prices extend cautious trade around 1.6100

FX Daily Strategy: N America, May 12th

May 12, 2026 9:25 AM UTC

Volatility keeps compressing though maybe some tensions showing at the edges
No shift in ranges and trends yet, but if the fever breaks, USD and JPY correct
US CPI data to keep the Fed in defensive wait and see mode
GBP plays the 'political short' trade as gilts spike, though spec mkt was positioned
Foc

Chart USD/CHF Update: Gains to remain limited

May 12, 2026 8:13 AM UTC

Cautious trade is giving way to a drift higher

Psychology for major markets May 12

May 12, 2026 8:02 AM UTC

U.S. Treasury secretary Scott Bessent says U.S. and Japan both believe forex volatility is undesirable

Chart USD Index DXY Update: Edging higher in range

May 12, 2026 7:58 AM UTC

The anticipated break below congestion support at 98.00 has proven shallow

GBP/USD, EUR/GBP flows: Having another stab at the 'political short' trade

May 12, 2026 7:44 AM UTC

Gilts spike at open after further news of Labour push to replace Starmer
Technicals had already suggested some scope for GBP correction
That said, the narrative is a bit one-dimensional, and there is already short spec positioning

Chart EUR/USD Update: Choppy in range

May 12, 2026 7:35 AM UTC

Little change, as prices extend choppy trade within the 1.1750 - 1.1800 range

Chart GBP/USD Update: Leaning lower

May 12, 2026 7:28 AM UTC

Choppy trade has been pushed back from congestion resistance at 1.3660

USD/JPY, EUR/USD, AUD/USD flows: Dollar touch firmer in ranges, firmer on regionals

May 12, 2026 7:01 AM UTC

Further Iran slating keeps dollar supported, but trade still in ranges
Lack of volatility belies uncertainty, while Asia regionals show a bit more dollar impetus
Market still reads glass half empty for JPY in US support

AUD/USD flows: Mood Sours

May 12, 2026 5:10 AM UTC

Iran is ready to dilute highly enriched uranium to levels of 3.7% and 20%
Trump said the ceasefire is "on life support"

FX Daily Strategy: Europe, May 12th

May 12, 2026 4:16 AM UTC

Volatility keeps compressing while the 'dash for compute' o/b rally and options arm wrestle goes on
No break in trend but if the fever breaks, USD and JPY correct
US CPI data to keep the Fed in defensive wait and see mode
Focus starts to turn to US-China meetings

USD/JPY flows: Japan and U.S. Currency Talks

May 12, 2026 2:42 AM UTC

Japan and U.S. reaffirm currency cooperation after Bessent's Tokyo talks

Chart GBP/USD Update: Choppy trade pressuring 1.3600/50 resistance

May 12, 2026 1:30 AM UTC

Higher in choppy trade above support at the 1.3512/00 congestion to retest strong resistance at the 1.3600/50 area

Chart EUR/USD Update: Range-bound below 1.1800 resistance

May 12, 2026 1:19 AM UTC

Little change, as prices stays range-bound below resistance at the 1.1800 congestion

Chart USD/JPY Update: Higher in consolidation

May 12, 2026 12:45 AM UTC

Pressing higher as prices extend bounce from the 155.00 spike low

Chart NZD/USD Update: Range-bound above .5930 support

May 12, 2026 12:25 AM UTC

Little change, as prices extend consolidation below the .5990 high of last week