Trading news

USD/CAD recovers its recent losses from the previous session, trading around 1.4100 during the early European hours on Monday. The daily chart’s technical setup reflects a persistent bullish bias, with the pair remaining within its ascending channel pattern.

Switzerland Employment Level (QoQ) unchanged at 5.532M in 3Q

Here is what you need to know on Monday, November 24:

West Texas Intermediate (WTI) Oil price advances on Monday, early in the European session. WTI trades at $58.13 per barrel, up from Friday’s close at $57.90.Brent Oil Exchange Rate (Brent crude) is stable, hovering around its previous daily close at $61.90.

Germany’s IFO institute will publish its business survey for November on Monday at 09:00 GMT.

The EUR/GBP cross trades with mild gains near 0.8790 during the early European trading hours on Monday. A softer-than-expected UK Retail Sales report for October weighs on the Pound Sterling (GBP) against the Euro (EUR). Germany’s November IFO Business Survey data will be published later on Monday. 

The GBP/USD pair reverses a modest Asian session dip and climbs back above the 1.3100 mark in the last hour amid a modest US Dollar (USD) downtick on Monday.

EUR/CAD gains ground after registering losses in the previous session, trading around 1.6240 during the Asian hours on Monday. The pair appreciates as the Euro (EUR) receives support from the cautious sentiment surrounding the European Central Bank’s (ECB) monetary policy outlook.

The EUR/USD pair trades in positive territory around 1.1525 during the early European trading hours on Monday. The US Dollar (USD) edges lower against the Euro (EUR) as Federal Reserve (Fed) rate cut expectations rise.

Singapore Consumer Price Index (YoY) rose from previous 0.7 to 1.2 in October

Gold (XAU/USD) attracts fresh sellers during the Asian session on Monday and declines below the $4,050 level in the last hour, though it lacks follow-through.

USD/CHF continues its winning streak for seven successive sessions, trading around 0.8080 during the Asian hours on Monday.

The EUR/JPY cross gains traction near 180.40 during the Asian trading hours on Monday. The Japanese Yen (JPY) softens against the Euro (EUR) amid fiscal concerns and the Bank of Japan (BoJ) rate hike uncertainty. Nonetheless, intervention fears might cap the downside for the JPY.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is halting its five-day winning streak and trading around 100.20 during the Asian hours on Monday. Traders will likely observe the US September Producer Price Index (PPI) report due on Tuesday.

Silver (XAG/USD) struggles to capitalize on Friday's modest recovery from the $48.65-$48.60 region, or a nearly two-week low, and attracts fresh sellers on the first day of a new week.

USD/CAD remains subdued for the second successive session, trading around 1.4090 during the Asian hours on Monday. The pair depreciates as the US Dollar (USD) loses ground amid renewed expectations of a Fed rate cut in December.

The Japanese Yen (JPY) attracts fresh sellers at the start of a new week and erodes a part of Friday's modest recovery gains amid concerns about Japan's ailing fiscal position on the back of Prime Minister Sanae Takaichi’s pro-stimulus stance.

The Australian Dollar (AUD) edges lower against the US Dollar (USD) on Monday ahead of the looming key inflation update this week.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $57.85 during the Asian trading hours on Monday. The WTI edges lower as the United States (US) pushes for a Russia-Ukraine peace deal.

The NZD/USD pair loses ground to near 0.5605 during the early Asia session on Monday. The New Zealand Dollar (NZD) weakens against the US Dollar (USD) amid expectations that the Reserve Bank of New Zealand (RBNZ) will deliver a rate cut at the November meeting on Wednesday.