U.S. Dollar Pulls Back As Oil Dives: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY.BoJ intervened to support the yen, putting additional pressure on the American currency.

RBI issues revised norms for entities dealing in forex.The Reserve Bank of India has introduced revised norms for foreign exchange dealings, ceasing the issuance of fresh licenses for money changers. The new regulations aim to streamline the authorization process for authorized persons and extend the principal-agent model for forex services.

WTI Oil slumps on US-Iran diplomatic progress, EIA inventory drawdown.WTI Oil slumps on US-Iran diplomatic progress, EIA inventory drawdown

LatAm: Hedging demand rises with Banxico in focus – BNY.LatAm: Hedging demand rises with Banxico in focus – BNY

USD/JPY Update: The yen reacts aggressively again, reviving speculation about possible intervention.During the latest trading session, the yen has once again shown a meaningful increase in volatility, with USD/JPY falling by more than 1.00% in the short term in favor of the Japanese currency, reactivating a dynamic of broader price swings.

WSJ: Iran & US mediators are hammering out a one page 14 point memorandum of understanding.The Wall Street Journal is reporting that the Iran and US mediators are hammering out a one-page 14 point memorandum of understanding to end the war. The memorandum would layout a framework for a month-long period of talks.

USD: Peace progress and Oil slide weigh – MUFG.USD: Peace progress and Oil slide weigh – MUFG

SEK: Positive real rates support currency outlook – BBH.SEK: Positive real rates support currency outlook – BBH

Fed's Musalem: inflation is meaningfully above target.Fed's Musalem: inflation is meaningfully above target

EUR/JPY declines as stronger Yen on intervention risks offsets ECB tightening expectations.EUR/JPY declines as stronger Yen on intervention risks offsets ECB tightening expectations

Brent Heading Towards De-escalation.At the start of the week, the nearest Brent futures contract once again exceeded $113, hitting the ceiling formed since the start of the armed conflict in the Middle East following news that Iran had resumed attacks on the UAE's energy infrastructure. However, on Wednesday, Brent crude fell by more than 10% intraday to $97, as the US announced the maintenance of the ceasefire and the conclusion of Operation Epic Fury.

Crude Oil Price Analysis – Oil Plunges on Signs of Peace to Test Support.The light sweet crude oil market has plunged early on Wednesday as we get news that the Americans and Iranians might be closer to peace.

Natural Gas Price Analysis – Natural Gas Continues to Drift Lower in Shoulder Season.The natural gas market has drifted a bit lower during the early hours on Wednesday, as demand will continue to be weak at this time of year.

Iran update: Conflicting messages from Israel. France says they can make the Hormuz safe..On peace negotiations, reaction from Israel is conflicting: Israel was reportedly unaware that the US was nearing a deal with Iran had been preparing for an escalation. Israel security/military officials reportedly believe negotiations are a waste of time and conveyed to the US a desire to resume attacks on Iran.

Canada Ivey Purchasing Managers Index s.a came in at 57.7, above forecasts (49.9) in April.Canada Ivey Purchasing Managers Index s.a came in at 57.7, above forecasts (49.9) in April

USD/JPY, USD/MXN and USD/ZAR Forecasts – US Dollar Drops with Rates in the US.The US dollar fell significantly during the early part of Wednesday trading, with the yields in America playing a large role in the move.

USD/JPY: Recovery risks for carry trades – Societe Generale.USD/JPY: Recovery risks for carry trades – Societe Generale

Peace Deal or Bigger War? Markets Reassess Iran Optimism After Trump Warning.Geopolitics is once again dominating global markets today, with investors rapidly shifting between optimism over a potential US-Iran peace framework and fears of renewed escalation. Earlier in the session, risk appetite improved sharply after reports suggested Washington and Tehran were nearing a one-page, 14-point memorandum of understanding designed to end the war and establish a framework for broader nuclear negotiations.

GBP: Political risks build but currency holds – MUFG.GBP: Political risks build but currency holds – MUFG

Fed: Warsh's policy shift and Dollar outlook – Commerzbank.Fed: Warsh's policy shift and Dollar outlook – Commerzbank

Treasury announces the auction schedule for next week..Separately, the U.S. Treasury said future increases in auction sizes will be guided by trends in structural demand as well as the potential costs and risks tied to its overall issuance profile. The department also signaled that it expects to further increase the size of shorter-dated benchmark bill auctions and may issue additional short-dated cash management bills to meet elevated liquidity needs around the end of May.

US ADP Jobs Growth Accelerates to 109k as Hiring Strengthens at Small and Large Firms.US private sector employment growth accelerated in April, with ADP payrolls rising 109k, well above expectations of 79k and significantly stronger than March's 61k gain.

US April ADP employment +109K vs +99K expected.For background, the ADP National Employment Report is a widely followed monthly gauge of U.S. private-sector hiring, produced by the ADP Research Institute in collaboration with the Stanford Digital Economy Lab. It draws on aggregated and anonymized payroll data from over 26 million employees, making it one of the largest non-government labor market datasets available.

United States ADP Employment Change registered at 109K above expectations (99K) in April.United States ADP Employment Change registered at 109K above expectations (99K) in April

USD/JPY and Crude Oil Forecast: US-Iran Optimism Builds Ahead of Key Data.We have seen some big moves across financial markets today with oil prices sliding more than 10% amid optimism about a deal between the US and Iran to end the blockade in the Strait of Hormuz. With oil plunging, stagflation worries have receded sharply, and investors have piled back into European stocks, metals and foreign currencies, while selling the US dollar.

Trump Just Unleashed A Stealth Weapon Against China — And The Gulf Took The Bait.To add Benzinga News as your preferred source on Google, click here. For more than a decade, China has been waging a quiet offensive against the U.S. dollar, and the front line has been oil.

US President Trump: If Iran doesn't agree, bombing starts at much higher level.US President Trump: If Iran doesn't agree, bombing starts at much higher level

investingLive European markets wrap: End in sight to US-Iran war? Or another false dawn?.Is it all too good to be true? Things are starting to take shape today in what looks to be a potential path towards ending the conflict between the US and Iran.

USD/JPY: Intervention fears drive sharp gains – BNY.USD/JPY: Intervention fears drive sharp gains – BNY

US dollar to remain stuck in range, dependent on the Strait of Hormuz: Reuters poll .Developments in the U.S.-Israel war with Iran will steer the dollar in the near term, said FX strategists in a Reuters poll, who held on to their outlook for the currency to stay range-bound before weakening later this year.