Australia Projects Lower Budget Deficits and Moderate GDP Growth Through 2027/28
Australia forecasts budget deficits of A$28.3 billion in 2025/26, rising slightly to A$31.5 billion in 2026/27 and A$31.0 billion in 2027/28, with net debt expected to reach 21.9% of GDP by 2029/30. The government anticipates GDP growth around 2.25% and inflation easing to 2.5% by 2029/30, while unemployment is projected to stay near 4.25-4.5%. Treasurer Chalmers stated the budget supports efforts to combat inflation.
US Dollar Price Forecast: DXY Holds $98.26 on Ceasefire Calm — CPI Data to Drive GBP/USD and EUR/USD?
Reduced geopolitical tensions are weighing on the Dollar as investors rotate into riskier currencies. DXY remains capped inside a descending channel near $98.26, EUR/USD grinds higher above $1.174, and GBP/USD defends key support.
EUR/JPY Price Forecast: Steadies above 185.00, moving averages following ZEW Survey data
EUR/JPY Price Forecast: Steadies above 185.00, moving averages following ZEW Survey data
ECB’s Patsalides Signals Possible Pause in Interest Rate Hikes
ECB official Patsalides indicated that there are scenarios where the European Central Bank might decide not to raise interest rates further. This suggests a cautious approach to future monetary policy adjustments amid evolving economic conditions.
Gold (XAUUSD) & Silver Price Forecast: Ceasefire Holds — Gold Tests $4,700 Support, Silver Hits $84.10 — Next Break?
Gold trades at $4,702.60 testing the lower blue descending channel with neutral RSI, while silver surges to $84.11 displaying strong momentum above $82 support. Central bank demand and persistent industrial shortages underpin both metals amid fading geopolitical risks.
Eurozone ZEW Survey Expectations Improve to -9.1 in May
The Eurozone ZEW survey expectations for May rose to -9.1 from the previous -20.4, indicating a less pessimistic outlook among investors and analysts. This improvement suggests growing confidence in the Eurozone economic outlook.
EUR/GBP Surges as Markets Price “Zombie Government” Risk as Starmer Crisis Deepens
Sterling plunged sharply today while UK bond yields surged above 5.1% after the first ministerial resignation calling for Prime Minister Keir Starmer to step down transformed simmering political anxiety into something much more dangerous for markets: the perception that Britain may now be drifting toward a “zombie government.”
Canada Aims to Conclude Free Trade Agreements with Philippines and ASEAN in 2024
Canada's International Trade Minister announced plans to finalize free trade agreements with the Philippines and ASEAN countries by the end of this year. These agreements aim to enhance trade relations and economic cooperation between Canada and the involved nations.
Traders Anticipate Three 0.75% BOE Rate Hikes in 2026
Market traders have fully priced in the expectation of three quarter-point interest rate increases by the Bank of England in 2026. This reflects growing consensus on tightening monetary policy to address economic conditions.
USD/CAD Price Forecast: Prepares for fresh rally above 1.3700
USD/CAD Price Forecast: Prepares for fresh rally above 1.3700