Berita dagangan

The UK government is aiming to build on recent momentum after trade deals with the US and India. The UK-EU summit on 19 May presents an opportunity to start reducing non-tariff barriers.

Oil prices rose significantly earlier this week, before falling again recently, Commerzbank's commodity analyst Carsten Fritsch notes.

Silver prices (XAG/USD) fell on Friday, according to FXStreet data.

The Japanese economy has not gotten off to a particularly good start this year. According to GDP figures published this morning, economic output declined slightly in the first quarter, falling by 0.2% compared with the previous quarter.

US Dollar (USD) is expected to trade in a sideways range of 7.1970/7.2190. In the longer run, a breach of 7.2330 would indicate that the likelihood of USD declining to 7.1700 has faded, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

USD/CNY fix continues to come in slightly softer (and below spot) for the whole week, last seen trading at 7.2057 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

EUR/USD ticks up to near 1.1200 during European trading hours on Friday.

Scope for USD to grind lower and test 144.95 vs Japanese Yen (JPY); a sustained break below this level seems unlikely. In the longer run, upward momentum has dissipated; USD is expected to consolidate in a range of 144.50/148.50 for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

USD/JPY continued to trade lower amid decline in UST yields. Pair was last at 145.59 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

USD/RUB and EUR/RUB are not market-driven or floating exchange rates. Even so, at this time, these exchange rates are reflecting excessive optimism that the US administration will push for a peace treaty with Ukraine and this will involve some of the harsh sanctions on Russia being removed.

USD turned lower, tracking UST yields lower. DXY was last at 100.75 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

New Zealand Dollar (NZD) is under mild downward pressure against the US Dollar (USD); it could drift lower and test 0.5855. In the longer run, outlook is mixed; NZD is expected to trade in a 0.5835/0.6030 range, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

US natural gas prices fell sharply after storage data from the EIA revealed a larger-than-average inventory build, reinforcing concerns over supply resilience despite year-on-year deficits, ING's commodity experts Ewa Manthey and Warren Patterson note.

South Korea's Trade Minister Ahn Duk-geun said on Friday that “there is a possibility that the trade deal might come after the 8 July deadline.”

Downward momentum has not increased further; Australian Dollar (AUD) is expected to trade between 0.6380 and 0.6445 against US Dollar (USD).

The oil market sold off yesterday following comments from President Trump that the US and Iran were moving closer towards a nuclear deal, ING's commodity experts Ewa Manthey and Warren Patterson note.

Pound Sterling (GBP) could trade in a range of 1.3270/1.3345. In the longer run, GBP is likely to trade in a 1.3140/1.3405 range, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

This week’s data flow has been quite dovish for the Federal Reserve. After the soft April CPI, PPI dropped by 0.5% month-on-month, against expectations of a 0.2% rise, with significant upward revisions for March data.

Gold (XAU/USD) price edges lower and struggles to hold near the $3,200 level at the time of writing on Friday as multiple questions and concerns arise in markets and amongst traders.

Euro (EUR) is expected to continue to range trade, likely between 1.1145 and 1.1235. In the longer run, EUR is likely to consolidate between 1.1100 and 1.1290 for the time being, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.