Gold price climbed on Monday during the North American session, posting gains of 0.56% amid thin trading as markets in the United States (US) were closed in observance of Presidents’ Day.
The US Dollar alternated gains with losses in the area of two-month lows in a context of marginal trading conditions amid the inactivity in the US markets due to the Washington’s Day holiday.
The US Dollar Index (DXY), which tracks the US Dollar's performance against six major currencies, trades flat on Monday as traders monitor new geopolitical developments.
The Mexican Peso (MXN) extended its gains versus the US Dollar (USD), clearing key support at the 50-day Simple Moving Average (SMA) of 20.42 as the USD/MXN found acceptance at lower exchange rates.
The Canadian Dollar (CAD) was flat on Monday, driven into the middle by a complete lack of market volume.
European Central Bank (ECB) Governing Council member and head of the Austrian central bank, Oesterreichische Nationalbank (OeNB) noted on Monday that warning signs that the ECB may undershoot inflation targets are growing, but overall inflation figures are still lopsided and make policy moves difficult.
EUR/USD took a step back on Monday, edging down 0.15% to 1.0475 after last week's impressive rally of over 1.50% which marked four-day winning streak.
Federal Reserve (Fed) Board of Governors member Michelle Bowman noted on Monday that the Fed's recent progress on inflation may have been hampered by rising asset prices.
Colombia Gross Domestic Product (YoY) in line with forecasts (2.3%) in 4Q
The Pound Sterling registered modest gains versus the US Dollar on Monday in thin liquidity trade due to the observance of US President's Day.
The USD/JPY pair slumps to near 151.40 in Monday’s North American session.
Federal Reserve Bank of Philadelphia President Patrick Harker said on Monday that the current economy argues for a steady policy for now, as reported by Reuters.
We and the market expect RBA to cut the cash rate by 25bps at the 18 February meeting.
The USD/CAD pair ticks higher to near 1.4190 in Monday’s North American session after rebounding from a two-month low of 1.4150, which it posted on Friday.
Canada Canadian Portfolio Investment in Foreign Securities fell from previous $17.85B to $3.77B in December
Canada Foreign Portfolio Investment in Canadian Securities above forecasts ($14.23B) in December: Actual ($14.37B)
Canada Housing Starts s.a (YoY) below forecasts (250K) in January: Actual (239.7K)
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, consolidates last week’s losses and trades flat at around 106.80 at the time of writing on Monday.
Gold’s price (XAU/USD) is trying to reclaim $2,900 again at the time of writing on Monday after its steep correction on Friday. While United States (US) markets are closed due to the President’s Day bank holiday, the Federal Reserve (Fed) is not. On a
West Texas Intermediate (WTI), futures on NYMEX, trades with caution above the seven-week low of $70.15 in Monday’s European session.
As long as US Dollar (USD) remains below 7.2800 vs Chinese Yuan (CNH), it could dip below 7.2500 before stabilisation is likely.
US Dollar (USD) is likely to edge lower vs Japanese Yen (USD), but it is unlikely to reach the major support at 151.00.
New Zealand Dollar (NZD) could test 0.5755 vs US Dollar (USD) before levelling off; the major resistance at 0.5790 is unlikely to come under threat.
Both AUD and NZD ended last week on a strong footing amid broadly positive risk sentiment, but this week might bring more mixed winds for the antipodeans, Danske Bank's FX analyst Mohamad Al-Saraf reports.
Australian Dollar (AUD) is unlikely to rise much further; it is expected to trade in a 0.6325/0.6375 range.
EUR/USD has edged higher to just below the 1.05 mark, supported by renewed momentum in Ukraine peace talks, Danske Bank's FX analyst Mohamad Al-Saraf reports.
European gas prices fell by a little more than 9% last week, the largest weekly decline since early January.
USD/JPY extended its decline as stronger 4Q GDP print (2.8% QoQ, saar) solidified expectations for another BoJ hike to be in due course.
EUR/USD struggles to extend its upside move above the psychological resistance of 1.0500 in Monday’s European session.
