EUR/USD
EUR/USD is holding mild gains while below 1.0850 in early Europe on Monday. The pair draw support from a broadly weaker US Dollar but buyers stay cautious ahead of Germany’s prelim inflation data and Trump’s reciprocal tariff announcement.
GBP/USD
GBP/USD keeps the green near 1.2950 in the European morning on Monday. Concerns that US President Donald Trump’s tariffs will ignite inflation and dampen economic growth weigh on the US Dollar and act as a tailwind for the pair.
USD/JPY
The Japanese Yen (JPY) trims a part of intraday gains against a broadly weaker US Dollar (USD) and assists the USD/JPY pair to rebound around 40-45 pips from over a one-week low touched during the Asian session on Monday. The growing global risk aversion trade, amid concerns about US President Donald Trump’s so-called reciprocal tariffs on April 2 and geopolitical risks, turns out to be a key factor underpinning the safe-haven JPY.
AUD/USD
The Australian Dollar (AUD) trades weaker on Monday. Global trade concerns ahead of a planned announcement on Wednesday by US President Donald Trump on reciprocal tariffs continue to undermine the AUD.
NZD/USD
The NZD/USD pair edges lower to around 0.5705 during the Asian trading hours on Monday. The New Zealand Dollar (NZD) softens against the US Dollar (USD) as traders brace for the announcement of US President Donald Trump’s new tariff policy on Wednesday.
USD/CAD
The USD/CAD pair struggles to capitalize on its modest bounce from the monthly low touched last Wednesday and kicks off the new week on a subdued note amid mixed cues.
USD/CHF
The USD/CHF pair ticks higher to near 0.8830 in Monday’s North American session ahead of the United States (US) Personal Consumption Expenditure Price Index (PCE) data for February, which will be published at 12:30 GMT.
CRUDE OIL
Oil markets on Monday shrugged off U.S. President Donald Trump’s threat to hit buyers of Russian oil with tariffs as the shock value of the barrage of threats from the White House begins to wear thin with jaded traders.
Gold price attracts safe-haven flows for the third straight day amid rising trade tensions. Fed rate cut bets weigh on the USD and also lend support to the non-yielding yellow metal. Overbought conditions on the daily chart now warrant some caution for bullish traders.
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