Silver (XAG/USD) attracts dip-buyers near the $31.90 region at the start of a new week and stalls its retracement slide from the highest level since October 30, around the $33.35-$33.40 area touched on Friday.
The US Dollar Index (DXY) edges higher after registering losses in the previous two consecutive sessions, trading around 106.90 during the European hours on Monday.
Nasdaq futures are nearing a pivotal technical price level—the all-time high (ATH) of 22,425.75—a key threshold attracting the attention of traders, algorithms, and institutional players.
The EUR/USD pair struggles to capitalize on its gains registered over the past four days and oscillates in a narrow trading band, just below the 1.0500 psychological mark during the Asian session on Monday.
Silver price (XAG/USD) recovers its recent losses registered in the previous session, trading near $32.40 per troy ounce during Monday's Asian session.
The Pound Sterling rallied for the second consecutive day on Friday, reclaiming the 1.2600 figure following a dismal US Retail Sales report that reflected American consumers cut their expenses.
Pound Sterling (GBP) is up modestly vs US Dollar (USD) on the session at writing after backing off slightly from the overnight peak just shy of 1.26—its highest level since the end of last year, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The Euro (EUR) is little changed on the day against the US Dollar (USD) but has racked up a solid net gain on the week, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The Canadian Dollar (CAD) is up only smalls on the day and is lagging most of its G10 peers in their recovery against the big dollar on the week but the push under 1.42 is quite impressive from my point of view, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The US Dollar (USD) is generally softer on the day and is ending the week with a sizeable loss that leaves the DXY trading at its lowest level since mid-December.
AUD/USD recently carved out a trough near the lower band of a multi-month channel at 0.6080 and has evolved within a base, Societe Generale's FX analysts report.
Provided that 7.2950 is not breached, there is a chance for US Dollar (USD) to drop below 7.2685 against CNH (Chinese Yuan). The next support at 7.2500 is unlikely to come into view.
The Dollar Index (DXY) failed to cross above January high of 110.15 in recent attempt and has gradually pulled back below the 50-DMA, Societe Generale's FX analysts report.
USD/JPY fell sharply as reciprocal tariff delay led to a turnaround in UST yields. The pair was last seen at 152.60 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
New Zealand Dollar (NZD) is likely to trade in a higher range of 0.5650/0.5700 against the US Dollar (USD). In the longer run, for the time being, NZD is likely to trade in a range between 0.5595 and 0.5720, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
As long as Australian Dollar (AUD) remains above 0.6270 vs US Dollar (USD), there is a chance for it to rise above 0.6330. The major resistance at 0.6355 is likely out of reach for now.
The US Dollar (USD) is a little weaker in Europe today on the back of slightly lower US interest rates, ongoing optimism about an end to the war in Ukraine, and a US reciprocal tariff package which was hard to decipher.
There appears to be enough momentum for Pound Sterling (GBP) vs US Dollar (USD) to rise further, but any advance is likely part of a higher 1.2480/1.2600 range.
The components of yesterday's US January PPI release which read over to the core PCE deflator came in quite benign yesterday, ING’s FX analysts Chris Turner notes.
Euro (EUR) vs US Dollar (USD) continued to trade higher on news that reciprocal tariffs does not comes into effect immediately but sometime in 1 Apr. The 6weeks+ push suggests that Trump may want to leverage on the threats to open up negotiations with some trade partners.
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