Trading news

Rabobank’s Global Strategist Michael Every highlights United States (US) legislative moves on US Dollar (USD) stablecoins via the CLARITY and GENIUS Acts, stressing how reward structures could entrench Dollar-linked digital assets in global finance.

Crude Oil prices have opened the week in a bullish tone, following US President Donald Trump’s rejection of Iran’s latest peace proposal. The US benchmark West Texas Intermediate (WTI) has jumped by about $4, from Friday’s close around $91.75 to $95.70 at the time of writing.

Societe Generale analysts Michael Haigh, Ben Hoff and Jeremy Sellem argue that reopening the Strait of Hormuz will unleash a double Oil supply shock into an already tightening market.

EUR/CAD inches lower after three days of gains, trading around 1.6090 during the Asian hours on Monday. The currency cross struggles as the commodity-linked Canadian Dollar (CAD) gains ground amid higher oil prices, given Canada’s status as the largest crude exporter to the United States (US).

UOB’s Alvin Liew expects the Federal Reserve (Fed) to keep policy on hold for an extended period in 2026, with only one 25-basis-point cut pencilled in for 4Q26. The shift from earlier expectations of two cuts reflects persistent inflation pressures and delayed labour weakness.

Here is what you need to know on Monday, May 11:

The New Zealand Dollar (NZD) is trading below Friday’s highs against the US Dollar (USD) on Monday. Still, the NZD/USD pair holds within previous ranges, above the late April highs, in the 0.5930 area.

The US Dollar (USD) surrenders half of its early gains during the European trading session at the start of the week, with the US Dollar Index (DXY) dropping to near 98.00 from the intraday high of 98.15.

Dow Jones futures lose 0.12%, trading near 49,630 during the early European hours on Monday, ahead of the United States (US) regular opening. Meanwhile, the S&P 500 decline 0.10% to near 7,410, and the Nasdaq 100 futures inch lower 0.06% toward 29,300.

The USD/CHF pair attracts some buyers at the start of a new week and reverses Friday's decline to the 0.7760 area, or its lowest level since March 10. Spot prices, however, struggle to capitalize on the intraday move up and remain below the 0.7800 mark through the early part of the European session.

Commerzbank notes that India’s April PMIs (Purchasing Managers' Index) show resilient activity in both manufacturing and services despite global uncertainty and higher input costs. External demand remains firm for goods, while domestic demand drives services.

Silver price (XAG/USD) extends its winning streak for the fourth successive day, trading around $80.70 per troy ounce during the Asian hours on Monday.

MUFG’s Teppei Ino reviews recent USD/JPY price action, noting the pair opened near 156.90 and experienced several sharp intraday swings between the 155 and 158 levels during Japan’s holiday period.

The USD/CAD pair trades on a flat note around 1.3675 during the early European trading hours on Monday. The US April Nonfarm Payrolls (NFP) report exceeded expectations, which could provide some support for the US Dollar (USD) against the Canadian Dollar (CAD). 

Deutsche Bank analysts highlight that United States (US) equities, including the S&P 500 and Nasdaq, have pushed to new highs, supported by strong AI-related earnings, resilient US data and easing Oil prices last week.

The GBP/JPY cross attracts fresh buyers in the vicinity of the 100-day Simple Moving Average (SMA) support and fills a modest weekly bearish gap opening on Monday. Spot prices, however, lack follow-through and currently trade just below mid-213.00s during the early European session.

UOB Global Economics & Markets Research highlights that WTI and Brent futures rebounded modestly on Friday but still logged their largest weekly declines since April 2026.

The Euro (EUR) opened the week on a moderately soft note against the British Pound (GBP). The pair pulls back to the 0.8650 area at the time of writing, from session highs near 0.8660, although it maintains a mild constructive tone intact, after bouncing from 0.8620 lows last week.

The AUD/USD pair recovers a majority of its opening losses and is marginally down to near 0.7240 during the early European trading session on Monday.

Commerzbank’s Thu Lan Nguyen highlights growing legal tensions around US sanctions on Chinese refineries buying Iranian Oil, warning this could erode the Dollar’s reserve status over time.