The GBP/USD pair has recovered its daily losses, trading around 1.3570 during the Asian hours on Monday. The bullish bias may weaken as the daily chart’s technical analysis indicates that the pair is hovering around the ascending channel pattern.
The USD/TWD pair continues with its struggle to attract any meaningful buyers and trades with a mild negative bias below the 29.50 area during the Asian session on Monday. Spot prices remain close to over a one-month low touched last Friday and seem unaffected by a modest US Dollar (USD) uptick.
The GBP/JPY pair struggles to extend its upside above 196.00 from the last three trading sessions. During Asian trading hours on Monday, the cross has faced pressure near 196.00 again and has ticked down to near 195.50.
The renewed US-China trade truce struck in London left a key area of export restrictions tied to national security untouched, an unresolved conflict that threatens a more comprehensive deal, per Reuters.
European Central Bank Vice President Luis de Guindos said on Monday that the exchange rate of EUR/USD at 1.15 is no big obstacle on the inflation target.
The EUR/USD pair trades with a mild negative bias below mid-1.1500s through the Asian session on Monday amid a modest US Dollar (USD) uptick, though it lacks bearish conviction.
The Indian Rupee (INR) surrenders early losses after posting a fresh two-month low near 86.20 against the US Dollar (USD) and ticks up to near 86.00 during European trading hours on Monday.
Israel has submitted a revised proposal in hostage negotiations with Hamas. It may be the real thing this time (stay tuned). Any confirmed progress or ceasefire implementation would likely impact risk-sensitive assets.
The USD/CHF pair gathers strength to around 0.8125 during the early European session on Monday, bolstered by the rebound in the US Dollar (USD). Investors await the Swiss May Producer and Import Prices and SECO Economic Forecasts, which will be published later on Monday.
Gold price (XAU/USD) sticks to intraday losses through the first half of the European session and now seems to have snapped a three-day winning streak to a nearly two-month peak touched earlier this Monday.
USD/CAD is trading around 1.3600 during the Asian hours on Monday after rebounding from eight-month low of 1.3566, which was recorded on June 13. The pair gains ground as the commodity-linked Canadian Dollar (CAD) faces challenges due to a decline in the crude Oil prices.
The Silver price (XAG/USD) edges lower to around $36.20 during the Asian trading hours on Monday. The recovery in the Greenback weighs on the USD-denominated commodity price. However, the potential downside seems limited amid the escalating geopolitical tensions in the Middle East.
NZD/USD holds gains following the release of mixed economic data from China, trading around 0.6020 during the Asian hours on Monday. The National Bureau of Statistics (NBS) reported that China’s Retail Sales rose 6.4% year-over-year in May, surpassing the 5.0% expected and April’s 5.1% increase.
The Japanese Yen (JPY) remains on the back foot against its American counterpart for the second straight day on Monday amid expectations that the Bank of Japan (BoJ) might forego another interest rate hike this year.
Following the release of the top-tier China’s May activity data, the National Bureau of Statistics (NBS) expressed its outlook on the economy during its press conference on Monday.
The Australian Dollar (AUD) recovers its daily losses against the US Dollar (USD) as the risk sentiment improves, driven by Israel's revised proposal in hostage negotiations with Hamas, which could lead to a temporary ceasefire.
China’s May Retail Sales rose 6.4% year-over-year (YoY) vs. 5.0% expected and 5.1% in April, the latest data released by the National Bureau of Statistics (NBS) showed Monday.
EUR/USD extends its losses for the second successive session, trading around 1.1540 during the Asian hours on Monday. The pair depreciates as the US Dollar (USD) gains ground amid rising safe-haven demand as geopolitical tensions escalate in the Middle East.
On Monday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1789 as compared to Friday's fix of 7.1772 and 7.1854 Reuters estimate.
The Bank of Japan (BoJ) is considering reducing the pace of its Japanese government bond (JGB) tapering by half, beginning in April 2026, per the Japan News.
The GBP/USD pair remains on the defensive below a three-year top touched on Friday, though it lacks bearish conviction and oscillates in a narrow band around mid-1.3500s during the Asian session.
The Gold price (XAU/USD) attracts some buyers to near $3,445 during the early Asian session on Monday. The precious metal rises to over a one-month high due to escalating Middle East tensions and rising bets of a Federal Reserve (Fed) rate cut.
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