Trading news

The Indian Rupee (INR) extends its downfall against the US Dollar (USD) at the start of the holiday-shortened week. Indian markets will remain closed on Thursday due to Shri Ram Navami.

EUR/GBP pares its daily losses and is hovering around 0.8670 during the Asian hours on Monday. The currency cross opened at a gap down as the Euro (EUR) faces struggles amid increased safe-haven demand due to increasing Middle East tensions.

The EUR/USD pair is down 0.2% to near 1.1545 during the late Asian trading session on Monday. The major currency pair is under pressure as the US Dollar (USD) gains amid an increase in demand for safe-haven assets due to escalating conflicts in the Middle East.

Singapore Consumer Price Index (YoY) down to 1.2 in February from previous 1.4

The USD/CHF pair gathers strength to near 0.7890 during the early European session on Monday. A hawkish hold from the US Federal Reserve (Fed) provides some support to the US Dollar (USD) against the Swiss Franc (CHF). Traders will closely monitor the situation in the Middle East. 

The GBP/JPY cross attracts some dip-buyers near the 211.85 region during the Asian session on Monday, though it lacks follow-through and remains confined in a range held over the past week or so.

Gold prices fell in India on Monday, according to data compiled by FXStreet.

Silver price (XAG/USD) extends its losing streak for the fifth successive session, trading around $65.60 per troy ounce during the Asian hours on Monday.

The NZD/USD pair attracts sellers for the second straight day and slides back closer to the 0.5800 mark during the Asian session on Monday. Moreover, the broader fundamental backdrop and technical setup suggest that the path of least resistance for spot prices remains to the downside.

The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 99.65 during the early European trading hours on Monday.

Gold (XAU/USD) adds to its recent heavy losses registered over the past three weeks or so and attracts some follow-through selling for the fourth consecutive day on Monday.

USD/CAD continues to lose ground for the second successive session, trading around 1.3710 during the Asian hours on Monday.

Stock markets in the Asian region have fallen like a house of cards at the start of the week as escalating conflicts in the Middle East, following United States (US) President Donald Trump’s ultimatum to Iran for reopening the Strait of Hormuz has further prompted energy supply concerns.

The Israel Defense Forces (IDF), the nation’s military, said in a social media post on Monday that it has begun a wide-scale wave of “extensive strikes” targeting Iranian infrastructure in Tehran.

West Texas Intermediate (WTI) crude eases from intraday highs but remains elevated near $98.10 per barrel during Monday’s Asian session, supported by persistent Middle East supply concerns.

Saudi Aramco, the world's top oil exporter, cut crude supply to Asian buyers for a second month ‌in April after the US-Israeli war with Iran disrupted trade via the Strait of Hormuz, Reuters reported on Monday.

The USD/JPY pair attracts some follow-through buying for the second straight day and climbs to mid-159.00s during the Asian session on Monday. Spot prices remain close to the highest level since July 2024, touched last week, though intervention fears might cap further gains.

The GBP/USD pair holds losses near 1.3335 during the Asian trading hours on Monday, pressured by a stronger US Dollar (USD). Escalating conflict in the Middle East pushed Brent crude oil prices above $100 per barrel.

EUR/CAD rebounds after opening with a gap lower, trading near 1.5830 during the Asian session on Monday.

The International Energy Agency (IEA) Chief Fatih Birol said on Monday that he is discussing with governments across globe, if necessary there will be more releases of oil stocks.