EUR/USD
EUR/USD retraces its recent losses from the previous session, trading around 1.0880 during Asian hours on Monday. The pair’s upside can be attributed to a softer US Dollar (USD) after the release of weaker-than-expected US October Nonfarm Payrolls (NFP) data. However, uncertainty surrounding the US presidential election could drive safe-haven flows, potentially limiting the upside of the EUR/USD pair.
GBP/USD
The GBP/USD pair jumps to near 1.2970 on the softer Greenback during the Asian trading hours on Monday. The US Dollar (USD) remains under some selling pressure after the weaker US Nonfarm Payrolls (NFP) data for October, which provides some support to the major pair.
USD/JPY
USD/JPY remains heavy below 152.00 in Asian trading on Monday, as the US Dollar sees a steep sell-off on the rising odds of Kamala Harris winning the US presidential election due on Tuesday. The policy continuity is seen as USD-negative, dragging the pair alongside.
AUD/USD
AUD/USD holds sizeable gains near 0.6600 in the Asian session on Monday. The uncertainty over the US presidential election weighs heavily on the US Dollar, as the Democratic nominee Kamala Harris is seen leading the race. Aussie buyers, however, stay cautious, bracing for a pivotal week.
NZD/USD
NZD/USD remains stable for the third consecutive session, trading around 0.5980 during the Asian hours on Monday. The New Zealand Dollar (NZD) may have gained some support from an unexpected increase in China’s factory activity, as China is New Zealand’s largest trading partner.
USD/CAD
USD/CAD offers gains from the previous two days, trading around 1.3900 during the Asian hours on Monday. The commodity-linked Canadian Dollar (CAD) receives support from the higher Oil prices, which could be attributed to the delay in a planned output increase by the OPEC+ coalition, which includes the Organization of the Petroleum Exporting Countries and its allies, such as Russia.
USD/CHF
The USD/CHF pair strives to break above the key resistance of 0.8700 in Friday’s European session. The pair strengthens as the Swiss Franc (CHF) weakens after the release of the Swiss Consumer Price Index (CPI) data, which showed that price pressures soften further in October.
CRUDE OIL
Oil prices extended gains on Monday, rising more than $1 on a decision by OPEC+ to delay by a month plans to increase output, while the market braced for a week that spans a U.S. presidential election and a key meeting in China.
GOLD
Gold price is attempting a tepid bounce toward $2,750 early Monday, as sellers take a breather amid a general market cautiousness ahead of the US election and the Federal Reserve policy announcements due later this week.
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