Despite the downward pressure on oil prices through much of last week, the market still managed to eke out a small gain with ICE Brent settling 0.11% higher on the week.
US Dollar (USD) longs continue to unwind as tariff concerns fade.
The Pound Sterling (GBP) is likely to trade in a range between 1.2540 and 1.2620 vs the US Dollar (USD).
The AUD/USD pair posts a fresh two-month low at 0.6373 in Monday’s European session.
This year's FX markets have told not to chase big definitive headlines or range breakouts, and this applies to GBP/USD at 1.2600/2610, ING’s FX analysts Chris Turner notes.
Bank of England (BoE) Governor Andrew Bailey said on Monday that the fourth quarter Gross Domestic Product (GDP) figures do not change general story on the UK economy.
Japanese Yen (JPY) is outperforming. Japan’s preliminary real GDP increased four ticks more than expected by 0.7% q/q in Q4 vs.
Eurozone Trade Balance s.a.: €14.6B (December) vs €12.9B
Eurozone Trade Balance n.s.a. came in at €15.5B, above expectations (€14.4B) in December
The Dollar Index (DXY) is down just over 3% from its early January high.
EUR/USD is consolidating just under 1.0500. Over the weekend, ECB Governing Council member Fabio Panetta argued for looser monetary policy , BBH's FX analysts report.
Silver prices (XAG/USD) rose on Monday, according to FXStreet data.
Euro (EUR) continued to drift higher vs the US Dollar (USD) on prospects of a Ukraine peace deal and on news of a delay in reciprocal tariffs.
There is a lot of soul-searching underway in European capitals as leaders come to terms with last week's shock new direction for US foreign policy.
Instead of continuing to rise, Euro (EUR) is more likely to consolidate within a 1.0455/1.0515 range vs US Dollar (USD).
Silver (XAG/USD) attracts dip-buyers near the $31.90 region at the start of a new week and stalls its retracement slide from the highest level since October 30, around the $33.35-$33.40 area touched on Friday.
India Trade Deficit Government climbed from previous $21.94B to $22.99B in January
Italy Trade Balance EU: €-1.861B (December) vs previous €-1.816B
Italy Global Trade Balance came in at €5.98B, above expectations (€4.35B) in December
The US Dollar Index (DXY) edges higher after registering losses in the previous two consecutive sessions, trading around 106.90 during the European hours on Monday.
The Pound Sterling (GBP) trades steady against its major peers at the start of the week as investors turn cautious ahead of the United Kingdom (UK) employment data for three months ending December, which will be released on Tuesday.
Turkey Budget Balance increased to -139.26B in January from previous -829.2B
Here is what you need to know on Monday, February 17: Major currency pairs trade near the previous week's closing levels on Monday as trading conditions remain thin, with financial markets in the US remaining closed in observance of the Presidents' Day holiday.
GBP/JPY continues its losing streak for the third consecutive session, trading around 191.00 during the European hours on Monday.
West Texas Intermediate (WTI) Oil price advances on Monday, according to FXStreet data.
NZD/USD extends its winning streak for the third successive day, trading around 0.5740 during the early European hours on Monday.
The USD/CAD pair remains on the defensive around 1.4175 on Monday during the early European session.
FX option expiries for Feb 17 NY cut at 10:00 Eastern Time via DTCC can be found below.
The USD/CHF pair extends its decline to around 0.8990 during the early European session, pressured by the weaker US Dollar (USD).
The EUR/USD pair struggles to capitalize on its gains registered over the past four days and oscillates in a narrow trading band, just below the 1.0500 psychological mark during the Asian session on Monday.
EUR/GBP retraces its recent gains from the previous session, trading around 0.8330 during Monday's Asian hours.
Gold prices rose in India on Monday, according to data compiled by FXStreet.
Gold price (XAU/USD) attracts some dip-buying at the start of a new week and reverses a part of Friday's retracement slide from the vicinity of the all-time peak.
