ไทม์ไลน์ข่าวสาร forex

14:21 Gold extends its bull run on weak US Dollar, trade tensions
Gold price (XAU/USD) refreshes all-time highs to near $3,400 at the start of the week.

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}Gold price posts a fresh all-time high near $3,400 as Trump mulls the removal of Fed Powell for supporting a “wait and see” approach on interest rates.Questions over the Fed’s independence have weighed on the US Dollar significantly.President Trump expresses confidence in trade talks with a few trading partnersGold price (XAU/USD) refreshes all-time highs to near $3,400 at the start of the week. The precious metal strengthens as the US Dollar (USD) bleeds, with the Federal Reserve’s (Fed) independence coming under threat as United States (US) President Donald Trump considers removing Fed Chairman Jerome Powell. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, plummets to near 98.00, the lowest level seen in three years. Technically, a weak US Dollar makes Gold a bargain bet for investors. US President Trump criticizes Powell for not reducing interest rates even though the prices of some goods, and Oil, have fallen significantly. "The Fed really owes it to the American people to get interest rates down. That’s the only thing he’s good for," Trump said and added, "I am not happy with him. If I want him out of there he’ll be out real fast, believe me," Trump said on Friday.Meanwhile, White House economic adviser Kevin Hassett has also confirmed that the President and his team are looking for ways to oust Fed Powell. "The President and his team will continue to study that matter," Hassett said on Friday.Financial market participants have taken these comments significantly as negative for the US Dollar’s outlook, as it raises questions over the Fed’s independence from political operations, forcing them to further downgrade its safe-haven status.Lately, ever-changing headlines from Washington on their tariff agenda have forced investors to reassess the US Dollar’s status as a “reserve currency”. Market experts believe that Donald Trump's imposition of worse-than-expected tariffs is painful for the US economy itself. Theoretically, heightening US economic worries improve the safe-haven demand for the precious metals, such as Gold.Daily digest market movers: Gold price could decline if global economic uncertainty diminishesGold price is on steroids due to escalated trade tensions and weakness in the US Dollar. However, the safe-haven demand for the precious metal could diminish soon as trade talks by the US with its trading partners are progressing. US President Trump has expressed confidence in having a deal with Japan and Mexico after meeting with their representatives last week. "Had a very productive call with the President of Mexico yesterday. Likewise, I met with the highest-level Japanese Trade Representatives. It was a very productive meeting. Every Nation, including China, wants to meet! Today, Italy! US President Donald Trump wrote in a post on the TruthSocial platform on Thursday.Over the long weekend due to Good Friday, Trump said, "There will be a trade deal, 100%," and added, "but it will be a fair deal". His comments came after meeting with Italy’s Prime Minister (PM) Giorgia Meloni, the first European Union (EU) leader to meet Trump after the announcement of reciprocal tariffs.Meanwhile, President Trump is also confident about having a deal with China. “We're having nice conversations going with China. It's really very good,” Trump said on Friday. Additionally, US Commerce Secretary Howard Lutnick has also expressed optimism over a US-China trade deal and said during the weekend, “We're confident it will work out with China.”Market participants expect that the closure of trade deals between the US and its trading partners, especially China, will lead to the reversal of reciprocal tariffs announced by Trump. Such a scenario will diminish global economic uncertainty and weigh on the safe-haven demand of precious metals.Technical Analysis: Gold rallies to near $3,400Gold price jumps to near $3,400 on Monday. The precious metal has shown a strong run-up from over a week after an upside breakout of the one-year-old Rising Channel formed on the daily chart. The upward border of the above-mentioned chart pattern is plotted from the April 12, 2024, high of $2,431, while the lower border is placed from the February 15, 2024, low of $1,990.30.All short-to-long Exponential Moving Averages (EMAs) are sloping higher, suggesting a strong uptrend. The 14-day Relative Strength Index (RSI) jumps to near 75.00, which indicates a strong bullish momentum, albeit in overbought conditions.Looking down, the April 11 high of $3,245 will act as a key support zone for the pair. On the upside, the round-level resistance of $3,500 will act as the key resistance zone once Gold breaks above the $3,400 level. Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets? Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on? The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.

14:02 GBP/USD surges above 1.3400 as threat to Fed’s independence batters US Dollar
The GBP/USD pair rallies to near 1.3400 during European trading hours on Monday, the highest level seen in seven months. The Cable strengthens as the US Dollar (USD) has been battered by the threat to the Federal Reserve’s (Fed) independence after United States (US) President Donald Trump.

