Barclays cut Brent crude price outlook, citing faster-than-expected output hikes by OPEC+Oil price futures gap lower to open the week's trade - OPEC+ supply hike citedOPEC+ to accelerate oil output hikes, warns of ending voluntary cuts if compliance lags
An impossible move for the Taiwan dollar, that happened anyway!
MUFG on the Taiwan dollar move a "19-standard-deviation event"Surging TWD fuelling revaluation talkOther:
Goldman Sachs sees Chinese exports declining through 2025, 2026Vietnam PM says U.S. tariffs negatively affect global economyAustralian PM Albanese won the weekend election, says spoke to Trump afterWeekend elections - Australia, Singapore, RomaniaTrump interview - full transcript - Trump's opinion on how many toys kids should haveAustralia job ads for April +0.5% m/m (prior +0.4%)US dollar losing ground in holiday-thinned Asia tradeAustralia TD-MI Inflation Gauge, April 2025: 0.6% m/m (prior 0.7%) & 3.3% y/y (prior 2.8%)Trump's retreat on China tariffs ICYMI - lower tariffs “At some point"Japanese, South Korean, Hong Kong and Chinese markets are closed today for holidaysRBNZ flags financial stability risks from rapid AI adoptionTrump says he has no plans to speak with Xi this weekTrump announces more tariffs - plans 100% tariff on all movies produced overseasBessent's weekend Wall Street Journal op-ed - talking pointsAustralian S&P Global Services PMI for April 2025, final reading 51.0 (prior 51.6)Buffett confirms Greg Abel will take over as CEO of Berkshire Hathaway at the end of 2025Eastern Europe - Romania’s Simion leads presidential race, Dan edges into runoff spotTrump's clearest Greenland threat yet, won’t rule out military action against NATO allyJapan (further) walks back Treasury threat, says no plan to use holdings as trade leverageFT says Chinese exporters ‘washing’ products in 3rd countries to avoid Trump tariffsWeekend - Trump said he won't remove Powell before his term ends in May 2026Economic calendar in Asia Monday, May 5, 2025 - data due from Australia and SingaporeTrade ideas thread - Monday, 5 May, insightful charts, technical analysis, ideasMonday morning open levels - indicative forex prices - 05 May 2025Newsquawk Week Ahead: FOMC, BoE, US ISM Services PMI, Canada jobs and China tradeForexlive Americas FX news wrap: US jobs continue to support solid employmentOil: OPEC+ agreed over the weekend to raise output by another 411,000 barrels per day in June, repeating May’s surprise hike. This latest move is nearly triple some early expectations and marks the second straight month of accelerated supply increases. I’ve grouped the OPEC+ posts above — be sure to read the final one, which offers a counterpoint to the prevailing market narrative, even if it’s not being fully priced in yet. → Oil prices gapped lower as trading reopened for the week.
Trump’s Headlines: The U.S. President made multiple headlines over the weekend:
Plans to impose a 100% tariff on foreign-made movies (see post above).
Said he has no plans to speak with Xi Jinping this week.
FX – Taiwan Dollar and Regional Moves: The Taiwan dollar was again the standout mover, following its historic surge on Friday. MUFG described that move as a 19-standard deviation event — statistically implausible under normal market models, and yet… here we are. (I’ve grouped the TWD posts; the second one offers a good breakdown of why such moves can occur in FX, despite the math.) TWD surged again today, driven by speculation of revaluation pressure.
The offshore yuan (still trading despite China’s holiday) hit its strongest level since November.
The Hong Kong dollar again touched the strong end of its permitted trading band.
Gold: Gold prices firmed during Asian trade but have since given back some gains.
Oil:
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( ForexLive Asia-Pacific FX news wrap: Oil gap down, TWD 19 sigma (ie impossible) move up )
Also on site :