View:

May 23, 2025

North American Summary and Highlights 23 May
Freemium Article

May 23, 2025 7:33 PM UTC

Overview - The USD was weak, before and after renewed tariff threats from Trump against the EU and imported iPhones. 

FX Weekly Strategy: May 26th-30th
Paying Article

May 23, 2025 3:10 PM UTC

US/EU tariffs the main focus
USD weakness and JPY strength likely to extend modestly
AUD still looks well supported at 0.64

U.S. April New Home Sales - Stronger than most housing sector signals
Paying Article

May 23, 2025 2:16 PM UTC

April new home sales at 743k are surprisingly strong and in contrast to the majority of housing sector indicators that have recently shown signs of weakness. The suprise is however partially offset by a downward revision to March, to 670k from 724k, a number most though would not be matched in April

Preview: Due May 27 - U.S. April Durable Goods Orders - Aircraft to plunge, ex transport also seen lower
Paying Article

May 23, 2025 1:20 PM UTC

We expect April durable goods to fall by 9.0% after a 9.2% increase in March. The fall will be largely on a reversal a of a March surge in aircraft, but we expect a 0.3% decline ex transport, which would be the first fall since November 2024 and the steepest fall since January 2024.

Canada March Retail Sales rise, with autos strong and gasoline weak, April seen firmer
Freemium Article

May 23, 2025 12:51 PM UTC

Canada’s 0.8% rise in March retail sales is slightly stronger than a 0.7% preliminary estimate made with February’s release, but the rise is more than fully explained by what was the first rise in three months for autos, possibly related to concerns about upcoming tariffs. Ex auto sales fell by

EUR, USD flows: EUR falls as Trump proposes 50% tariff
Paying Article

May 23, 2025 12:22 PM UTC

The proposal of a 50% tariff on the EU to start on June 1 has hit the EUR

Psychology for major markets May 23
Paying Article

May 23, 2025 10:15 AM UTC

Riskier currencies firmer on stronger European data

Europe Summary and Highlights 23 May
Paying Article

May 23, 2025 10:12 AM UTC

The USD was generally weaker against the riskier currencies, helped by strong UK and German data

This week's five highlights
Freemium Article

May 23, 2025 10:00 AM UTC

Fed Speakers This Week
UK-EU Getting Back on the (Political) Fence
RBA Cut by 25bps
How Durable a Surge in UK CPI 
The Greenback Stays Pressured

FX Daily Strategy: N America, May 23rd
Paying Article

May 23, 2025 9:00 AM UTC

JPY to stay well supported by rising CPI
CHF/JPY remains the clearest value trade
GBP may gain on retail sales but hard to see sustained break lower in EUR/GBP
USD likely to be resilient on home sales data

Chart USD/CHF Update: Shallow bounce from .8200 support
Paying Article

May 23, 2025 8:00 AM UTC

Turned up from the support at the .8200 congestion as prices consolidate losses from the .8480 resistance

Chart EUR/GBP Update: Under pressure, .8400/.8385 support at risk
Paying Article

May 23, 2025 7:44 AM UTC

Prices remains under pressure after shallow bounce from the June/July lows was checked at the .8450/.8475 resistance

Chart USD/CAD Update: Under pressure, focus on 1.3750 low
Freemium Article

May 23, 2025 7:07 AM UTC

Under pressure as prices extend rejection from the 1.4000/25 resistance

EUR, GBP flows: Data supportive of EUR and GBP
Paying Article

May 23, 2025 6:40 AM UTC

Strogn UK retail sales and upward revision in German GDP should underpin EUR and GBP

Chart USD Index DXY Update: Room to extend losses
Paying Article

May 23, 2025 6:09 AM UTC

Edged up from the 99.33 low as prices consolidate losses from the 102.00 high of last week

Chart USD/CNH Update: Weighing on 7.2000, break in focus
Paying Article

May 23, 2025 5:39 AM UTC

Weighing on the 7.2000 level and break here will expose the 7.1800/7.1790 lows to retest

Chart USD/INR Update: Lower in consolidation from 86.1025 high
Paying Article

May 23, 2025 5:33 AM UTC

Settled back below the 86.1025 high as prices unwind the overbought intraday studies

Asia Summary and Highlights 23 May
Freemium Article

May 23, 2025 4:54 AM UTC

Japan April National Headline CPI 3.6% y/y

AUD/USD flows: Risk sentiment still choppy
Paying Article

May 23, 2025 4:22 AM UTC

Risk sentiment still choppy on the last trading day of the week

FX Daily Strategy: Europe, May 23rd
Paying Article

May 23, 2025 4:09 AM UTC

JPY to stay well supported by rising CPI
CHF/JPY remains the clearest value trade
GBP may gain on retail sales but hard to see sustained break lower in EUR/GBP
USD likely to be resilient on home sales data

Chart USD/IDR Updates: Weighing on 16300 support, break in focus
Paying Article

May 23, 2025 3:12 AM UTC

Consolidating test of support at 16300 congestion but pressure remains firmly on the downside

Chart USD/MYR Update: Consolidating, room for lower later
Paying Article

May 23, 2025 3:03 AM UTC

Consolidating test of the 4.2500 support but this is expected to give way to break lower

Chart USD/THB Update: Consolidating retest of 32.56 low
Paying Article

May 23, 2025 2:34 AM UTC

 Turned up from retest of the 32.56 current year low as prices unwind oversold intraday studies

Chart USD/SGD Update: Higher in range above 1.2861, current year low
Paying Article

May 23, 2025 2:10 AM UTC

Higher in range as prices extend consolidation above the 1.2861, 5 May YTD low

Chart GBP/USD Update: Room to extend gains
Freemium Article

May 23, 2025 1:21 AM UTC

Locked within a narrow range below fresh year high at 1.3468 as prices consolidate gains from the 1.3140 low of last week