EUR/USD
EUR/USD is off the lows but remains in the red above 1.0300 in the European morning on Monday, pressured by a stronger US Dollar amid Trump’s fresh tariff threats. Traders await the Eurozone Sentix data and Lagarde’s speech for fresh trading incentives.
GBP/USD
GBP/USD stays on the back foot near 1.2400 in the early European session on Monday. The pair appears vulnerable amid modest US Dollar strength-induced by US President Trump’s latest tariff threats and mounting fears of a global trade war.
USD/JPY
The Japanese Yen (JPY) retains negative bias heading into the European session amid worries that would be an eventual target of US President Donald Trump’s trade tariffs. This, along with a modest US Dollar (USD) strength, assists the USD/JPY pair to stick to its intraday gains. That said, hawkish Bank of Japan (BoJ) expectations help limit deeper losses for the JPY and cap gains for the currency pair.
AUD/USD
The Australian Dollar (AUD) expereinces an upward technical correction against the US Dollar (USD) for the third consecutive day on Monday. However, the AUD/USD pair faced downward momentum after US President Donald Trump, speaking aboard Air Force One, announced plans to impose a 25% tariff on all steel and aluminum imports without specifying the affected countries.
NZD/USD
NZD/USD trims its recent losses, trading around 0.5660 during the early European hours on Monday. However, the pair could face challenges again amid escalating trade war concerns. US President Donald Trump told reporters aboard Air Force One that he plans to impose a 25% tariff on all steel and aluminum imports without specifying the affected countries.
USD/CAD
The USD/CAD pair breaks its four-day losing streak, trading around 1.4350 during the Asian session on Monday. This upside movement could be attributed to escalating trade tensions following recent remarks from US President Donald Trump.
USD/CHF
The USD/CHF pair gathers strength to around 0.9110 during the early European session on Monday. The US Federal Reserve (Fed) is expected to keep interest rates hold this year after the US January employment data, supporting the Greenback. Fed’s Chair Powell testifies will be the highlight on Tuesday. Later on Wednesday, US Consumer Price Index (CPI) inflation data will be in focus.
CRUDE OIL
Oil prices ticked higher on Monday even as investors weighed U.S. President Donald Trump’s latest tariff threat, this time on all steel and aluminium imports, which could dampen global economic growth and energy demand.
Gold price continues to attract safe-haven flows amid persistent worries about Trump’s trade tariffs, refreshing record high just shy of $2,900. Mounitng trade war and inflationary concerns prompt investors to run for cover in the tradtional store of value, Gold.
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