Trading news

ING analysts Chris Turner notes the US Dollar (USD) starts the week slightly offered as investors focus on positive geopolitical and political developments, but highlights that high Oil prices and elevated rates keep risks alive.

The NZD/USD pair trades with mild gains around 0.5885 during the early European session on Monday.

The Euro (EUR) extends gains for the second consecutive day against the US Dollar (USD) on Monday, as investors hold moderate optimism that the Iran-US level might yield a positive outcome. German GfK consumer sentiment data disappointed, but the impact on the common currency has been mild so far.

AUD/USD extends its gains for the second consecutive day, trading around 0.7160 during the early European hours on Monday.

UOB analysts Quek Ser Leang and Lee Sue Ann highlight that EUR/USD has rebounded within a tight range after earlier weakness, with recent price action seen as part of a short-term consolidation.

Here is what you need to know on Monday, April 27:

Danske Research Team reports that equities advanced last week, with a notable divergence emerging between regions and sectors. Strong earnings and higher Oil prices boosted technology and energy, benefitting US markets, while Europe lagged.

Commerzbank’s Volkmar Baur says USD/JPY traders are focused on the upcoming Bank of Japan (BoJ) meeting, where a rate hike is seen as very unlikely and largely priced out versus three weeks ago.

The GBP/JPY pair ticks up to near 215.70 during the early European trade on Monday. The pair edges higher as the Japanese Yen (JPY) underperforms its major currency peers amid uncertainty surrounding the Bank of Japan’s (BoJ) monetary policy, which will be announced on Tuesday.

The EUR/GBP cross holds steady around 0.8660 during the early European trading hours on Monday. Markets turn cautious ahead of the European Central Bank (ECB) and the Bank of England (BoE) interest rate decisions on Thursday. 

Germany GfK Consumer Confidence Survey came in at -33.3, below expectations (-29.5) in May

The USD/JPY pair gives back its opening gains and trades marginally lower around 159.20 during the late Asian trading session on Monday. The pair surrenders early gains as the US Dollar (USD) turns upside down despite the United States (US)-Iran diplomacy remaining at a stalemate.

The AUD/JPY cross gathers strength to around 114.15 during the early European session on Monday. Reports that Iran gave the US a proposal for reopening the Strait of Hormuz and ending the war improve market sentiment, supporting the riskier currencies such as the Australian Dollar (AUD).

The USD/CAD pair attracts some sellers following a modest Asian session uptick to the 1.3680 area on Monday, though it lacks follow-through selling.

The Indian Rupee (INR) holds onto weekly losses against the US Dollar (USD) at open on Monday.

Japan Coincident Index remains at 116.3 in February

Japan Leading Economic Index above forecasts (112.4) in February: Actual (113.3)

Singapore Industrial Production (YoY) climbed from previous -0.1% to 10.1% in March

Singapore Industrial Production (MoM) up to 4.7% in March from previous -7.2%

USD/CHF remains subdued for the second successive day, trading around 0.7840 during the Asian hours on Monday. The pair struggles as the US Dollar (USD) extends its losses despite increased safe-haven demand.