EUR/USD
EUR/USD may find support from improving risk sentiment amid a potential ceasefire discussion between Trump and Putin this week. The US Dollar remains steady as traders exercise caution before the upcoming Retail Sales data release.
GBP/USD
The GBP/USD pair extends its losing streak for the third successive session, trading around 1.2940 during the Asian hours on Monday.
USD/JPY
The Japanese Yen (JPY) remains on the defensive against its American counterpart heading into the European session, though the downside remains cushioned. The global risk sentiment gets a minor lift in reaction to fresh stimulus measures announced by China over the weekend, which, in turn, is seen undermining the safe-haven JPY. However, the growing acceptance that the Bank of Japan (BoJ) will hike interest rates further holds back the JPY bears from placing aggressive bets.
AUD/USD
The Australian Dollar (AUD) holds losses against the US Dollar (USD) after US President Donald Trump stated early Monday that he “will impose reciprocal and sectoral tariffs on April 2,” with no exemptions for steel and aluminum. Reciprocal tariffs on certain countries will be implemented alongside auto duties. Additionally, an announcement regarding Russia-Ukraine talks may come on Tuesday.
NZD/USD
NZD/USD continues its upward momentum for the second consecutive day, trading around 0.5760 during Asian hours on Monday. The pair strengthens following the release of China’s economic data, with Retail Sales increasing by 4.0% year-over-year in January-February, up from December’s 3.7% growth.
USD/CAD
The USD/CAD pair kicks off the new week on a subdued note and oscillates in a narrow band above mid-1.4300s, or the lower end of a one-week-old trading range, during the Asian session. Meanwhile, the fundamental backdrop suggests that the path of least resistance for spot prices is to the downside.
USD/CHF
The USD/CHF pair attracts some sellers to around 0.8845 during the early European session on Monday. US President Donald Trump’s unpredictable trade policy and a series of weak US economic data weigh on the US Dollar (USD) against the Swiss Franc (CHF). Later on Monday, the US February Retail Sales data will be published.
CRUDE OIL
Oil prices surged on Monday, U.S. stock futures slid while those in Asia charged higher as investors took stock of the contrasting fortunes between the United States and the rest of the world.
Gold price remains close to all-time peak as rising trade tensions underpin safe-haven demand. Bets that the Fed will cut rates several times in 2025 lend additional support to the XAU/USD. The USD hangs near a multi-month low and further underpins the commodity ahead of the Fed.
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