Trading news

The GBP/USD pair trades lower near 1.3300 in the early European trade at the start of the week, the lowest level seen in over five weeks.

The USD/CAD pair edges higher to around 1.3750 during the early European trading hours on Monday. The US Dollar (USD) extends its upside against the Canadian Dollar (CAD) as traders have largely priced ‌out US interest rate cuts this year, while expectations for a hike have risen. 

The Indian Rupee (INR) extends its over-a-week-long downfall against the US Dollar (USD) at the start of the week. The USD/INR pair explores the uncharted territory and posts a fresh all-time high at 96.33, as a fresh upside move in oil prices has weakened the Indian Rupee further.

West Texas Intermediate (WTI) oil price gains ground for the third consecutive day, trading around $102.70 during the Asian hours on Monday.

The USD/JPY pair scales higher for the sixth consecutive day – also marking the seventh day of a positive move in the previous eight – and climbs to a two-and-a-half-week high during the Asian session on Monday.

The EUR/JPY cross gathers strength to near 184.80, snapping the four-day losing streak during the early European trading hours on Monday. A hawkish tone from the European Central Bank (ECB) provides some support to the Euro (EUR) against the Japanese Yen (JPY).  

EUR/USD remains subdued for the sixth successive day, trading around 1.1620 during the Asian hours on Monday. The pair loses ground as the US Dollar (USD) rises on the US Federal Reserve (Fed) shifting toward a more aggressive policy stance on inflation.

Bank of England (BoE) Deputy Governor Sarah Breeden warned that political uncertainty is hitting the business environment and cautioned that the UK central bank should not be "trigger happy" when adjusting interest rates, the Financial Times reported on Monday.

Gold (XAU/USD) stages a modest recovery from the $4,480 region, or its lowest level since March 30, touched during the Asian session on Monday, though the upside potential seems limited. The US Dollar (USD) buying remains unabated in the wake of persistent geopolitical uncertainties.

Gold prices remained broadly unchanged in India on Monday, according to data compiled by FXStreet.

The USD/CHF pair holds steady near 0.7870 during the early European session on Monday. The pair currently trades near the highest since April 30, bolstered by a stronger US Dollar (USD). Traders will closely monitor the developments surrounding the US-Iran conflicts. 

AUD/JPY extends its losses for the third successive day, trading around 113.20 during the Asian hours on Monday. The technical analysis of the daily chart suggests a potential busted pattern or bearish failure as the currency cross is positioned on the lower trendline of an ascending triangle.

According to the China National Bureau of Statistics's (NBS) statistician, the economy is facing external challenges, but internal driving forces remain unchanged and solid.

AUD/USD loses ground for the third consecutive day, trading around 0.7130 during the Asian hours on Monday. The pair depreciates following key economic data from Australia’s close trading partner, China.

The USD/CAD pair trades with a positive bias above mid-1.3700s during the Asian session on Monday, though it remains below a one-month top touched last Friday.

The NZD/USD pair trades in negative territory around 0.5830 during the Asian trading hours on Monday. The New Zealand Dollar (NZD) faces some selling pressure following the downbeat Chinese economic data. 

China Fixed Asset Investment (YTD) (YoY) registered at -1.6%, below expectations (1.6%) in April

China’s Retail Sales rose 0.2% year-over-year (YoY) in April vs. 2.0% expected and 1.7% in March, the latest data released by the National Bureau of Statistics (NBS) showed Monday.

China Retail Sales (YoY) came in at 0.2%, below expectations (2%) in April

China Industrial Production (YoY) registered at 4.1%, below expectations (5.9%) in April