Trading news

The Gold price (XAU/USD) extends the decline to near $3,315 during the early Asian session on Wednesday. The precious metal edges lower amid easing trade tensions and better risk sentiment in global markets.

Japan Retail Trade s.a (MoM): -1.2% (March) vs previous 0.5%

Japan Large Retailer Sales increased to 3% in March from previous 2%

Japan Retail Trade (YoY) below forecasts (3.5%) in March: Actual (3.1%)

Japan Industrial Production (YoY) declined to -0.3% in March from previous 0.1%

Japan Industrial Production (MoM) registered at -1.1%, below expectations (-0.4%) in March

The EUR/USD pair gains ground to near 1.1390 during the early Asian session on Wednesday. The US Dollar (USD) edges lower against the Euro (EUR) due to softer-than-expected US economic data.

South Korea Industrial Output (YoY) dipped from previous 7% to 5.3% in March

South Korea Service Sector Output down to -0.3% in March from previous 0.5%

South Korea Industrial Output Growth rose from previous 1% to 2.9% in March

The Mexican Peso (MXN) appreciated against the US Dollar (USD) after touching a daily low of 19.65, as risk appetite improved following the release of softer-than-expected data. At the time of writing, USD/MXN trades at 19.56, down 0.12%.

The USD/JPY pair is trading around the 142.00 handle during the North American session on Tuesday. The pair saw some upward movement as the US Dollar (USD) steadied following the release of softer-than-expected US JOLTS Job Openings data and a sharp drop in Consumer Confidence.

In the lead-up to Tuesday's Asian trading session, EUR/JPY has seen a minor decline, trading near the 162.00 mark. Despite a sell signal from one momentum indicator, the broader technical landscape suggests underlying bullish strength, supported by several key moving averages.

Australia will release multiple inflation figures on Wednesday and financial markets anticipate price pressures easing further at the beginning of 2025, paving the way for additional Reserve Bank of Australia (RBA) interest rate cuts.

The AUD/NZD has experienced some downward pressure, hovering near the 1.07 zone on Tuesday. Despite mixed signals from some momentum indicators, the longer-term technical picture appears to favor the bears, with several moving averages reinforcing this sentiment.

United States API Weekly Crude Oil Stock: 3.76M (April 25) vs -4.565M

The AUD/USD pair is struggling near the 0.6400 level as trade policy uncertainty continues to impact sentiment. Investors are awaiting critical data this week, including the US Nonfarm Payrolls (NFP) and GDP figures, which could influence the Federal Reserve’s (Fed) stance on interest rates.

Gold price retreats during the North American session on Tuesday as the Greenback stages a recovery, posting modest gains amid softer US economic data and reduced safe-haven demand. At the time of writing, XAU/USD trades at $3,323, down 0.60%.

The renewed buying pressure prompted the Greenback to leave behind Monday’s pessimism and chart decent gains on Tuesday, always on the back of mitigating US-China trade concerns and rising prudence ahead of key US data releases later in the week.

The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of currencies, is showing muted gains on Tuesday after soft labor market and consumer sentiment data raised expectations for policy easing.