EUR/USD
The EUR/USD pair gains ground to around 1.1625, snapping the four-day losing streak during the early European session on Monday. The US Dollar (USD) faces some selling pressure against the Euro (EUR) after U.S President Donald Trump threatened escalating tariffs on eight European nations that have opposed his plan to take Greenland. US markets are closed on Monday as the country observes Martin Luther King Jr. Day.
GBP/USD
The GBP/USD pair gains traction to around 1.3400 during the early Asian session on Monday. The US Dollar (USD) weakens against the Pound Sterling (GBP) amid US President Donald Trump’s latest tariff threats against Europe over Greenland. The US markets are closed in observance of the Martin Luther King Jr. Day holiday on Monday.
USD/JPY
The USD/JPY pair attracts some sellers to near 157.80 during the early Asian session on Monday. The Japanese Yen (JPY) edges higher against the US Dollar (USD) amid intervention fear from Japanese officials. The US markets are closed in observance of the Martin Luther King Jr. Day holiday on Monday.
AUD/USD
The Australian Dollar (AUD) trades on the back foot against the US Dollar (USD) on Friday, as resilient US economic data and hawkish-leaning Federal Reserve (Fed) rhetoric keep the Greenback firmly supported. At the time of writing, AUD/USD trades around 0.6684, down about 0.20% on the day and poised to end the week with marginal losses.
NZD/USD
The NZD/USD pair attracts fresh buyers at the start of a new week and jumps to a four-day high, around the 0.5770 area, during the Asian session amid a broadly weaker US Dollar (USD). Spot prices react little to the Chinese macro data dump and remain confined in a familiar range held over the past week or so.
USD/CAD
USD/CAD halts its four-day winning streak, trading around 1.3900 during the Asian hour on Monday. The pair depreciates as the commodity-linked Canadian Dollar (CAD) receives support from higher Oil prices, given Canada’s status as the largest crude exporter to the United States (US).
USD/CHF
The USD/CHF pair is down 0.55% to near 0.7985 during the late Asian trading session on Monday. The Swiss pair faces intense selling pressure as tensions between the Eurozone and the United States (US) over Washington’s desire to purchase Greenland have weighed heavily on the US Dollar.
CRUDE OIL
Oil prices were up slightly on Monday, after the previous session’s rise, as Iran’s deadly crackdown on protests quelled civil unrest, narrowing chances for a U.S. attack on the major Middle Eastern producer that could disrupt supplies.
Gold (XAU/USD) sticks to intraday gains heading into the European session and currently trades just below the all-time peak, touched earlier this Monday amid a supportive fundamental backdrop. US President Donald Trump threatened to impose new tariffs on eight European countries that opposed his plan to acquire Greenland. The announcement drew sharp criticism from European officials and raised concerns about a broader transatlantic trade dispute. This, along with heightened geopolitical risk, triggers a fresh wave of the global risk-aversion trade, prompting investors to seek refuge in traditional safe-haven assets and underpinning the precious metal.
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