Silver price turned negative on Friday during the North American session, poised to end the week with losses of over 1.80% as the dollar staged a recovery during the day. XAG/USD trades at $32.87, down 1.29%.
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Australia’s April CPI stayed within the RBA’s target band, with core inflation inching higher and complicating the case for another rate cut.
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The Australian Dollar (AUD) is consolidating against the US Dollar on Friday as fresh domestic data and monetary policy expectations for the Reserve Bank of Australia (RBA) and the US Federal Reserve (Fed) continue to drive price action.
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The Dow Jones Industrial Average (DJIA) stumbled on Friday as investors continue to get pummeled with new trade concerns from the White House.
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What were Brent and WTI crude oil prices and what are the forecasts for Brent and WTI crude oil for 2024? What factors influenced oil prices?
The post 2024 Crude Oil Forecast: Analysing Market Trends and Price Predictions appeared first at R Blog – RoboForex.
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The Canadian Dollar (CAD) found some room on the top side on Friday, spurred higher by a better-than-expected print in Canadian Gross Domestic Product (GDP) growth figures for the first quarter.
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USD/CHF trades subdued on Friday after a US report showed that inflation is approaching the Federal Reserve’s (Fed) 2% goal. Meanwhile, US President Trump complained about the slow negotiations between Beijing and Washington, which have roiled the markets.
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Last week, Amazon and Apple announced earnings which beat expectations, but potential headwinds lay ahead. Read more about this and other news here.
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MT4 and MT5 blackout in China
Another week, another set of major happenings in the FX and CFD space. In Mainland China, FX traders faced widespread disruptions in connecting to MetaTrader 4 and MetaTrader 5 broker servers.
Traders were unable to locate broker servers through the popular MT4 and MT5 mobile trading apps as the market tried to determine whether it was a technical issue or a looming regulatory crackdown on foreign leveraged trading platforms.
“China is not an open market, but it is a great market,” Sophie Squillacioti, MultiBank’s Head of China Sales, told Finance Magnates when discussing the intricacies of the Chinese forex and contracts for differences (CFDs) market. She added, “The Chinese market is very developed in this industry.”
In the disruption that lasted for more than a week, new users were unable to locate broker servers through the popular trading applications, according to industry sources familiar with the matter.
The connectivity problems, which began in the second half of May, primarily affected new users attempting to register with FX brokers through the MT4 and MT5 mobile applications.
In response, MetQuotes announced the release of MT4 Android build 1445 and MT5 Android build 4981, specifically addressing issues affecting Chinese users.
IG Group to exit South Africa
Away from the regulatory crackdown in China, IG Group is reportedly closing down its local South African business. However, the broker will allow South Africans to maintain accounts under the group’s offshore entities.
The reason behind IG’s sudden closure of its South African operations remains unknown. The broker stated that it will stop opening new positions tomorrow, and existing clients will have until 28 July 2025 (4 p.m. CAT) to close all open positions.
“We are hereby providing notice of termination of the contract between us. This change does not affect any international (offshore) accounts you may hold with IG based in the UK or elsewhere – all positions in your offshore accounts will continue unaffected.”
Interestingly, Scope Prime has expanded its CFDs offerings in South Africa to include equities and exchange-traded funds listed on the Johannesburg Stock Exchange, positioning itself against competitors who are reducing their presence in the region.
SEC dropped lawsuit against Binance
In the crypto space, the US Securities and Exchange Commission voluntarily dismissed its lawsuit against Binance after two years.
This means that the agency cannot pursue the case again. The exchange was also accused of facilitating the trading of cryptocurrencies that could be classified as unregistered securities.
New rules for Malta-regulated crypto firms
Still in the crypto space, the regulator in Malta now requires locally licensed crypto companies, known as crypto-asset service providers, to ensure that “EU/EEA clients are directed to a dedicated website containing information specifically pertaining to them.
The regulator found that some of these firms maintain complex website structures, particularly those that are part of global entities with layered navigation and content targeting multiple jurisdictions.
