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GBP/JPY rises to near 214.60 as Yen underperforms at the start of the week
The GBP/JPY pair trades higher to near 214.60 during the European trading session on Monday. The pair gains as the Japanese Yen (JPY) underperforms its peers amid uncertainty surrounding the Bank of Japan’s (BoJ) interest rate decision, which will be announced on April 28.
DXY: New range forms as conflict risk lingers – ING
ING’s Chris Turner notes the US Dollar (USD) briefly weakened after news that the Strait of Hormuz was fully open, implying US Dollar Index (DXY) around 97.50/98.00 and EUR/USD just over 1.18 if the crisis were resolved.
Equities: Valuations improve as earnings hold – HSBC
HSBC Asset Management highlights that global stock indices have stayed resilient through the Oil shock, while valuations and risk premia have adjusted more meaningfully.
Oil: Strait tensions keep upside risks alive – Danske Bank
Danske Research Team highlights that Brent crude has rebounded toward USD 95/bbl as US–Iran tensions around the Strait of Hormuz intensify.
USD/CHF steadies above 0.7800 as US Dollar gains on cautious Fed outlook
USD/CHF inches higher after registering modest losses in the previous trading day, hovering around 0.7820 during the early European hours on Monday.
Iran's Pezeshkian: War is in no one's interest
According to the Iranian Republic News Agency, Iran President Masoud Pezeshkian said during European trading hours on Monday that the "war is in no one's interest”, and “every rational and diplomatic path should be used to reduce tensions”.
Gold bulls seem reluctant near $4,800 as inflation concerns counter retreating USD
Gold (XAU/USD) looks to build on its modest intraday recovery from the $4,737-$4,738 region or a one-week low touched earlier this Monday, and trades around the $4,800 mark heading into the European session.
NZD/USD softens to near 0.5850 as US–Iran tensions rise
The NZD/USD pair attracts some sellers to around 0.5865 during the early European session on Monday. The New Zealand Dollar (NZD) softens against the US Dollar (USD) amid heightened tensions between the United States (US) and Iran and the re-closing of the Strait of Hormuz.
GBP/USD: Downward momentum fades into broad range – UOB
UOB economists Quek Ser Leang Lee and Sue Ann note that GBP/USD spiked to 1.3599 before dropping sharply and then sliding again on Monday. They see a chance of a test of 1.3450, with 1.3400 unlikely to be threatened.
US Dollar Index holds gains near 98.50 due to renewed Middle East tensions
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is experiencing volatility and holding gains around 98.30 during the Asian hours on Monday.
EUR/GBP edges up above 0.8700 with UK’s PM Starmer in question
the Bank of England with some margin
JPY: Yen weakens as rate hike expectations fade – MUFG
MUFG’s Teppei Ino reviews Japanese Yen's (JPY) performans, with noting the USD/JPY pair briefly tested 159.86 before retreating on shifting risk sentiment.
USD/INR gains as renewed Mideast conflicts boost oil prices
The Indian Rupee (INR) trades lower against the US Dollar (USD) at the start of the week. The USD/INR jumps to near 92.80 as renewed tensions between the United States (US) and Iran have lifted the oil prices and offered support to the US Dollar (USD).
Silver Price Forecast: XAG/USD declines to near $79.30 as Iran closes Hormuz again
Silver price (XAG/USD) is down 1.7% to near $79.30 during the early European trading session on Monday.
EUR/USD: Limited upside as longer-term Dollar risks grow – Commerzbank
Commerzbank’s Thu Lan Nguyen argues that in the short term EUR/USD gains are capped as markets may be overestimating the European Central Bank's (ECB) reaction to the latest inflation shock.
Germany Producer Price Index (MoM) above forecasts (1.4%) in March: Actual (2.5%)
Germany Producer Price Index (MoM) above forecasts (1.4%) in March: Actual (2.5%)
Germany Producer Price Index (YoY) increased to -0.2% in March from previous -3.3%
Germany Producer Price Index (YoY) increased to -0.2% in March from previous -3.3%
Pound Sterling Price News and Forecast: GBP/USD remains in negative territory on renewed US–Iran tensions
GBP/USD pares its recent losses after opening at a gap down, still trading lower around 1.3500 during the Asian hours on Monday. The pair faced challenges as the US Dollar (USD) drew support from heightened safe-haven demand amid re-escalating United States (US)–Iran tensions.
AUD/JPY loses traction to near 113.50 as US-Iran tensions escalate after ship seizure
The AUD/JPY cross loses ground near 113.65 during the early European session on Monday. Renewed tensions between the United States (US) and Iran provide some support to a safe-haven currency such as the Japanese Yen (JPY) against the Aussie.
WTI Price Forecast: Bulls seem hesitant above $87.00 as 200-SMA breakdown remains in play
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – struggles to capitalize on its bullish gap opening, though it sticks to modest intraday gains through the Asian session on Monday.
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