Most Asian equity indexes are trading lower on Monday, as this weekend’s peace talks between the US and Iran ended without agreement, and US President Donald Trump affirmed that the US military will enforce a blockade in the Strait of Hormuz.
Commerzbank’s Thu Lan Nguyen notes that negotiations between the United States and Iran have failed while Washington threatens a blockade of the Strait of Hormuz, risking a sharper global shortage of Oil and gas.
Silver price (XAG/USD) claws back half of its early losses and rebounds to near $74.35 during the early European trading session on Monday, but is still almost 2% down.
EUR/CAD holds position after paring its intraday losses, trading around 1.6200 during the Asian hours on Monday. However, the currency cross still remains in the negative territory as the Euro (EUR) struggles amid increased risk aversion after the failure of the United States (US)-Iran peace talks.
The GBP/USD pair opens with a bearish gap at the start of a new week and, for now, seems to have snapped a five-day winning streak to its highest level since late February, around the 1.3485 region set last week.
United States (US) President Donald Trump confirms, through a post on Truth.Social, the blockade on ships entering to and exiting from Iranian ports will officially begin today, April 13, at 10:00 AM ET (14:00 GMT).
AUD/JPY pares its daily losses but remains in the negative territory, trading around 112.40 during the Asian hours on Monday.
The USD/CAD pair retreats a few pips from the Asian session high and currently trades around the 1.3860-1.3855 region, up around 0.15% for the day.
In a parliamentary election in Hungary on Sunday, Péter Magyar, leader of the nation’s center-right opposition Tisza party, defeated veteran incumbent Prime Minister Viktor Orbán in a landslide victory.
Gold prices fell in India on Monday, according to data compiled by FXStreet.
West Texas Intermediate (WTI), futures on NYMEX, trade 7.6% higher to near $98.00 during the Asian trading session on Monday.
EUR/USD edges higher after opening at a gap down, trading around 1.1690 during the Asian hours on Monday. The daily chart technical analysis indicates a bullish bias, as the pair is rising within an ascending channel.
