USD/CAD trades around 1.3840 at the time of writing, virtually unchanged on Monday after briefly advancing earlier in the day.
Silver (XAG/USD) is trading practically flat, right above the $74.00 level at the time of writing, after having hit session lows at $72.61.
TD Securities strategists discuss Canadian by-elections in three federal ridings and notes that Prime Minister Carney’s Liberals are close to securing a majority in Parliament.
The (EUR) retreated from last week’s highs near 1.1740 against the US Dollar (USD) on Monday, but so far is holding well, a few pips shy of the 1.1700 level, after bouncing from session lows at the 1.1670 area during the early Asian session.
The US Dollar (USD) is giving away previous gains against the Swiss Franc (CHF), as the pair remains trapped within a roughly 70-pip range around 0.7900 on Monday, with upside attempts capped below the 0.7925-0.7930 area.
The Australian Dollar (AUD) bounced at session lows to 0.6990 against the safe-haven US Dollar (USD) on Monday to close a previous trading gap in the area of 0.7055.
Commerzbank’s Head of FX and Commodity Research Thu Lan Nguyen argues that, despite Iran’s Renminbi toll plans and geopolitical tensions, the US Dollar (USD) remains structurally dominant in trade and reserves.
The Pound Sterling (GBP) trades lower against its major currency peers, trading 0.25% lower to near 1.3425 against the US Dollar (USD) during the European trading session on Monday.
EUR/HUF falls sharply on Monday, with the Euro (EUR) weakening against the Hungarian Forint (HUF) as the cross slides to its lowest level since February 2022. The Forint strengthens across the board after a landslide election victory by opposition leader Péter Magyar boosts investor confidence.
The Indian Rupee (INR) falls sharply in the opening trade against the US Dollar (USD) at the start of the week.
Danske Research notes that Norway’s March core inflation remained at 3.0% year-on-year, slightly below consensus and in line with Norges Bank’s projection, while headline inflation printed at 3.6% year-on-year.
Brown Brothers Harriman’s (BBH) Elias Haddad notes that the US naval blockade of the Strait of Hormuz has pushed Brent Oil back above $100 and lifted the US Dollar (USD) as risk aversion returns.