Japan Industrial Production (YoY) rose from previous -1.1% to 1.6% in December
Japan Industrial Production (MoM) registered at -0.2%, below expectations (0.3%) in December
Japan Capacity Utilization increased to -0.2% in December from previous -1.9%
Japan Tertiary Industry Index (MoM) registered at 0.1%, below expectations (0.2%) in December
The AUD/JPY cross attracts some sellers to near 96.55 during the Asian trading hours on Monday.
EUR/JPY gives up gains from the previous session, trading around 159.10 during the Asian hours on Monday.
Indonesia Trade Balance above forecasts ($1.91B) in January: Actual ($3.45B)
Indonesia Imports below forecasts (9.95%) in January: Actual (-2.67%)
Indonesia Exports registered at 4.68%, below expectations (6.99%) in January
Silver price (XAG/USD) recovers its recent losses registered in the previous session, trading near $32.40 per troy ounce during Monday's Asian session.
The NZD/USD pair attracts buyers for the third successive day on Monday and climbs to a two-month peak, around the 0.5750 area during the Asian session amid the prevalent US Dollar (USD) selling bias.
West Texas Intermediate (WTI) Oil price rebounds from losses in the previous session, trading around $70.60 per barrel during Monday’s Asian hours.
Japanese Chief Cabinet Secretary Yoshimasa Hayashi noted on Monday that “Japan faces significant challenges if its companies become targets amid US President Donald Trump's policies; the government will respond carefully to potential impacts.” Additional quotes Exports, particularly in services, demonstrated growth, counterbalancing the decline in domestic demand, while the year's value rose by 2.9% year-on-year, exceeding 609.3 trillion yen for the first time.
The Japanese Yen (JPY) strengthened across the board following the release of a strong Gross Domestic Product (GDP) report, which showed that Japan’s economic growth blew past expectations in the fourth quarter.
The Indian Rupee (INR) weakens on Monday, snapping the two-day winning streak.
Speaking at the AlUla Conference for Emerging Market Economies in Saudi Arabia on Sunday, People's Bank of China (PBOC) Governor Pan Gongsheng said that the central bank “will continue to let the market play a decisive role in deciding the Yuan exchange rate.” Additional quotes Emphasized that a stable yuan is crucial for global financial and economic stability.
South Korea Trade Balance climbed from previous $-1.89B to $-1.86B in January
Kevin Hassett, Director of the US National Economic Council (NEC), revealed in an interview with CBS' Face The Nation early Monday he is having regular meetings with Federal Reserve (Fed) Chairman Jerome Powell.
The Australian Dollar (AUD) continues its upward momentum against the US Dollar (USD) for the third straight day on Monday, supported by US President Donald Trump's decision to delay the implementation of reciprocal tariffs.
Japan's Economy Minister Ryosei Akazawa said on Monday that he expects the Japanese economy to continue making a modest recovery.
On Monday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1702 as compared to Friday's fix of 7.1706 and 7.2617 Reuters estimates.
The GBP/USD pair trades with mild gains near 1.2585 during the early Asian session on Monday.
The USD/CAD pair kicks off the new week on a positive note and reverses a major part of Friday's slide to mid-1.4100s, or its lowest level since December 12.
EUR/USD halts its four-day winning streak, hovering around 1.0490 during Asian trading hours.
Gold price (XAU/USD) edges lower to near $2,880 due to profit-taking during the early Asian session on Monday.
United Kingdom Rightmove House Price Index (YoY) down to 1.4% in February from previous 1.8%
United Kingdom Rightmove House Price Index (MoM) declined to 0.5% in February from previous 1.7%
Japan Gross Domestic Product Deflator (YoY) in line with forecasts (2.8%) in 4Q
Japan Gross Domestic Product (QoQ) came in at 0.7%, above forecasts (0.3%) in 4Q
Japan Gross Domestic Product Annualized above forecasts (1%) in 4Q: Actual (2.8%)
Trump administration officials are preparing to meet with Russian officials on Tuesday in Saudi Arabia to discuss a possible agreement on ending the war in Ukraine, two sources with direct knowledge said.
The AUD/USD pair weakens to near 0.6345 during the early Asian session on Monday.