The AUD/USD pair is down 0.3% around 0.6850 during the Asian trade at the start of the week. The Aussie pair faces selling pressure as risk-off impulse, driven by fears of escalating conflicts in the Middle East, is acting as a key drag on the Australian Dollar (AUD).
EUR/JPY depreciates after registering small gains in the previous trading day, hovering around 184.00 during the Asian hours on Monday. The currency cross weakens as the Japanese Yen (JPY) firms following remarks from the Bank of Japan (BoJ) Governor Kazuo Ueda.
The EUR/USD pair recovers a few pips after retesting a one-week low earlier this Monday and holds steady around the 1.1500 psychological mark during the Asian session.
The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades marginally lower near 100.15 in the Asian trading session on Monday after retracing from its intraday high of 100.35. Still, the USD Index is close to its two-week high.
S&P 500 futures fall around 0.6% to 6,370, seven-month lows, during Asian trading hours, ahead of the US regular session open on Monday. US equity futures remain under pressure as risk aversion rises, with uncertainty over a resolution to the Iran conflict deepening.
The GBP/JPY cross turns lower for the third straight day following a modest Asian session uptick to the 213.00 neighborhood on Monday and drops to a one-week low in the last hour.
The Japanese Yen (JPY) trades higher against its major currency peers during the Asian trading session on Monday, snapping a four-day losing streak against the US Dollar (USD), trading 0.2% down to near 160.00.
On Monday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.9223 compared to Friday's fix of 6.9141.
The USD/CHF pair attracts fresh buyers following a modest Asian session dip to the 0.7970 area and touches a fresh high since January 19 at the start of a new week.
NZD/USD extends its losing streak for the fifth successive day, trading around 0.5730 during the Asian hours on Monday. The pair depreciates as risk aversion intensifies amid fears of a potential United States (US) ground invasion in Iran.
Silver (XAG/USD) attracts fresh sellers during the Asian session on Monday and slides to the lower end of a familiar trading range held over the past week or so. The white metal is currently placed above the $68.00 mark, down nearly 2.0% for the day, and seems vulnerable to slide further.
Gold price (XAU/USD) opens over 1% lower to near $4,445.00 on Monday, as oil prices have rallied further on fears of further widening of conflicts in the Middle East. WTI Oil price is up almost 3% above $102.50 in the opening trade, increasing fears of higher inflation expectations globally.