Circle seeks $6.7 billion valuation in NYSE IPO
Following the eToro IPO, Circle Internet, the company behind the USDC stablecoin, plans to go public in the United States. Through an initial public offering, the company aims for a valuation of up to $6.71 billion on a fully diluted basis.
In a filing on Tuesday this week, Circle said it plans to sell about 9.6 million shares. Some of its existing shareholders also intend to sell roughly 14.4 million shares. At the same time, the crypto space is focusing on sports sponsorship deals.
According to a report by Sportquake, Crypto.com has spent $213 million on sports deals in the ongoing season, substantially more than the next spender, Coinbase, at $80 million. OKX and Gate.io spent $71 million and $53 million, respectively, while Binance spent $31 million.
Football sponsorship shake-up
“Betting is the fifth-biggest spender on sports sponsorship globally and the second-largest spending brand category in Premier League sponsorship,” Matt House, CEO of SportQuake, told FinanceMagnates.com, as the UK is preparing to ban teams from displaying betting brands on shirts.
Interestingly, 11 Premier League teams currently feature a gambling sponsor on the front of their shirts. According to figures from GlobalData, the combined value of these shirt sponsorship deals in the ongoing season is $135.43 million (£101.1 million). House revealed that betting brands account for 10% of total Premier League sponsorship spending.
Financial content creators need a “finfluencer” license in the UAE
The United Arab Emirates introduced a new licensing requirement for individuals who create financial content online. The Securities and Commodities Authority launched what it calls a “finfluencer” licence.
#influencers who create content on #investments, #trading, or #financial advice in the #UAE are now required to apply for a licence. The Securities and Commodities Authority (SCA) recently announced the launch of this new ‘influencer’ licence, the first of its kind in the… pic.twitter.com/xqvjrUjjpg
— Khaleej Times (@khaleejtimes) May 28, 2025
The licence is aimed at influencers who offer investment advice, market analysis, or financial promotions through digital channels. This includes social media, blogs, YouTube, podcasts, and webinars. It also reportedly applies to in-person events.
OANDA, NinjaTrader fined by NFA
On the regulatory front, the National Futures Association (NFA) ordered New York-based forex dealer OANDA Corporation to pay a $600,000 penalty following a series of alleged compliance failures, including inadequate capital practices and issues with client transparency.
The agency also fined NinjaTrader $250,000, alleging serious gaps in its compliance framework. According to the association, the Chicago-based futures commission merchant faced regulatory scrutiny over failures in its anti-money laundering program and overall supervision procedures.
Nvidia’s big day
Chipzilla Nvidia is set to announce Q1 earnings, and Wall Street’s already salivating over a projected 66% revenue jump, thanks to AI mania and some well-timed Middle East deals.
When you’re the king of AI chips, every earnings call is a referendum on the future of tech. Nvidia, whose GPUs power everything from ChatGPT to self-driving cars, is about to release its Q1 2025 results, and the financial and tech worlds are on edge.
Trump Tariffs—Europe
Also concerning Trump’s sweeping tariffs: the EU is ready to rumble, and America’s travel industry just got caught in the crossfire.
The former-turned-current president is threatening a sweeping 50% tariff on all EU imports. The EU’s trade chief, Maros Sefcovic, said of the saturation, “EU-US trade is unmatched and must be guided by mutual respect, not threats. We stand ready to defend our interests.”
BREAKING: Trump backs down from his EU tariff threat. Again. What a clown show. pic.twitter.com/M7PKrI0Ffi
— Republicans against Trump (@RpsAgainstTrump) May 25, 2025
The result: Tourists from countries targeted by Trump’s tariffs, such as Germany, Canada, Japan, and Mexico, are opting out of US vacations. They’re not just cancelling road trips; they’re scrapping their entire itinerary.
Executive moves
In our executive move segment this week, Cboe Global Markets announced the departure of its Global President, Dave Howson. After three years
in Chicago steering the exchange operator’s global expansion, Howson plans to
return to the UK.
Elsewhere, Leverate, a technology provider for forex and
prop trading companies, has named Idan Stambulchik the new Head of Product. Before his promotion, Stambulchik served as the Product Lead for the company
for four months.
