Forex news for Asian trading on Monday, February 17, 2025

Tertiary Industry Activity Index improved

Gold prices rose in India on Monday, according to data compiled by FXStreet.

Gold price (XAU/USD) attracts some dip-buying at the start of a new week and reverses a part of Friday's retracement slide from the vicinity of the all-time peak.

The AUD/JPY cross attracts some sellers to near 96.55 during the Asian trading hours on Monday.

EUR/JPY gives up gains from the previous session, trading around 159.10 during the Asian hours on Monday.

Xi spoke at the event - not a lot of detail around

Silver price (XAG/USD) recovers its recent losses registered in the previous session, trading near $32.40 per troy ounce during Monday's Asian session.

The NZD/USD pair attracts buyers for the third successive day on Monday and climbs to a two-month peak, around the 0.5750 area during the Asian session amid the prevalent US Dollar (USD) selling bias.

West Texas Intermediate (WTI) Oil price rebounds from losses in the previous session, trading around $70.60 per barrel during Monday’s Asian hours.

Japanese Chief Cabinet Secretary Yoshimasa Hayashi noted on Monday that “Japan faces significant challenges if its companies become targets amid US President Donald Trump's policies; the government will respond carefully to potential impacts.” Additional quotes Exports, particularly in services, demonstrated growth, counterbalancing the decline in domestic demand, while the year's value rose by 2.9% year-on-year, exceeding 609.3 trillion yen for the first time.

The Japanese Yen (JPY) strengthened across the board following the release of a strong Gross Domestic Product (GDP) report, which showed that Japan’s economic growth blew past expectations in the fourth quarter.

Otherwise bullish on Japan's economy

The Indian Rupee (INR) weakens on Monday, snapping the two-day winning streak.

Speaking at the AlUla Conference for Emerging Market Economies in Saudi Arabia on Sunday, People's Bank of China (PBOC) Governor Pan Gongsheng said that the central bank “will continue to let the market play a decisive role in deciding the Yuan exchange rate.” Additional quotes Emphasized that a stable yuan is crucial for global financial and economic stability.

JPY jumped on strong GDP data

Kevin Hassett, Director of the US National Economic Council (NEC), revealed in an interview with CBS' Face The Nation early Monday he is having regular meetings with Federal Reserve (Fed) Chairman Jerome Powell.

The Australian Dollar (AUD) continues its upward momentum against the US Dollar (USD) for the third straight day on Monday, supported by US President Donald Trump's decision to delay the implementation of reciprocal tariffs.

Axe falling ...

On Monday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1702 as compared to Friday's fix of 7.1706 and 7.2617 Reuters estimates.

Yen crosses and USD/JPY are losing further ground

The GBP/USD pair trades with mild gains near 1.2585 during the early Asian session on Monday.

NODX -2.1% y/y in January 2025

The USD/CAD pair kicks off the new week on a positive note and reverses a major part of Friday's slide to mid-1.4100s, or its lowest level since December 12.

EUR/USD halts its four-day winning streak, hovering around 1.0490 during Asian trading hours.

Reports in US media

Gold price (XAU/USD) edges lower to near $2,880 due to profit-taking during the early Asian session on Monday.

GDP smashed higher than expectations

Strong Japanese economic growth and above target inflation

At a commercial poultry farm in Northern Ireland

Via a JP Morgan note

Presidents' Day holidays for bonds, NYSE/NASDAQ, CME included

The AUD/USD pair weakens to near 0.6345 during the early Asian session on Monday.

February survey re FX and interest rate sentiment from Bank of America

Russian media reporting

BNZ – BusinessNZ Performance of Services Index (PSI)

Japanese Q4 GDP is expected to show an impact from wage growth

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Says Putin wants it to end soon

Good morning, afternoon or evening to all ForexLive traders and welcome to the start of the new FX week.