EUR/USD
EUR/USD edges lower to near 1.0480 during the Asian session on Monday as the US Dollar Index (DXY), which measures the value of the US Dollar (USD) against its six major peers, recovers from its monthly low at 107.22, reached on Friday. The DXY trades near 107.60 at the time of writing.
GBP/USD
The GBP/USD pair kicks off the new week on a softer note and erodes a part of Friday’s strong gains to the 1.2500 psychological mark, or a near three-week peak. Spot prices currently trade around the 1.2460 region, down 0.20% for the day amid a modest US Dollar (USD) strength, though the downtick lacks any follow-through selling or bearish conviction.
USD/JPY
USD/JPY builds on recovery to test 156.00 in Monday’s Asian trading. US President Trump’s potential trade war risks with Columbia, Mexico and Caanda boost the haven demand for the US Dollar, outweighing the Japanese Yen’s appeal as a safety bet.
AUD/USD
AUD/USD holds losses below 0.6300, snapping the three-day winning streak in the Asian session on Monday. China’s fresh stimulus measures fail to boost the Chinese-proxy Australian Dollar amid weak NBS business PMIs and looming trade war risks under Trump 2.0.
NZD/USD
The NZD/USD pair remains under selling pressure near 0.5685 during the Asian trading hours on Monday. The New Zealand Dollar (NZD) weakens amid weaker Chinese economic data and uncertainty over US President Donald Trump’s tariff measures. Traders await the US Federal Reserve (Fed) interest rate decision scheduled for Wednesday.
USD/CAD
USD/CAD recovers its losses from the previous two sessions, trading around 1.4390 during the Asian hours on Monday. This upside of the pair is attributed to the growing momentum among US President Donald Trump’s advisers to place 25% tariffs on Mexico and Canada as soon as February 1.
USD/CHF
The USD/CHF pair remains on the defensive around 0.9045 during the early European session on Monday, pressured by the weaker US Dollar (USD) broadly.
CRUDE OIL
Oil prices slipped on Monday after U.S. President Trump called on OPEC to reduce prices following the announcement of wide-ranging measures to boost U.S. oil and gas output in his first week in office.
GOLD
Gold price kicks off the new week on a weaker note amid a modest USD recovery. Fed rate cut bets and sliding US bond yields might cap any further USD move up. Renewed trade war fears could help limit losses for the safe-haven XAU/USD pair.
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