Lastly, HF Markets (HFM) has appointed Ahmad Qutaishat as Senior Business Development Manager, marking another senior-level hire for the
brokerage as it continues to expand its regional operations. Qutaishat joins
HFM after serving as Vice President of Sales at ATFX MENA for nearly one year.
This article was written by Jared Kirui at www.financemagnates.com.
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Data from China’s National Bureau of Statistics (NBS) released on Saturday, May 31, 2025, official May 2025 PMIs
Manufacturing Sector
PMI: Rose to 49.5 (expected 49.5 and from 49.0 in April); still below the 50 threshold, indicating contraction for a second month. The improvement in May is likely reflecting some thawing in the icy trade war that chilled again this week. Purchasing managers nevertheless took a cautious approach, evidenced by the index remaining in contraction, amid lingering, and proved justified, uncertainties.
Large enterprises: PMI at 50.7 (expanding, +1.5 pts).
Medium-sized: 47.5 (contracting, -1.3 pts).
Small enterprises: 49.3 (contracting, but improved +0.6 pts).
Sub-indices:
Production: 50.7 (expanding, +0.9 pts).
New orders: 49.8 (contracting, but rebounding +0.6 pts).
Raw material inventories: 47.4 (still weak, but decline narrowing).
Employment: 48.1 (slightly improved, but below threshold).
Supplier delivery times: 50.0 (neutral).
Non-Manufacturing Sector
Headline PMI: 50.3 (expected 50.6 and slightly down from 50.4 in April, but still expanding).
Construction activity: 51.0 (moderate growth, down 0.9 pts).
Services activity: 50.2 (marginal growth, up 0.1 pt).
High-performing industries: Rail, air transport, postal, telecoms, IT (all above 55.0).
Weak sectors: Real estate and capital markets (below 50).
New orders: 46.1 (rising, but still weak).
Construction: 43.3 (+3.7 pts).
Services: 46.6 (+0.7 pts).
Input prices: 48.2 (still declining, but at a slower pace).
Selling prices: 47.3 (decline narrowing).
Employment: 45.5 (unchanged, remains weak).
Business expectations: 55.9 (slightly down, but still optimistic).
—
I posted on Friday on promises of more stimulus incoming:
As I said in the post:
I suspect as that date approaches excitement and pumping will build, only to be dashed. Enough whining, its the weekend! Have good one and don’t forget to join early on Monday for the market response to all the news the weekend will bring.
This article was written by Eamonn Sheridan at www.forexlive.com.
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The major US stock indices are trading lower to start the last trading day of the week end of the month. A snapshot of the levels currently shows:
Dow Jones (DJI): 42,104.40, -111.33 (-0.26%)
S&P 500 (SPX): 5,887.38, -24.79 (-0.42%)
Nasdaq Composite (IXIC): 19,064.80, -111.07 (-0.58%)
For the trading week, the indices are up between 1% and 2%:
For the month of May:
This article was written by Greg Michalowski at www.forexlive.com.
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The USD moved lower after the data that showed inflation was under control – for now. The trade data saw a big improvement. The personal income data was solid.
Not so hot is Pres. Trump tweeted that China violated the trade agreement:
Stocks are lower. Yields are near unchanged.
The USD moved lower initially, but is moving modestly higher after the initial move.
EURUSD: The EURSUD moved above the 100-hour MA at 1.13342. The high reached 1.1357. The 1.1362 and 1.13803 are tatgets. THe high today reached 1.1389.
USDJPY: The USDJPY moved away from the 100 and 200-hour MA between 144.98 and 143.85. That area will now be resistance on a rebound.
GBPUSD: The GBPUSD moved higher and away from the 200-hour MA at 1.3475, but stalled at the higher 100-hour MA at 1.3501. Earlier today, the high stalled at the 100 hour MA increases the levels importance going forward.
USDCHF: The USDCHF has solid resistance against the 100/200 hour MA and the 50% of the range since April. That area comes between 0.8252 to 0.8257. ON the downside, a swing araa floor comes between 0.8193 to 0.8212. Getting below is more bearish.
This article was written by Greg Michalowski at www.forexlive.com.
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