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Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
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Asian Stocks Slide as AI Valuation Fears and BOJ Uncertainty Weigh on Markets 
South Korea Warns Weak Won Could Push Inflation Higher in 2025 
Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
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Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
Silver Prices Hit Record High as Safe-Haven Demand Surges Amid U.S. Economic Uncertainty 
Asian currencies gained ground on Thursday, led by a strong rebound in the South Korean won, as the U.S. dollar weakened amid uncertainty over trade negotiations and the Federal Reserve’s interest rate trajectory.
The U.S. Dollar Index dipped 0.2%, extending a week-long slide sparked by soft inflation data and market jitters over U.S. fiscal policy. Analysts at ING noted that while the dollar attempts to recover from April’s sharp drop, concerns over unfunded tax cuts and broader policy risks are likely to limit upside momentum.
The South Korean won outperformed regional peers, with USD/KRW falling 0.8%. The pair had seen wild swings a day earlier, with the won gaining up to 2% before closing flat. Bloomberg reported that South Korean and U.S. officials discussed exchange rate issues during a May 5 meeting, though later clarification revealed that currency policies weren’t part of ongoing global trade talks.
The Taiwanese dollar also strengthened, with USD/TWD down 0.7%. The Japanese yen advanced as USD/JPY dropped 0.5%, ahead of Japan’s Q1 GDP release on Friday. Meanwhile, the Chinese yuan remained stable, with both onshore (USD/CNY) and offshore (USD/CNH) rates showing limited movement.
The Singapore dollar saw mild gains, with USD/SGD slipping 0.2%, while the Indian rupee weakened slightly, with USD/INR rising 0.1%.
In Australia, stronger-than-expected jobs data supported the Aussie dollar. Employment surged by 89,000 in April, reinforcing views of a tight labor market and complicating rate-cut expectations. The AUD/USD pair rose 0.2% ahead of the Reserve Bank of Australia’s rate decision next week, where markets remain divided on the outcome.
Currency markets remain cautious amid shifting global economic signals.
