Trading news

The Euro edges lower against the US Dollar on Monday, with EUR/USD reversing earlier gains as the Greenback stages a rebound from recent lows, weighing on the shared currency.

NZD/USD declines on Monday, trading around 0.5770 at the time of writing, down 0.10% on the day. After briefly touching 0.5790, the pair erased its earlier gains as market sentiment turned more cautious.

GBP/USD holds firms at around 1.3325 below the 200-day Simple Moving Average (SMA) of 1.3329 as investors wait for the Federal Reserve’s monetary policy decision, which kept the US Dollar steady across the G10 FX board.

The Swiss Franc (CHF) trades on the back foot against the US Dollar (USD) on Monday as markets reposition ahead of this week’s key monetary policy decisions from the Federal Reserve (Fed) and the Swiss National Bank (SNB).

Expectations are rising that the Reserve Bank of Australia (RBA) will confirm a pivot toward tightening in its final decision of the year.

AUD/USD trades steadily around 0.6640 at the time of writing on Monday, after a four-day rally that pushed the pair to two-month highs. The consolidation comes as investors turn cautious ahead of Tuesday’s Reserve Bank of Australia (RBA) decision and Wednesday’s Federal Reserve (Fed) announcement.

The Japanese Yen (JPY) slips 0.2% versus the US Dollar (USD), underperforming the G10, as rising US yields and firm domestic rate expectations weigh on the currency.

The Canadian Dollar (CAD) edges higher against the US Dollar (USD) on Monday, extending gains as investors continue to favour the Loonie on diverging expectations for the Bank of Canada (BoC) and the Federal Reserve (Fed).

The Pound Sterling (GBP) trades slightly lower versus the US Dollar (USD), consolidating after a strong budget-driven rally.

The Euro (EUR) is entering Monday’s NA session flat to the US Dollar (USD) with an extension of its recent consolidation in the mid-1.16s, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

Sluggish labor market conditions in the US contrast with resilient trends in Canada after another strong headline beat for Canadian data Friday, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The US Dollar (USD) is narrowly mixed in quiet trade as investors await this week’s key event—Wednesday’s FOMC decision, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

White House Economic Adviser Kevin Hassett said that they should continue lowering the rate and that Federal Reserve (Fed) Chair Jerome Powell probably agrees it's prudent to cut rates in an interview with CNBC on Monday.

Oil prices are trading nearly $1 lower on the day on Monday, as the commodity’s reversal from Friday’s highs above $60.00 extends to session lows below $59.20 ahead of the American session opening times.

Silver (XAG/USD) remains stable at the start of the week, trading around $58.40 on Monday at the time of writing, up 0.1% on the day. The white metal extends its consolidation phase, as investors avoid taking fresh positions before the Federal Reserve’s policy announcement on Wednesday.

Gold (XAU/USD) kicks off the week on a quiet note, with traders reluctant to take fresh positions ahead of the Federal Reserve’s (Fed) interest rate decision on Wednesday. At the time of writing, XAU/USD is trading around $4,210, extending its consolidation phase within the familiar one-week range.

USD/CNH is trading heavy under 7.0700. China’s November trade data continues to point at weak domestic demand activity and decoupling with the US.

The US Dollar extends gains for the second consecutive day against the Yen on Monday, and tests December’s highs, at the 155.50 area, as the safe-haven Japanese Yen loses ground against its main peers in an otherwise calm trading session.Monetary policy expectations remain the primary market mover w

USD/JPY climbs as markets price in a 25bps Bank of Japan (BOJ) hike on December 19, supported by fiscal stimulus and upside risks to Japanese wage growth, though fair value suggests a longer-term move toward 140, BBH FX analysts report.

Since the US has effectively halted its financial assistance to Ukraine, it has fallen to the European Union to support the Kyiv government financially. And this aid is urgently needed — Ukraine’s funds are expected to run dry as early as April.