EUR/USD
The EUR/USD pair trades on a flat note around 1.1360 during the Asian session on Monday. The Greenback steadies as traders are confused by mixed signals on US-China trade relations. Despite US President Donald Trump’s claims that there has been progress and that he has talked with China’s President Xi Jinping, Beijing has denied that trade negotiations are taking place, and US Treasury Secretary Scott Bessent did not announce on Sunday that tariff talks were underway.
GBP/USD
The GBP/USD pair steadies around 1.3320 during Asian trading hours on Monday, after posting losses in the previous session. Technical analysis on the daily chart suggests a weakening bullish trend, as the pair breaks below its ascending channel pattern.
USD/JPY
The Japanese Yen (JPY) attracts some buyers during the Asian session on Monday and for now, seems to have stalled a nearly one-week-old downtrend from a multi-month high touched against its American counterpart last week. Mixed signals from the US and China temper optimism over a quick resolution of the trade conflict between the world’s two largest economies, which, in turn, is seen driving some safe-haven flows towards the JPY. Apart from this, expectations that Japan will strike a trade deal with the US further underpin the JPY amid hopes for a US-Japan trade deal.
AUD/USD
The Australian Dollar (AUD) is extending losses for the second successive session on Monday. The AUD/USD pair is under pressure as the US Dollar (USD) strengthens amid signs of losses.
NZD/USD
The NZD/USD pair softens to around 0.5950 during the Asian trading hours on Monday, pressured by the renewed US Dollar (USD) demand. Signs that global trade tensions between the United States and China may be easing provide some support to the Greenback. Traders assess China’s press conference about policies and measures on Monday.
USD/CAD
USD/CAD is advancing for the second consecutive session, hovering around 1.3880 during Asian trading hours on Monday. The pair continues to strengthen as the US Dollar (USD) gains momentum, supported by signs of easing tensions between the US and China.
USD/CHF
USD/CHF is hovering around 0.8150 during the European trading hours on Monday.
CRUDE OIL
Oil prices inched up in early trade on Monday but remained dogged by uncertainty over trade talks between the U.S. and China clouding the outlook for global growth and fuel demand, while the prospect of OPEC+ raising supply cast more gloom.
Gold price maintains its offered tone through the Asian session on Monday and currently trades below the $3,300 round-figure mark, down 0.75% for the day. Despite mixed signals from the US and China, investors remain hopeful over the potential de-escalation of tensions between the world’s two largest economies.
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