Today's Forex Market Update 9 May 2025

The forex market today is influenced by ongoing trade optimism and central bank developments.

The US Dollar is gaining traction due to mixed economic signals and hopes for US-China trade progress, with USD/CHF showing notable strength.

GBP/USD is volatile, trading between 1.3177-1.3288, while EUR/USD consolidates above 1.1250.

The Japanese Yen weakened due to profit-taking amid global trade uncertainty, and the Indian Rupee faces pressure from regional tensions.

XAUUSD Gold dropped 1.5% after a US-UK trade deal announcement, while oil rose 3% on US-China trade hopes.

Key events to watch include Canada’s jobs data at 4:30 PM and upcoming Australian economic indicators on May 13.

Markets remain cautious, with potential volatility driven by trade talks and economic data releases.