Pound Sterling (GBP) retains a firm undertone. Investors are looking ahead to this week’s BoE policy decision and expecting a hold amid still sticky UK price trends, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The Euro (EUR) traded narrowly for most of the overnight session before rallying from the upper 1.08s to retest Friday’s intraday high in the low 1.09 area in a spurt of gains through late morning European trade, Scotiabank's Chief FX Strategist Shaun Osborne notes, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The US Dollar (USD) is weaker as US equity futures dip in response to Treasury Secretary Bessent expressing no concern about recent equity market volatility and President Trump saying that reciprocal and sectoral tariffs will be announced on April 2, apparently upping the tariff ante yet again.
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is getting ready for one the most important phone calls in nearly a decade history while the biggest central bank is considering its next steps in monetary policy this week. At the time of writing on Monday,
Gold’s price (XAU/USD) trades sub $3,000, near $2,990 at the time of writing on Monday following Friday’s take-profit-led correction after hitting a fresh all-time high of $3,005. Traders are bracing for a rather eventful week with the German Bundestag set to vote on the defense spending plan, which would boost the European industry by €1 trillion
Increase in momentum suggests potential for NZD to continue to advance; it is unclear whether it can break and remain above the 0.5765/0.5775 resistance zone.
Scope for Australian Dollar (AUD) to rise further vs US Dollar (USD), but it does not seem to have enough momentum to test 0.6385 (there is another resistance at 0.6365).
In its latest report published on Monday, the Organization for Economic Co-operation and Development (OECD) lowers global growth outlook on trade tensions, seeing stronger inflation pressures.
China’s macroeconomic data turned out brighter than expected in Jan-Feb with industrial production, retail sales and urban fixed assets investment (FAI) above Bloomberg’s consensus forecasts.
All the UK action this week comes on Thursday. That's when we'll see both the next instalment of UK wage data and the Bank of England MPC meeting, ING's FX analyst Chris Turner notes.
Beyond all the uncertainty associated with this year's on-again-off-again US tariffs, one core theme weighing on US interest rates and equities has been the fear of a slowing US consumer.
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