Gold price (XAU/USD) sticks to its bearish bias for the second successive day on Monday and trades just above the $3,265-3,260 pivotal support during the first half of the European session.
Silver price (XAG/USD) continues to lose ground for the second straight day, hovering around $32.80 per troy during Asian trading hours on Monday. The precious metal faces pressure as improving trade relations between the United States (US) and China diminish its safe-haven appeal.
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.
West Texas Intermediate (WTI) US Crude Oil prices struggle to capitalize on modest gains registered over the past two days and attract some sellers near the $63.55 area during the Asian session on Monday.
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.
The Japanese Yen (JPY) seesaws between tepid gains/minor losses at the start of a new week and remains close to a nearly two-week low touched against its American counterpart last Friday.
The Indian Rupee (INR) gathers strength on Monday. Foreign Portfolio Investors (FPIs) continue to buy Indian equities for the seventh consecutive day. This, in turn, could boost the local currency against the Greenback in the near term.
The People’s Bank of China ()PBOC) Deputy Governor said in a news conference that the “impact on China’s forex assets from volatility in US bond markets is limited.”
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.
Atsushi Mimura, Japan’s Vice Finance Minister for International Affairs and top foreign exchange official, said early Monday that it is “completely untrue about the media report that US Treasury Secretary Scott Bessent said a stronger Yen is preferable.”
On Monday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.2043 as compared to Friday's fix of 7.2066 and 7.2828 Reuters estimate.
EUR/USD continues to weaken for a second consecutive session, trading around 1.1360 during Asian hours on Monday. The pair is under pressure as the US Dollar (USD) strengthens amid signs of easing tensions between the US and China.
The GBP/USD pair kicks off the new week on a subdued note and oscillates in a narrow band around the 1.3300 round-figure mark during the Asian session.
The Gold price (XAU/USD) drifts lower to around $3,310 during the early Asian session on Monday. The precious metal retreats after hitting its record high last week amid signs that global trade tensions may be easing.
US Agriculture Secretary Brooke Rollins said on Sunday that the Trump administration is having daily conversations with China over tariffs, per Reuters. Rollins noted that there were ongoing talks between the two nations and that trade deals with other nations were “very close.”
China will hold a press conference about policies and measures on stabilizing employment, ensuring stable growth, and promoting high-quality development on Monday, per Bloomberg.
US President Donald Trump urged Russia on Sunday to stop its attacks in Ukraine, while his top diplomat said the US might walk away from peace efforts if it does not see progress, per Reuters.
The AUD/USD pair trades in negative territory near 0.6390 during the early Asian session on Monday. The US Dollar (USD) edges higher against the Aussie amid signs of easing US-China tensions.
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