Trading news

The EUR/USD pair trades with mild gains around 1.1515 during the early Asian session on Monday. The stronger-than-expected US jobs data and heightened uncertainty in the Middle East boost demand for the US Dollar (USD) as a safe-haven. 

The AUD/USD pair extends the decline to near 0.6885 during the early Asian session on Monday. The US Dollar (USD) strengthens against the Australian Dollar (AUD) amid stronger-than-expected US employment data and ongoing geopolitical tensions in the Middle East.

The USD/JPY pair trades on a flat note near 159.65 during the early Asian session on Monday. The pair steadies as traders continue to assess the developments surrounding the US-Iran conflict.

The Organization of the Petroleum Exporting Countries and its allies (OPEC+) agreed on Sunday to raise their oil output quotas by 206,000 barrels per day (bps) for May, Reuters reported.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $105.00 during the Asian trading hours on Monday. The WTI price climbs to its highest levels in nearly four years amid escalating conflict in the Middle East.

Spot Gold gapped marginally lower at the weekly opening, with the XAU/USD pair battling to retain the $4,600 mark early in the Asian session.

United States President Donald Trump has threatened to destroy Iran if they do not reopen the Strait of Hormuz before the deadline, in a post shared on Truth Social.

United States CFTC Gold NC Net Positions down to $163.2K from previous $168.3K

United Kingdom CFTC GBP NC Net Positions up to £-52.7K from previous £-58.4K

United States CFTC Oil NC Net Positions fell from previous 233.6K to 213.5K

Eurozone CFTC EUR NC Net Positions down to €0.5K from previous €9.3K

United States CFTC S&P 500 NC Net Positions rose from previous $-80.9K to $-42.5K

Japan CFTC JPY NC Net Positions: ¥-72.9K vs previous ¥-62.8K

Australia CFTC AUD NC Net Positions: $81.5K vs $70.9K

The GBP/USD extended its losses for the second straight day, down 0.12% after a stellar US Nonfarm Payrolls report, which could refocus the Federal Reserve on battling higher inflation that has remained above target for five years. At the time of writing, the pair trades at 1.3205.

USD/JPY trades with a mild downside bias on Friday as lingering intervention fears support the Japanese Yen (JPY), even as the US Dollar (USD) remains firm against its major peers following the upside surprise in US Nonfarm Payrolls (NFP) data.

The US S&P Global Services PMI in March reported that business activity in the sector is slowing sharply, falling to contractionary territory for the first time since January 2023, amid higher inflation and the war in the Middle East.

AUD/USD reverses earlier gains on Friday as stronger-than-expected US Nonfarm Payrolls (NFP) data supports the US Dollar (USD), adding modest pressure on the Australian Dollar (AUD), while price action remains subdued amid thin liquidity due to the Good Friday holiday.

The USD/CAD rises some 0.14% on Friday after an outstanding employment report in the US, which exceeded economists projectio by almost three times, according to the US Bureau of Labor Statistics (BLS).

United States S&P Global Composite PMI came in at 50.3, below expectations (51.4) in March