EUR/USD
EUR/USD is attempting to stabilise after a four‑session pullback from the 1.1787 area to one‑month lows just above 1.1600,with the euro remaining under pressure against a firmer dollar amid renewed Middle East tensions and risk‑averse conditions.
GBP/USD
The British pound traded lower against the US dollar, dropping over 2% this previous week as leadership uncertainty and rate hike expectations weighed in. As of writing, the GBP/USD had exited a key level around 1.3400 and has exposed lower price levels.
USD/JPY
The USD/JPY pair scales higher for the sixth consecutive day – also marking the seventh day of a positive move in the previous eight – and climbs to a two-and-a-half-week high during the Asian session on Monday. Spot prices now look to build on the momentum above the 159.00 mark and remain well supported by a broadly firmer US Dollar (USD).
AUD/USD
AUD/USD inches lower after registering modest gains in the previous day, trading around 0.7250 during the Asian hours on Thursday. The technical analysis of the daily chart indicates that the pair is remaining within the ascending channel, suggesting an ongoing bullish bias.
NZD/USD
The New Zealand Dollar (NZD) accelerates its reversal against a stronger US Dollar (USD) on Friday. The pair trades at two-week lows right above 0.5840 at the time of writing, on track to a more than 2% weekly selloff, crushed by a risk-off sentiment amid the stalemate in the US-Iran conflict and higher Oil prices, as Brent crude reaches prices near $110.00.
USD/CAD
The USD/CAD pair edges higher to around 1.3750 during the early European trading hours on Monday. The US Dollar (USD) extends its upside against the Canadian Dollar (CAD) as traders have largely priced out US interest rate cuts this year, while expectations for a hike have risen.
USD/CHF
The USD/CHF pair prolongs its weekly uptrend for the fifth consecutive day on Friday and touches over a two-week high, near the 0.7860-0.7865 region during the early European session amid a broadly firmer US Dollar (USD). Moreover, the broader setup favors bullish traders and suggests that the path of least resistance for spot prices is to the upside.
CRUDE OIL
Oil prices extended gains on Monday as efforts to end the Iran war appeared to have stalled, after a nuclear power plant in the United Arab Emirates came under attack and as U.S. President Donald Trump is expected to discuss military options on Iran.
Gold (XAU/USD) struggles to capitalize on a modest recovery from its lowest level since March 30, touched earlier this Monday, albeit it holds steady below the $4,550 level through the early European session. The US Dollar (USD) buying remains unabated in the wake of persistent geopolitical uncertainties. Furthermore, rising Crude Oil prices fuel inflationary concerns and bolster bets for a more hawkish US Federal Reserve (Fed), which lends additional support to the USD and contributes to keeping a lid on the non-yielding bullion.
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.
