The AUD/JPY pair extended its soft tone on Monday ahead of the Asian session, easing toward the 88.50 area. Despite a mild daily decline, the pair remains entrenched in a broader downtrend, trading well beneath its key moving averages.
Silver price sellers failed to decisively clear support at $28.75 daily, and buyers stepped in near yearly lows of $28.33, pushing the grey metal’s price back above $29.80 with traders eyeing the $30.00 mark. At the time of writing, XAG/USD trades at $29.89, up 0.89%.
The UK’s Financial Conduct Authority (FCA) proposed new amendments to regulations aimed at supporting the growth and global competitiveness of alternative asset managers.
Gold (XAU) price prolongs its agony and plummets by over 2% on Monday as investors seeking safety bid the US Dollar, with US trade policy fueling speculation of a global recession. XAU/USD trades at $2,971, its lowest level since mid-March, below $3,000.
The Canadian Dollar (CAD) whipsawed to kick off the new trading week, briefly rising after the US Dollar (USD) took a fresh beating on rumors of a possible tariff extension from the Trump administration.
The Greenback added to Friday’s recovery and climbed to three-day highs on the back of the intense safe-haven demand in response to unabated trade tensions following President Trump’s tariffs.
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is trading near the 103 area on Monday after rebounding on Friday.
The Pound Sterling (GBP) plunges over 100 pips or 0.90% against the Greenback at the beginning of the week, driven by recession fears and hopes cut short that the White House could reconsider their position in trade policies over the weekend.
The Bank of Canada's (BoC) Business Outlook Survey for the first quarter has shown that overlook economic activity expectations are contracting sharply as the United States (US) seeks to spark a global trade war across the board.
The Mexican Peso (MXN) plunges against the US Dollar (USD), extending its losses for the second consecutive day as risk appetite deteriorates, with traders moving into the safe-haven status of the Greenback.
The EUR/USD pair edged lower on Monday, slipping toward the 1.0900 zone after earlier testing the upper boundary of its daily range near 1.1050. Despite the intraday pullback, the pair holds onto a bullish structure supported by higher moving averages.
United States (US) President Donald Trump continued his trend of issuing decrees via social media on Monday, lashing out over China's tit-for-tat tariff retaliation last week.
The Pound Sterling (GBP) plunges over 100 pips or 0.90% against the Greenback at the beginning of the week, driven by recession fears and hopes cut short that the White House could reconsider their position in trade policies over the weekend.
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