GBP/USD opened the new week on the soft side, dipping to a session low near 1.3380, but staged a strong recovery through Monday's session to close around 1.3510, up 0.35% on the day.
Silver (XAG/USD) recovers some ground on Monday yet is poised to finish the day with losses of 0.33% after gapping down over the weekend due to news painting a gloomy outlook for the US-Iran conflict. At the time of writing, XAG/USD trades at $75.58 after bouncing off daily lows of $72.61.
USD/JPY traded in a wide intraday range on Monday, briefly spiking to a session high near 159.86 before pulling back steadily to settle around 159.35, roughly flat on the day.
The NZD/USD pair is pushing higher on Monday, April 13, climbing back toward the 0.5880 region as broad US Dollar (USD) weakness becomes the dominant market driver.
EUR/USD extended its gains on Monday as market mood improved, weighing on the US Dollar, which fell to six-week lows near 98.36 according to the US Dollar Index (DXY). At the time of writing, the pair trades at 1.1757, up 0.32%.
HSBC Asset Management underlines that China’s technology sector remains a key equity theme despite shifting attention to Middle East tensions. The firm points to strong performance of the Shenzhen Chinext index, supported by advanced manufacturing, green energy and semiconductors.
USD/CAD slipped around 0.40% on Monday, falling to session lows near 1.3790 as the Canadian Dollar (CAD) gained ground on surging Crude Oil prices and broad US Dollar (USD) softness.
OCBC strategists Sim Moh Siong and Christopher Wong expect Asian FX, especially high-beta Oil importers like KRW, THB, PHP and INR, to open weaker as renewed geopolitical uncertainty supports crude and the Dollar. However, resumed Hormuz transit tempers tail risks.
DBS Group Research economist Philip Wee expect the Monetary Authority of Singapore (MAS) to reverse its earlier easing by normalizing the SGD Nominal Effective Exchange Rate (NEER) policy band.
Gold (XAU/USD) price retreats as the week begins, down some 0.20% on Monday as Crude Oil prices trend up, increasing fears of an inflation spiral that might deter central banks, including the Federal Reserve (Fed), from lowering borrowing costs.
The US Dollar Index (DXY) fell on Monday, as markets digest headlines of failed Iran-United States (US) peace talks over the weekend and reports that US President Donald Trump moved the US Navy to close the Strait of Hormuz, a development that would typically fuel a strong safe-haven bid for the Gre
US President Donald Trump spoke at a press conference at the Oval Office and praised Vice-President JD Vance's work on Iran, saying that he “has done a very good job on Iran.”
