EUR/USD
The EUR/USD pair is seen building on Friday’s goodish rebound from the 1.1765 region or a two-week low and gaining positive traction for the second straight day at the start of a new week. The move higher lifts spot prices to the 1.1830-1.1835 resistance zone, marking the top end of a one-week-old range, and is sponsored by some follow-through US Dollar (USD) selling.
GBP/USD
The GBP/USD pair trades on a softer note around 1.3605 during the early European session on Monday. Growing expectation of the Bank of England’s (BoE) interest-rate cut weighs on the Pound Sterling (GBP) against the Greenback.
USD/JPY
The USD/JPY pair attracts some buyers to around 157.45 during the early Asian session on Monday. The Japanese Yen (JPY) weakens against the US Dollar (USD) after Japan’s ruling Liberal Democratic Party (LDP) won an outright majority in Sunday’s lower house election, opening the door to more fiscal stimulus by Prime Minister Sanae Takaichi.
AUD/USD
AUD/USD extends its gains for the second successive session, trading around 0.7020 during the Asian hours on Monday. The pair appreciates as the commodity-linked Australian Dollar (AUD), often seen as a liquid barometer of global risk sentiment, gains ground amid easing concerns over AI-driven disruption and revived investor confidence.
NZD/USD
The NZD/USD pair trades in negative territory near 0.6015 during the Asian trading hours on Monday. The New Zealand Dollar (NZD) edges lower against the US Dollar (USD) as softer labor data pushes out expectations for the Reserve Bank of New Zealand (RBNZ) tightening.
USD/CAD
The USD/CAD pair posts modest gains around 1.3660 during the early European session on Monday. Traders weigh mixed Canadian January employment data. Key US labor market data will be the highlight later on Wednesday.
USD/CHF
The USD/CHF pair trades 0.22% lower to near 0.7765 during the late Asian trading session on Friday. The Swiss Franc pair is under pressure as the rally in the US Dollar (USD) has paused, following an increase in dovish Federal Reserve (Fed) expectations.
CRUDE OIL
Oil prices fell 1% on Monday as immediate fears of a conflict in the Middle East eased after the U.S. and Iran pledged to continue talks about Tehran’s nuclear programme over the weekend, calming investors anxious about supply disruptions.
Gold (XAU/USD) struggles to capitalize on its intraday move up and remains below the $5,100 mark heading into the European session on Monday amid mixed cues. Data released over the weekend showed that the People’s Bank of China (PBOC) extended its buying spree for a 15th month in January. Moreover, dovish US Federal Reserve (Fed) expectations and concerns about the central bank’s independence drag the US Dollar (USD) lower for the second straight day, providing an additional boost to the non-yielding yellow metal.
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