EUR/USD
EUR/USD stretches higher toward 1.0850 in European trading on Monday, snapping its three-day downtrend. US tariffs and economic concerns remain a drag on the US Dollar, allowing the pair to recover ground ahead of Eurozone and US PMI data. US-Russia talks on Ukraine peace deal also eyed.
GBP/USD
GBP/USD gains positive traction and nears 1.2950 in the Europan morning on Monday amid the emergence of fresh US Dollar weakness. The divergent Fed-BoE outlooks and the recent breakout above the 200-day SMA favor buyers. UK/US PMIs awaited ahead of BoE Governor Bailey’s speech.
USD/JPY
The Japanese Yen (JPY) attracts some sellers on the first day of a new week following the release of Japan’s weaker Purchasing Managers’ Index (PMI). Furthermore, reports that US President Donald Trump’s reciprocal tariffs would be narrower, and less strict than initially feared, boost investors’ confidence and turn out to be another factor undermining the safe-haven JPY. That said, the growing acceptance that the Bank of Japan (BoJ) will keep raising interest rates, amid hopes that strong wage growth could filter into broader inflation trends, limits deeper JPY losses.
AUD/USD
The Australian Dollar (AUD) strengthens against the US Dollar (USD) on Monday after two consecutive days of losses. The AUD/USD pair rises as the AUD finds support following the release of preliminary Judo Bank Purchasing Managers Index (PMI) data.
NZD/USD
The NZD/USD pair gathers strength to around 0.5745 during the early Asian session on Monday, bolstered by the weaker US Dollar (USD) and Chinese stimulus. Traders await the preliminary reading of the US S&P Global Manufacturing Purchasing Managers Index (PMI) for March, which is due later on Monday.
USD/CAD
The USD/CAD pair kicks off the new week on a softer note amid the emergence of some selling around the US Dollar (USD), though it lacks bearish conviction and has now reversed an Asian session dip to the 1.4325 region. Spot prices, however, remain confined in Friday’s broader range and currently trade just below mid-1.4300s, nearly unchanged for the day.
USD/CHF
USD/CHF extends its winning streak for the fourth consecutive session, trading near 0.8840 during Asian hours on Monday. The pair gains as the US Dollar (USD) recovers its daily losses, supported by rising Treasury yields amid a hawkish tone surrounding the Federal Reserve (Fed). Last week, Fed Chair Jerome Powell noted, “Labor market conditions are solid, and inflation has moved closer to our 2% longer-run goal, though it remains somewhat elevated.”
CRUDE OIL
Oil prices slipped in Asian trading on Monday as investors braced for fresh tariff announcements from U.S. President Donald Trump, and awaited the outcome of Russia-Ukraine peace talks.
Gold price attracts some sellers for the third successive day on Monday. A positive risk tone and a modest USD uptick undermine the commodity. Fed rate cut bets and geopolitical risks could support the XAU/USD pair.
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