TOGETHER WITH
Hey traders, Ezekiel here with your latest market insights. Here’s what you need to know to stay ahead in today’s trading landscape.
- Today's market mayhem. S&P, EUR/USD, Bitcoin, and XAU/USD today
- USD gets wrecked, Asia's FX says “Hold my bubble tea” 🧋
- Crude reality check: OPEC+ hits the gas (literally)
- Predict market reversals with 5 powerful Double Bottom entry strategies
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WEEKLY MARKET MAYHEM
For this week's market mayhem, here’s what we got for you today:
🌀 The Dollar’s in Trouble, and Asia’s Currencies Are Going Wild 🌀
It’s not often we say this, but… Asian currencies just turned into the main character. 💅
The US dollar has been slipping lately, and Asia’s FX markets are loving it. Monday saw a full-on currency glow-up across the region:
- Taiwan’s dollar surged so hard it hasn’t moved like that since 1988, yes, the year of shoulder pads and VHS tapes.
- The offshore yuan hit a near 6-month high as exporters cashed in those USD earnings.
- Indonesia’s rupiah pulled off a comeback story, clawing back nearly all its 2024 losses.
- And the Hong Kong dollar? Living on the edge, literally, at the strong end of its trading band for the second straight day.
But not everyone's celebrating. Exporters are sweating bullets 🫠, stocks are wobbling, and central banks are dusting off their FX toolkits to keep things from spinning out of control.
📉 So… Why’s This Happening?
Two words: Dollar weakness.
Traders are fleeing USD faster than Elon ditches social media platforms, worried that US economic growth might be slowing thanks to trade drama and inflation fears.
Meanwhile, Asian currencies are getting propped up by two big forces:
- Exporters repatriating dollars, basically bringing money home,
- Investors jumping into Asian markets as a “Plan B” while they ghost American assets 🇺🇸👻
Even as the US and China play nice-ish on tariffs, the trend is clear: “Sell America” is still the vibe.
US Dollar Index Daily Chart as of May 5th, 2025 (Source: TradingView)
⚠️ Side Effects of a Stronger Asia FX
Good news: Strong currencies = cheaper imports and potentially more foreign investment. 💰
Bad news: Exporters are getting wrecked, their goods are now pricier on the global stage.
Example: Taiwan’s currency shot up ~5% in just one day, that kind of move?
📞 Big enough to trigger emergency calls from the central bank, asking exporters to cool it on the USD selling.
Cathay United Bank even put controls on its FX platform after being swamped with exchange requests, that’s not normal.
🔎 Who Else Is Riding the FX Rollercoaster?
- Malaysia’s ringgit climbed more than 1%,
- Singapore dollar joined the party too,
- China was on holiday, but expect action once markets reopen 🎉
And in Hong Kong, the central bank stepped in with a massive currency intervention to weaken the local dollar, we're talking billions in USD buying, the largest move on record. 👀
🤔 Asia Forex Mentor Insights
The current FX shakeup is showing just how fast global capital can pivot, and how exposed Asian economies are to shifts in US policy and dollar flows. While stronger local currencies can attract inflows and tame inflation, export-heavy nations like Taiwan and China may feel the pinch in competitiveness.
For traders, this is prime time to watch central bank activity, USD positioning, and how exporters behave. If the dollar keeps sliding, Asian FX might not be done with their world tour just yet.
Strap in, it’s getting interesting. 🤑
🛢️ Oil Prices Slid, and OPEC+ Might’ve Just Lit the Fuse 🛢️
Oil took a tumble this week, and the finger’s pointing straight at OPEC+ — who just said, “Let’s flood the market.”
Over the weekend, the cartel and its buddies agreed to pump out more supply, again, cranking up output by another 400,000+ barrels a day. That’s on top of a surprise boost last month, which already had oil markets wobbling like a drunk trader on margin.
Brent crude dropped over 4%, scraping near $58 a barrel before catching its breath. Traders are now sweating over a possible supply glut, especially with demand looking shakier than ever thanks to — you guessed it — the trade war.
🥊 OPEC’s New Game Plan? More Oil, Less Chill
This is a full-on 180. OPEC+ had been capping supply to support prices, but now it’s going full throttle. Why? A few reasons:
- Saudi and Russia want market share back after years of tight supply
- Overproducers like Iraq and Kazakhstan need a reality check
- And… maybe they're throwing a little shade at non-compliant members by opening the taps
There’s also talk of even more hikes coming, which could make prices even more volatile. Coordination inside the group? Let’s just say it’s looking less Avengers, more Real Housewives of Riyadh.
💸 Why It Matters
Crude is now hovering near 4-year lows, and this selloff isn’t just about oversupply. President Trump’s trade war has taken a blowtorch to investor confidence and global growth expectations — which means less travel, less trade, and yes, less oil demand.
Even the Fed might not be mad about falling energy prices, with rate-setting meetings on deck. Meanwhile, Trump’s planning a Middle East trip, hoping to sweet-talk producers into keeping oil cheap. That’s one way to curb inflation — or distract from the tariff mess at home.
CFDs on Brent Crude Oil 5-Year Chart as of May 5th, 2025 (Source: TradingView)
And let’s not forget, the geopolitical stew is getting spicy: Saudi Arabia’s cozying up to the US, while Washington negotiates with Iran — a wildcard that could reshape the entire oil chessboard.
🤔 Asia Forex Mentor Insights
This latest supply surge is more than a pricing issue, it’s a market psychology play. OPEC+ shifting gears sends a message that politics, not just fundamentals, are driving the energy game. For traders, that means increased volatility, less predictability, and more pressure on oil-linked currencies and commodity markets.
If this pace keeps up, oil might be the canary in the coal mine for broader global risk sentiment. Translation: Keep your eye on energy, it’s no longer just about gas prices.
MEMES OF THE DAY
Double top? More like double trouble. 😵💫🔁
Stronger signals, just not strong enough for my luck. 😩🕰️
