Trading news

Here is what you need to know on Monday, April 13:

The (EUR) retreated from last week’s highs near 1.1740 against the US Dollar (USD) on Monday, but so far is holding well in the upper 1.1600s. The pair is trading at 1.1685 at the time of writing, having been supported at 1.1670 earlier in the day.

DBS Group Research’s Philip Wee argues that stagflation will dominate the agenda at the International Monetary Fund (IMF) and World Bank Spring Meetings following President Trump’s Strait of Hormuz blockade.

Turkey Current Account Balance registered at $7.501B above expectations ($-7.5B) in February

Turkey Current Account Balance came in at $-7.501B, below expectations ($-7.5B) in February

Bank of Japan (BoJ) Governor Kazuo Ueda said in his prepared remarks in a speech during the European trading session on Monday that the economic recovery is modest in the wake of the war in the Middle East.

MUFG’s Senior Currency Analyst Michael Wan notes that Trump’s announcement of a blockade of the Strait of Hormuz, following failed US–Iran talks, pushed Brent Oil up 9% to US$103 per barrel.

NZD/USD rises after opening at a gap down, trading around 0.5830 during the Asian hours on Monday. The technical analysis of the daily chart signals a potential for a bullish bias as the pair remains within the emerging ascending channel pattern.

Danske Research Team expects equity markets to open more than 1% lower, tracking Asian losses after US‑Iran talks failed and Brent crude gapped higher.

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 Indian Rupee (INR) falls sharply in the opening trade against the US Dollar (USD) at the start of the week.

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, that 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.

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

Gold (XAU/USD) rebounds from the $4,633-$4,632 area, or a four-day trough touched during the Asian session on Monday, and fills a major part of the weekly bearish gap amid mixed cues.