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Oil Prices Slip as U.S.–Iran Talks Ease Supply Disruption Fears 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
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Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
Asian Markets Slip as AI Spending Fears Shake Tech, Wall Street Futures Rebound 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
U.S. Stock Futures Edge Higher as Tech Rout Deepens on AI Concerns and Earnings 
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.
