Bank of England (BoE) Monetary Policy Committee (MPC) member Megan Greene said during the European trading session on Monday that the central bank needs to wait to see how Middle East conflicts will flare before making any monetary policy adjustments.
Greece Industrial Production (YoY) rose from previous 1.8% to 8.3% in March
Gold (XAU/USD) struggles to capitalize on a modest bounce from a three-day low, touched earlier this Monday, and maintains its offered tone below the $4,700 mark through the first half of the European session.
Silver price (XAG/USD) gains ground for the fourth consecutive day, trading around $80.40 per troy ounce during the European hours on Monday.
The USD/JPY pair trades 0.25% higher to near 157.00 during the European trading session on Monday. The pair trades firmly as the Japanese Yen (JPY) underperforms across the board amid growing concerns over Japan’s economic outlook due to higher oil prices.
HSBC economists note that “risk-on” G10 currencies, including the Australian Dollar (AUD), have outperformed the US Dollar (USD) this quarter on improved risk sentiment linked to Middle East de-escalation hopes.
The EUR/JPY cross attracts fresh buyers following a bearish gap opening around the 183.80 region on Monday and extends the steady intraday ascent through the first half of the European session.
Rabobank’s Global Strategist Michael Every highlights United States (US) legislative moves on US Dollar (USD) stablecoins via the CLARITY and GENIUS Acts, stressing how reward structures could entrench Dollar-linked digital assets in global finance.
Crude Oil prices have opened the week in a bullish tone, following US President Donald Trump’s rejection of Iran’s latest peace proposal. The US benchmark West Texas Intermediate (WTI) has jumped by about $4, from Friday’s close around $91.75 to $95.70 at the time of writing.
Societe Generale analysts Michael Haigh, Ben Hoff and Jeremy Sellem argue that reopening the Strait of Hormuz will unleash a double Oil supply shock into an already tightening market.
EUR/CAD inches lower after three days of gains, trading around 1.6090 during the Asian hours on Monday. The currency cross struggles as the commodity-linked Canadian Dollar (CAD) gains ground amid higher oil prices, given Canada’s status as the largest crude exporter to the United States (US).
UOB’s Alvin Liew expects the Federal Reserve (Fed) to keep policy on hold for an extended period in 2026, with only one 25-basis-point cut pencilled in for 4Q26. The shift from earlier expectations of two cuts reflects persistent inflation pressures and delayed labour weakness.
