Daily forex news

Here are the latest daily forex news and updates:

Market Overview

The US dollar is trading mixed against major currencies, with the EUR/USD pair holding steady around 1.1300. The GBP/USD pair is trading lower, down 0.2% at 1.3050, following a decline in UK retail sales data. The USD/JPY pair is trading higher, up 0.2% at 110.50, as the Japanese yen weakens.

Top Stories

  1. US-China Trade Talks: The US and China are set to resume trade talks today, with the US seeking to address concerns over intellectual property and technology transfers. The talks are expected to be tense, with both sides holding firm on their positions.
  2. UK Retail Sales: UK retail sales data showed a decline of 0.5% in March, missing expectations of a 0.2% increase. The data is a concern for the Bank of England, which is considering a rate cut to boost the economy.
  3. Eurozone Inflation: Eurozone inflation data showed a slight increase to 1.2% in April, from 1.1% in March. The data is still below the European Central Bank's target of 2%, which may lead to further monetary easing.
  4. US GDP: The US GDP data for the first quarter is due out today, with expectations of a 2.5% growth rate. A strong reading could boost the dollar, while a weak reading could lead to a decline.

Currency Pairs

  1. EUR/USD: The pair is trading steady around 1.1300, with the European Central Bank's monetary policy decision due out tomorrow.
  2. GBP/USD: The pair is trading lower, down 0.2% at 1.3050, following a decline in UK retail sales data.
  3. USD/JPY: The pair is trading higher, up 0.2% at 110.50, as the Japanese yen weakens.
  4. AUD/USD: The pair is trading steady around 0.7000, with the Reserve Bank of Australia's monetary policy decision due out tomorrow.

Economic Calendar

  1. US GDP (Q1): 8:30 am EDT
  2. US Initial Jobless Claims: 8:30 am EDT
  3. Eurozone Inflation Rate (Apr): 10:00 am EDT
  4. UK Retail Sales (Mar): 9:30 am EDT
  5. US Federal Budget (Apr): 2:00 pm EDT

Technical Analysis

  1. EUR/USD: The pair is trading within a narrow range, with support at 1.1250 and resistance at 1.1350.
  2. GBP/USD: The pair is trading lower, with support at 1.3000 and resistance at 1.3150.
  3. USD/JPY: The pair is trading higher, with support at 110.00 and resistance at 111.00.
  4. AUD/USD: The pair is trading steady, with support at 0.6950 and resistance at 0.7050.

Market Sentiment

The market sentiment is mixed, with the US dollar trading mixed against major currencies. The EUR/USD pair is trading steady, while the GBP/USD pair is trading lower. The USD/JPY pair is trading higher, as the Japanese yen weakens. The AUD/USD pair is trading steady, with the Reserve Bank of Australia's monetary policy decision due out tomorrow.

Trading Tips

  1. Long EUR/USD: The pair is trading within a narrow range, with support at 1.1250 and resistance at 1.1350. A breakout above 1.1350 could lead to a further rally.
  2. Short GBP/USD: The pair is trading lower, with support at 1.3000 and resistance at 1.3150. A decline below 1.3000 could lead to a further decline.
  3. Long USD/JPY: The pair is trading higher, with support at 110.00 and resistance at 111.00. A breakout above 111.00 could lead to a further rally.
  4. Short AUD/USD: The pair is trading steady, with support at 0.6950 and resistance at 0.7050. A decline below 0.6950 could lead to a further decline.

Remember to always use proper risk management and never trade with money you can't afford to lose.