EUR/USD
The EUR/USD pair faces some selling pressure to around 1.0530 amid the firmer US Dollar (USD) during the early Asian trading hours on Monday. Investors will closely monitor the speech by the European Central Bank’s (ECB) President Christine Lagarde and the release of the US ISM Manufacturing Purchasing Managers’ Index (PMI), which is due later on Monday.
GBP/USD
The GBP/USD pair attracts some sellers on the first day of a new week and reverses a major part of Friday’s positive move to mid-1.2700s, or a nearly three-week high. The intraday slide drags spot prices back below the 1.2700 mark in the last hour and is sponsored by a goodish pickup in the US Dollar (USD) demand.
USD/JPY
USD/JPY stages a goodish recovery from over a one-month low to test 150.50 in Monday Asian session. The pair rebounds amid a pickup in the USD demand. Trump’s tariff threats and geopolitical risks benefit the safe-haven US Dollar while the Japanese Yen struggles amid BoJ’s rate hike uncertainty.
AUD/USD
AUD/USD stays under pressure near 0.6500 in Asian trading on Monday. The pair remains weighed down by a flight to safety in the US Dollar amid US President-elect Trump’s fresh tariffs threat on BRICS, which offset better-than-expected Australian Retail Sales data and Chinese Caixin Manufacturing PMI.
NZD/USD
The NZD/USD pair trades on a softer note around 0.5895 on Monday during the Asian trading hours. The expectation of another rate cut by the Reserve Bank of New Zealand (RBNZ) in February 2025 and Trump tariff threats continue to undermine the pair. The US ISM Manufacturing Purchasing Managers’ Index (PMI) for November will be in the spotlight later on Monday.
USD/CAD
The USD/CAD pair regains strong positive traction at the start of a new week and climbs to the 1.4040 area during the Asian session, snapping a three-day losing streak amid a goodish pickup in the US Dollar (USD) demand.
USD/CHF
The USD/CHF pair loses ground to near 0.8815 during the early Asian session on Monday, weighed by the softer US Dollar (USD) broadly.
CRUDE OIL
Oil prices edged lower on Friday and posted a weekly decline of more than 3%, pressured by easing concern over supply risks from the Israel-Hezbollah conflict and the prospect of increased supply in 2025 even as OPEC+ is expected to extend output cuts.
Gold price is back in the red for the first time in five trading days early Monday, looking to extend the previous week’s decline. Resurgent demand for the US Dollar across the board as a safe-haven asset, trumping Gold price as a traditional safety bet at the start of the US Nonfarm Payrolls week.
Any information provided therein are indicative and subjective to the technical analysis method or trading patterns used and the timing of their release. Those are provided as general market information and/or market commentary and/or the publication of market/factual data and should not be construed as containing personal and/or other investment recommendation, and/or to be Investment Advice or independent Investment Research. As such, the legal and regulatory requirements in relation to independent investment research do not apply to this material and it is not subject to any prohibition on dealing ahead of its dissemination. For the full Risk Disclaimer click here.
