Trading news

The US Dollar (USD) has opened the week with a mild bearish tone against the  Canadian Dollar (CAD), with trading volumes at low levels as the Japanese markets are closed on bank holidays and with the US and Canada also celebrating festivities.

Danske Research Team reports that European and US equities ended Friday higher, with many indices near record levels, supported by broadly sideways yields and Oil prices.

Commerzbank strategists note that Brent Oil remains above USD 100 as markets weigh heightened geopolitical risk from Houthi attacks on Saudi infrastructure.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann report EUR/USD closed near 1.1200 after a volatile session that failed to generate fresh directional clues. For the day, they expect a 1.1180–1.1230 range. On a 1–3 week horizon, they retain a mildly negative stance, seeing a chance of a test of 1.1145 while capping rebounds below 1.1255 strong resistance.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $90.15 during the early European trading hours on Monday.

The Japanese Yen (JPY) trades almost flat at around 158.36 against the US Dollar (USD) at the start of the week. The USD/JPY pair has been in a tight range between 156.38 and 158.51 for almost two weeks.

USD/CHF gains ground after two days of losses, trading around 0.8310 during Asian hours on Monday. The currency pair is finding upward support as the Swiss Franc (CHF) remains under pressure from short positions.

The GBP/USD pair trades in positive territory around 1.3240 during the early European trading hours on Monday. The US Dollar (USD) softens against the British Pound (GBP) as markets continue to assess the US Federal Reserve (Fed) rate hike path.

The AUD/USD pair struggles to capitalize on a modest Asian session uptick, trading below the 0.7000 psychological mark and below a nearly two-week high, touched earlier this Monday.

The Euro (EUR) is marginally higher at around 1.1208 against the US Dollar (USD) during the Asian trading session on Monday. The major currency pair gets slight relief from the announcement of an energy ceasefire between Russia and Ukraine, which has put some pressure on oil prices.

Gold (XAU/USD) attracts some buyers for the third straight day, hitting an over one-week high during the Asian session on Monday, though it lacks follow-through.

Gold prices rose in India on Monday, according to data compiled by FXStreet.

The AUD/JPY cross trades in negative territory around 110.50 during the early European trading hours on Monday. The Japanese Yen (JPY) strengthens against the Australian Dollar (AUD), with trading activity expected to remain subdued due to a national holiday in Japan.

EUR/JPY gains ground for the third successive day, trading around 177.40 during Asian hours on Monday. Liquidity would be thin, although it is the best opportunity for 'Yentervention'.

The Indian Rupee (INR) opens significantly higher against the US Dollar (USD) on Monday. The USD/INR pair falls 1% to near 95.80 as Reserve Bank of India’s (RBI) fresh measures to curb US Dollar demand has brought relief for the Indian currency.

The International Monetary Fund (IMF) Managing Director  Kristalina Georgieva said on Monday that she’s already seeing first wave of impact from AI.

Silver price (XAG/USD) trades higher at around $61.10 in the Asian trade on Monday, holding onto Friday’s gains.

NZD/USD remains subdued for the second successive day, trading around 0.5610 during Asian hours on Monday.

The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, attracts fresh sellers at the start of a new week, sliding back closer to the 102.00 mark during the Asian session.

India unveiled a new measures to boost the Indian Rupee (INR), redirecting oil companies' US Dollar purchases ‌away from the spot market and tightening hedging rules, Reuters reported on Saturday. The move comes as the domestic currency trades near record lows.