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The Cable strengthens as the US Dollar (USD) has been battered by the threat to the Federal Reserve’s (Fed) independence after United States (US) President Donald Trump.The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, is down over 1% to a fresh three-year low near 98.00.Donald Trump has slammed Fed Powell for continuing to support a “wait and see” approach on the monetary policy until getting greater clarity over how the new tariff policy will shape the economic outlook. Trump has expressed dissatisfaction over Powell’s stance on the monetary policy outlook and has signalled that he can remove him at any time.The Fed really owes it to the American people to get interest rates down. That’s the only thing he’s good for," Trump said. "I am not happy with him. If I want him out of there, he’ll be out real fast, believe me." Trump said on Friday.Meanwhile, trade tensions due to the announcement of reciprocal tariffs by US President Donald Trump have kept the US Dollar on the backfoot for the last three months. Despite Trump's announcement of a 90-day pause on the imposition of reciprocal levies, the uncertainty over the global economic outlook, including the US, remains intact.In the United Kingdom (UK) region, soft Consumer Price Index (CPI) data for March and global uncertainty have paved the way for an interest rate cut by the Bank of England (BoE) in May’s policy meeting. Such a scenario will be unfavorable for the Pound Sterling (GBP). In the Financial Policy Committee (FPC) of the current month, the BoE warned that a major shift in “global trading arrangements” could harm “financial stability by depressing growth”.This week, investors will focus on the preliminary S&P Global/CIPS Purchasing Managers’ Index (PMI) data for April and the Retail Sales data for March, which will be released on Wednesday and Friday. US Dollar FAQs What is the US Dollar? The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away. How do the decisions of the Federal Reserve impact the US Dollar? The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback. What is Quantitative Easing and how does it influence the US Dollar? In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar. What is Quantitative Tightening and how does it influence the US Dollar? Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.

13:22 FXS Fed Sentiment Index remains in hawkish region as Fed independence comes under threat
The Federal Reserve (Fed) will enter the blackout period on April 26 before holding a two-day meeting on May 6-7. Markets widely expect the Fed to hold its policy rate unchanged, with the CME FedWatch Tool's probability of a 25 basis points (bps) at the May meeting holding around 10%.

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Markets widely expect the Fed to hold its policy rate unchanged, with the CME FedWatch Tool's probability of a 25 basis points (bps) at the May meeting holding around 10%. Meanwhile, FXStreet (FXS) Fed Sentiment Index stays near 120, pointing to a hawkish policy stance.While speaking before the Economic Club of Chicago earlier in the month, Fed Chairman Jerome Powell repeated that they are well-positioned to wait for greater clarity before considering any changes to the policy stance. Commenting on United States (US) President Donald Trump's new trade regime, "inflationary effects of tariffs could be more persistent, depends ultimately on inflation expectations," Powell noted.In the meantime, St. Louis Fed President Alberto Musalem stated that they would have to prioritize fighting inflation if inflation expectations were to become unanchored because of tariffs. On a similar note, "at the Fed, our job is to keep inflation under control so that rate isn’t even higher," Minneapolis Fed President Neel Kashkari said. Related news Why the Fed needs to save USA now? USD weakness in focus this week – DBS Five fundamentals for the week: Traders confront the trade war, important surveys, key Fed speech Is the Fed independence under threat?Despite Fed policymakers' overall hawkish tone, as reflected by the FXS Fed Sentiment Index, and market pricing of a strong probability of a policy hold in May, the US Dollar (USD) has been weakening against its major rivals. The USD Index, which gauges the USD's valuation against a basket of six major currencies, is down about 6% in April after losing more than 3% in March. Growing fears over an economic downturn in the US, as a result of the Trump administration's aggressive tariffs, seems to be the primary driver behind the USD selloff.Lately, concerns over the Fed losing its independence have been putting additional weight on the USD's shoulders. US Dollar PRICE This month The table below shows the percentage change of US Dollar (USD) against listed major currencies this month. US Dollar was the weakest against the Swiss Franc. USD EUR GBP JPY CAD AUD NZD CHF USD -6.35% -3.61% -6.16% -4.10% -2.75% -5.52% -8.91% EUR 6.35% 2.88% 0.16% 2.36% 3.79% 0.85% -2.77% GBP 3.61% -2.88% -2.66% -0.51% 0.88% -1.98% -5.51% JPY 6.16% -0.16% 2.66% 2.20% 3.63% 0.67% -2.92% CAD 4.10% -2.36% 0.51% -2.20% 1.40% -1.48% -5.02% AUD 2.75% -3.79% -0.88% -3.63% -1.40% -2.84% -6.33% NZD 5.52% -0.85% 1.98% -0.67% 1.48% 2.84% -3.59% CHF 8.91% 2.77% 5.51% 2.92% 5.02% 6.33% 3.59% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote). In a social media post published just before the European Central Bank's (ECB) monetary policy announcements on April 17, Trump accused Fed Chairman Powell of being "too late and wrong.""The ECB is expected to cut interest rates for the 7th time, and yet, “too Late” Jerome Powell of the Fed, who is always too late and wrong, yesterday issued a report which was another, and typical, complete mess!," Trump said. While speaking to reporters a day later, White House economic adviser Kevin Hassett said President Trump and his team were continuing to study if firing Fed Chairman Powell was an option in a way that it wasn't before. In turn, the USD started the week under strong selling pressure, with the USD Index slumping to its weakest level in about three years near 98.00.Assessing the market reaction to this development, "investors seem less than happy with the idea of a politicized Fed—the US dollar and long-dated government bonds have weakened," noted UBS' economist Paul Donovan. "There are checks on the president’s authority. Fed governors need to be confirmed by the Senate. The FOMC chair does not have to be the Fed chair. However, some of these checks depend on rule of law." Fed FAQs What does the Federal Reserve do, how does it impact the US Dollar? Monetary policy in the US is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability and foster full employment. Its primary tool to achieve these goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, it raises interest rates, increasing borrowing costs throughout the economy. This results in a stronger US Dollar (USD) as it makes the US a more attractive place for international investors to park their money. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates to encourage borrowing, which weighs on the Greenback. How often does the Fed hold monetary policy meetings? The Federal Reserve (Fed) holds eight policy meetings a year, where the Federal Open Market Committee (FOMC) assesses economic conditions and makes monetary policy decisions. The FOMC is attended by twelve Fed officials – the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four of the remaining eleven regional Reserve Bank presidents, who serve one-year terms on a rotating basis. What is Quantitative Easing (QE) and how does it impact USD? In extreme situations, the Federal Reserve may resort to a policy named Quantitative Easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used during crises or when inflation is extremely low. It was the Fed’s weapon of choice during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy high grade bonds from financial institutions. QE usually weakens the US Dollar. What is Quantitative Tightening (QT) and how does it impact the US Dollar? Quantitative tightening (QT) is the reverse process of QE, whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing, to purchase new bonds. It is usually positive for the value of the US Dollar.

