Latest Economic News & Market Analysis Today – Forex, Stocks, Crypto & Commodities | May 5, 2025
The U.S. dollar softened on Monday as the Taiwan dollar surged to a two-year high amid hopes for trade concessions. Gold prices firmed, buoyed by the weaker dollar and ahead of the Federal Reserve’s policy meeting on May 6–7, with spot gold up about 0.5%. Oil slumped more than $2 per barrel in early Asian trade after OPEC+ agreed to accelerate output hikes, sending Brent below $60. Investors are positioning themselves for the Fed to hold rates steady this week, as the central bank meets May 6–7. In equities, Indian benchmarks opened higher on easing trade tensions and steady inflows. Today's major token unlock for Ethena’s ENA token in crypto is set to release 171.88 million tokens, testing liquidity conditions.