CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
For institutions
Log in Open account
background image

Weekly FX Chartbook: Fresh USD upside from hawkish bolts and trade threats

Forex 5 minutes to read
Charu Chanana
Charu Chanana

Chief Investment Strategist

Key points:

  • USD: Fresh leg higher likely with higher-for-longer emphasized and trade tensions in focus
  • EUR: Upside limited by June rate cut hopes
  • JPY: Still a buy-on-dips towards 155
  • GBP: Supported by buoyant equity sentiment
  • AUD: Threats from commodities pullback and China tariffs
  • CNH: Downside risks from tariff threats but authorities remain ready to support
    27_FX_Weekly
    Precious metals led the declines last week after recent momentum-driven rally, and more hawkish Fed messaging this week could take a further toll.
    27_FX_Momentum
    Our FX Scorecard shows momentum in yen, CHF and CNH is the weakest with low volatility continuing to fuel carry trading, while high yielders like NZD and GBP outperform.
    27_FX_Positioning
    Forex COT to the week of May 21 saw dollar longs pared for a fourth consecutive week. Renewed demand for EUR, GBP and AUD underpinned, while shorts were added in JPY and CAD.
    27_FX_View

    -----------------------------------------------------------------------

    Recent FX articles and podcasts:

    Recent Macro articles and podcasts:

    Weekly FX Chartbooks:

    FX 101 Series:

    This content is marketing material. 
    None of the information provided on this website constitutes an offer, solicitation, or endorsement to buy or sell any financial instrument, nor is it financial, investment, or trading advice. Saxo Bank A/S and its entities within the Saxo Bank Group provide execution-only services, with all trades and investments based on self-directed decisions. Analysis, research, and educational content is for informational purposes only and should not be considered advice or a recommendation.

    Saxo’s content may reflect the personal views of the author, which are subject to change without notice. Mentions of specific financial products are for illustrative purposes only and may serve to clarify financial literacy topics. Content classified as investment research is marketing material and does not meet legal requirements for independent research.

    Saxo partners with companies that provide compensation for promotional activities conducted on its platform. Some partners also pay retrocessions contingent on clients investing in products from those partners.

    While Saxo receives compensation from these partnerships, all educational and research content remains focused on providing information to clients.

    Before making any investment decisions, you should assess your own financial situation, needs, and objectives, and consider seeking independent professional advice. Saxo does not guarantee the accuracy or completeness of any information provided and assumes no liability for any errors, omissions, losses, or damages resulting from the use of this information.

    Please refer to our full disclaimer and notification on non-independent investment research for more details.

    Saxo Bank A/S (Headquarters)
    Philip Heymans Alle 15
    2900 Hellerup
    Denmark

    Contact Saxo

    International
    International
    Pricing
    Account types
    About Saxo
    Legal

    All trading and investing comes with risk, including but not limited to the potential to lose your entire invested amount.

    Saxo is part of the J. Safra Sarasin Group.

    Information on our international website (as selected from the globe drop-down) can be accessed worldwide and relates to Saxo Bank A/S as the parent company of the Saxo Bank Group. Any mention of the Saxo Bank Group refers to the overall organisation, including subsidiaries and branches under Saxo Bank A/S. Client agreements are made with the relevant Saxo entity based on your country of residence and are governed by the applicable laws of that entity's jurisdiction.

    Apple and the Apple logo are trademarks of Apple Inc., registered in the US and other countries. App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google LLC.