EUR/USD
The EUR/USD pair is down 0.2% to near 1.1545 during the late Asian trading session on Monday. The major currency pair is under pressure as the US Dollar (USD) gains amid an increase in demand for safe-haven assets due to escalating conflicts in the Middle East.
GBP/USD
The GBP/USD pair holds losses near 1.3335 during the Asian trading hours on Monday, pressured by a stronger US Dollar (USD). Escalating conflict in the Middle East pushed Brent crude oil prices above $100 per barrel. This has triggered “stagflation” fears for the UK and weighed on the Cable against the USD.
USD/JPY
The USD/JPY pair attracts some follow-through buying for the second straight day and climbs to mid-159.00s during the Asian session on Monday. Spot prices remain close to the highest level since July 2024, touched last week, though intervention fears might cap further gains.
AUD/USD
The AUD/USD pair opened with a modest bearish gap on Monday and touched a one-week low during the Asian session, though it lacked follow-through selling. Spot prices currently trade around the 0.7000 psychological mark, down 0.25% for the day,
NZD/USD
The NZD/USD pair loses ground to near 0.5830 during the early Asian session on Monday. Heightened geopolitical tensions in the Middle East boost safe-haven currencies such as the US Dollar (USD) against the Kiwi.
USD/CAD
USD/CAD continues to lose ground for the second successive session, trading around 1.3710 during the Asian hours on Monday. The near-term bias holds mildly bullish as spot advances above the nine- and 50-day Exponential Moving Average (EMA), indicating an emerging upward correction within a broader range.
USD/CHF
The USD/CHF pair gathers strength to near 0.7890 during the early European session on Monday. A hawkish hold from the US Federal Reserve (Fed) provides some support to the US Dollar (USD) against the Swiss Franc (CHF). Traders will closely monitor the situation in the Middle East.
CRUDE OIL
Oil prices look set to rise further on Monday, having closed before the weekend at their highest in nearly four years, after U.S. and Iranian threats to target energy facilities, analysts said on Sunday.
Gold (XAU/USD) adds to its recent heavy losses registered over the past three weeks or so and attracts some follow-through selling for the fourth consecutive day on Monday. The commodity dives to a fresh year-to-date low, below the $4,300 mark heading into the European session. Moreover, hawkish stances from major central banks suggest that the path of least resistance for the non-yielding yellow metal remains to the downside.
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