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Hello everyone, today XM Foreign Exchange will bring you "【XM Official Website】: Collection of positive and negative news that affects the foreign exchange market". Hope it will be helpful to you! The original content is as follows:
Favorites: No obvious positive news yet. However, as the world's major reserve currency and safe-haven currency, the US dollar may still attract some safe-haven funds to inflow when global economic and financial markets are intensifying, which provides certain potential support for the US dollar.
Favoritable factors: China's domestic economic policies continue to be strengthened. Data from the National Development and Reform Commission showed that equipment updates and consumer goods trade-in policies in the first quarter drove equipment investment to grow by 19%, and consumer retail sales increased by 4.6%. At the same time, inbound travel orders surged by 173% year-on-year during the May Day holiday. Shanghai's "55 Shopping Festival" combined with the optimization of departure tax refunds further released consumption potential, and the stable economic growth provided a solid foundation for the RMB exchange rate. In addition, the US economic data is poor and the US dollar is under pressure, indirectly supporting the stabilization of the RMB exchange rate.
Badministrative factors: There is still uncertainty in the tariff negotiations between China and the United States. The Senate passed the new tariffs by a 49:49 vote, which may be for Sino-US trade relations and the people.The currency exchange rate has a certain impact.
Badministrative factors: The final value of the euro zone manufacturing PMI is 44.8, and it is in a contraction range for seven consecutive months, indicating that the development of the euro zone manufacturing industry is facing difficulties. The ECB's internal differences on the path of interest rate cuts have increased, and policy uncertainty has increased market concerns about the economic outlook of the euro zone, causing the euro index to weaken. In addition, German automakers' profits fell sharply in the first quarter, and were dragged down by US tariffs and supply chain costs, which also had a certain negative impact on the euro.
Benefits: The strong performance of CPI data in German states has provided support to some extent for the euro.
Bondministrative factors: The Bank of Japan maintained its ultra-loose monetary policy, with core CPI rising 2.8% year-on-year in April, but the central bank has not adjusted its yield curve control (YCC) policy, resulting in a decline in the attractiveness of the yen. The Bank of Japan kept interest rates unchanged by 0.5% and lowered its GDP growth forecast. Governor Kazuo Ueda said the timing of interest rate hikes depends on the impact of tariffs, and the uncertainty of the economic outlook has made the yen weak in the foreign exchange market.
Favorites: No obvious positive news yet.
Back to negative factors: The Bank of England has upgraded its dovish bets, and the market expects the Bank of England to cut interest rates by 50bp in May, which puts pressure on the pound exchange rate. The effectiveness of the implementation of the post-Brexit trade agreement remains to be seen, and trade turmoil has also become a key variable affecting the pound.
Favorites: No obvious positive news yet.
Positive factors: Global economic growth slows down, demand for commodities weakens, resulting in a decline in commodity prices, and thus suppressing commodity currencies such as the Australian dollar and Canadian dollar. The Canadian election is in a stalemate, and the Canadian dollar is volatile waiting for political weather.
Favorites: No obvious positive news yet.
The above information is compiled from public content and is for reference only and does not constitute investment advice. When conducting foreign exchange transactions, investors need to pay close attention to various factors such as global economic data, central bank policy trends, and geopolitical situations, comprehensively judge currency trends, and make transaction decisions with caution.
The above content is all about "【XM official website】: Collection of positive and negative news that affects the foreign exchange market". It was carefully compiled and edited by the XM Forex editor. I hope it will be helpful to your trading! Thanks for the support!
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