China Agrees to Buy 20 Million Tons of U.S. Coal 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Fed Unveils Stablecoin Rules Under GENIUS Act 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
US Comfortable With Canada Trade Standoff as Import Bans Loom 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
Trump, Xi Focus on Trade and AI at White House Summit 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
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The U.S. dollar started the week on steady footing, trading at 143.57 yen and $1.1360 per euro, as investors braced for a wave of economic data that could reveal the impact of President Donald Trump's ongoing trade war. Despite stabilizing, the dollar remains on track for its largest monthly decline in nearly two and a half years, having dropped over 4% against both the euro and yen in April.
Signs of easing tensions between the U.S. and China last week, including reduced tariffs and more conciliatory rhetoric, helped the greenback recover slightly. However, uncertainty persists, as Beijing denies active trade negotiations despite Trump’s claims of progress. U.S. Treasury Secretary Scott Bessent also refrained from confirming any ongoing tariff talks.
Markets are now focused on upcoming key indicators, including April’s U.S. jobs report, first-quarter GDP data, and the Fed’s preferred inflation gauge, core PCE. A slowdown in hiring is anticipated, potentially influencing the dollar’s trajectory.
Meanwhile, the Australian dollar hovered near recent highs at $0.64, with traders eyeing Wednesday’s inflation data ahead of an expected rate cut. The New Zealand dollar also remained firm near $0.60. In Canada, voters head to the polls Monday, but little currency volatility is expected, with the Canadian dollar steady at C$1.3874.
The Bank of Japan will announce monetary policy on Thursday, with no major changes expected. Attention will be on the outlook, particularly amid speculation about U.S.-Japan trade talks influencing currency dynamics. Japan’s top currency official, Atsushi Mimura, denied reports that the U.S. favors a weaker dollar.
