EUR/USD
The EUR/USD pair continues its downward trend, which started on January 27, trading around 1.0230 during the Asian session on Monday. A closer examination of the daily chart indicates that the bearish momentum is likely to persist, with the pair confined within a descending channel pattern.
GBP/USD
GBP/USD continues its decline for the fifth consecutive session, hovering around 1.2270 during Monday’s Asian trading hours. The pair has weakened by around 1% as the US Dollar Index gains strength following US President Donald Trump’s tariff threats against China, Canada, and Mexico.
USD/JPY
The Japanese Yen (JPY) sticks to intraday losses against its American counterpart through the Asian session on Monday, though it lacks follow-through amid the prospects for further tightening by the Bank of Japan (BoJ). The expectations were reaffirmed by a rise in Tokyo’s core inflation by the fastest annual pace in nearly a year and the BoJ Summary of Opinions, which showed that policymakers discussed the likelihood of raising interest rates further.
AUD/USD
The Australian Dollar (AUD) extends its losing streak against the US Dollar (USD) for the sixth consecutive session on Monday. The AUD/USD pair dropped around 2% amid risk-off sentiment following US President Donald Trump’s decision to impose import tariffs on China, one of Australia’s key trading partners.
NZD/USD
The NZD/USD pair faces some selling pressure to near 0.5545 during the Asian trading hours on Monday. The New Zealand Dollar (NZD) weakens as trade tensions mount after the US tariff announcement by US President Donald Trump and China’s Caixin Manufacturing PMI came in weaker than expected in January.
USD/CAD
The USD/CAD pair builds on last week’s breakout momentum above a short-term trading range and gains strong positive traction during the Asian session on Monday. The momentum lifts spot prices to mid-1.4700s, or the highest level since April 2003, and is sponsored by the launch of US President Donald Trump’s tariff trade war.
USD/CHF
The USD/CHF pair trades with mild gains to near 0.9100 during the early European session on Monday. The hawkish hold from the US Federal Reserve (Fed) provides some support to the US Dollar (USD).
CRUDE OIL
Oil prices jumped on Monday after U.S. President Donald Trump imposed tariffs on Canada, Mexico and China, raising fears of crude supply disruption from the two biggest suppliers to the U.S., but the prospect of lower fuel demand capped gains.
Gold price is falling back below $2,800 early Monday, extending its correction from record highs of $2,817 set on Friday. Despite, the latest leg down in Gold price, buyers remain hopeful as global trade war fears intensify.
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