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.

author: Economician

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3 minutes

category:economy

Forex Markets

USD & Asian Currencies

The U.S. dollar dipped 0.3% as the Taiwan dollar jumped over 3% to a two-year high, suggesting some Asian central banks may be seeking revaluations for trade leverage, Reuters.
The Indian rupee strengthened around 1% week-on-week to 84.58 per dollar, buoyed by expected RBI bond purchases and portfolio inflows, while 10-year yields fell to 6.3538% amid rate-cut bets, Reuters.

Other Currencies

The Hong Kong Monetary Authority intervened, selling HK$46.54 billion to defend the peg after the HKD hit the strong side of its trading band, its first such move since October 2020, Reuters.

Stock Markets

Global Stocks Overview

Due to holidays in several markets, there was no Reuters Asia-hours global markets report on Monday, May 5, on TradingView.
Wall Street stocks notched their second straight weekly gain last Friday, lifted by stronger U.S. employment data and easing trade-war concerns, Reuters.

Regional Highlights

Indian shares opened solidly higher, with the Nifty 50 up 0.59% at 24,487.14 and the Sensex up 0.54% at 80,936.4 as of 10:03 a.m. IST, extending the relief rally on tariff-cut hopes and sustained foreign inflows, Reuters.
Australian financial markets largely welcomed the historic center-left Labor Party win, seeing political stability bolster risk appetite across equities and bonds, Reuters.

Crypto Markets

Major Altcoin Unlocks

Ethena (ENA) is set for a significant token unlock on May 5, releasing 171.88 million ENA (3.10% of circulating supply), a supply shock that could pressure prices, CCN.com.

Top Cryptos to Watch

Analytics Insight recommends monitoring Qubetics ($TICS), Injective Protocol, and Render as the hottest gainers in May, driven by network upgrades and staking enthusiasm Analytics Insight.

Regulatory Moves

Kuwait launched a crackdown on cryptocurrency miners, accusing them of exacerbating a power crisis; authorities sold off electricity usage ahead of the summer peak, Reuters.

Commodities Markets

Oil

Brent crude fell $2.04 (3.33%) to $59.25 a barrel as OPEC+ agreed to speed up June output hikes by 411,000 bpd, marking a 44% rollback of prior cuts, Reuters.
Bloomberg reports oil’s early-week slump follows the OPEC+ decision to accelerate production increases, pressuring prices below technical support levels.

Gold

Spot gold climbed 0.5% to $3,256.85/oz and U.S. gold futures jumped 0.7% to $3,265.10, as traders await Fed insights and track U.S.-China trade developments, Reuters.

Economic Calendar & Events

The latest CBI Distributive Trades Survey showed UK retail sales volumes fell for the seventh consecutive month in April (balance at –8%), with a sharper decline of –33% expected in May, signaling muted consumer spending, CBI.
The Federal Open Market Committee meets May 6–7, with markets pricing in a hold at 4.25%–4.50% and looking for guidance on future rate cuts starting possibly in July