EUR/USD
EUR/USD consolidates its recovery gains below 1.1400 in early Europe on Monday. Upbeat risk sentiment on Trump’s tairff concession news fails to lift the US Dollar, supporting the pair. US-China trade headlines will continue to dominate ahead of Fedspeak.
GBP/USD
GBP/USD preserves its bullish momentum and regains the 1.3100 mark in the European morning on Monday. The sustained US Dollar weakness suggests that the path of least resistance for the pair remains to the upside. US-China trade updates remain in focus.
USD/JPY
The Japanese Yen (JPY) trims a part of strong Asian session gains, though it remains within striking distance of the highest level since late September 2024 touched against a broadly weaker US Dollar (USD) last Friday. Persistent worries about the escalating US-China trade war and its impact on the global economy turn out to be a key factor driving flows towards the safe-haven JPY. Adding to this hopes that Japan might strike a trade deal with the US offer additional support to the JPY.
AUD/USD
The Australian Dollar (AUD) extends its gains against the US Dollar (USD) on Monday, supported by improved risk sentiment. The AUD/USD pair rose after US President Donald Trump announced less severe tariffs late Sunday on Chinese imports, including semiconductors and electronics. Clarifying earlier speculation about exemptions, Trump confirmed these goods would remain subject to the existing 20% tariffs related to fentanyl rather than the previously suggested 145% duties.
NZD/USD
The NZD/USD pair continues its upward momentum for the fourth consecutive session, trading around 0.5840 during the Asian session on Monday. The New Zealand Dollar (NZD) gains traction as the US Dollar (USD) weakens following US President Donald Trump’s announcement late Sunday of less aggressive tariffs on Chinese imports, including semiconductors and electronics. Trump clarified that these items will remain subject to the existing 20% fentanyl-related tariffs rather than the initially rumored 145%.
USD/CAD
USD/CAD continues its losing streak for the fourth straight session, hovering around 1.3860 during Monday’s Asian trading hours. The decline is driven by a weakening US Dollar (USD), pressured by investor concerns over a potential recession and persistent inflation, prompting a shift away from United States’ (US) assets.
USD/CHF
The USD/CHF pair edges higher in early Asian trading on Monday, hovering around the 0.8170 mark after recording losses in the past two consecutive sessions. Market participants are eyeing the release of Switzerland’s Producer and Import Prices for March, due later in the day.
CRUDE OIL
Oil prices fell slightly in Asian trade on Monday as traders digested mixed signals on U.S. tariffs and a trade conflict with China, although forecasts of weaker demand and softer prices still weighed.
Gold price trades with a mild negative bias just below a fresh all-time peak touched during the Asian session on Monday as bulls pause for a breather amid slightly overbought conditions on the daily chart. Furthermore, a further recovery in the global risk sentiment contributes to capping the upside for the commodity.
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