12:44 USD/CNY: Strong Q1 GDP growth, but challenges exist – MUFG
Macro data released last week showed the government policy support has been generating positive impact on the economy. China’s Q1 GDP delivered a strong growth of 5.4%yoy, above market expectations of 5.2%yoy.

Macro data released last week showed the government policy support has been generating positive impact on the economy. China’s Q1 GDP delivered a strong growth of 5.4%yoy, above market expectations of 5.2%yoy. Meanwhile, overall March’s monthly macro data pointed to a growth acceleration from prior month or Jan-Feb period, including exports, retail sales, IP and FAI. For exports, the growth surged to 12.4%yoy from a weak average growth of 1.5%yoy in Jan-Feb period. We do not see the negative impacts from US tariffs yet, the exports to US grew by 9.1%yoy in March, an accelerated growth compared with Jan-Feb’s average of 1.1%yoy, MUFG's FX analysts report. China’s growth surprises to the upside, but housing lags"That said, housing recovery remained weak as major activities indicators all posted a negative growth in March whereas the home prices were still on decline. During the 13th State Council special study session held last week focusing on 'Strengthen expectation management and coordinate policy implementation and expectation guidance', Premier Li stressed the importance of policy timing, and the need to roll out policies early and promptly at critical times, to positively shape market expectations – hinting a change to a more proactive approach of the government. USD/CNY ended the week flat compared to previous week’s closing, at around 7.3000 level." "The US-China tit-for-tat continued, with Trump administration imposing new export control on Nvidia’s H20 chips to China and planning to impose levies on Chinese-built and -owned ships docking at US ports whereas China reportedly asked airlines not to further take in Boeing jets deliveries and purchase any aircraft-related equipment and parts from US companies. That said, we think the prospect of US-China negotiation remains on the table, with Bloomberg reported that China wants to see a few steps from Trump administration before a talk." "That includes showing more respect by controlling the disparaging remarks by Trump’s cabinet members, a more consistent US position, a willingness to address China’s concerns on US sanctions and Taiwan as well as US appointing a point person for negotiation talks who has Trump’s support. This comes as Bloomberg also reported that the Trump administration is trying to persuade other nations that come to US for tariffs negotiation to impose 'secondary tariffs' where the nation imposes tariffs on imports from countries that have a close tie with China."

12:41 US and China: who will make the first move? – MUFG
The past week continued to bring a lack of clarity on tariffs, including on how and whether the US and China will eventually come to the table to at least start to negotiate.

The past week continued to bring a lack of clarity on tariffs, including on how and whether the US and China will eventually come to the table to at least start to negotiate. If anything, there were some escalation at the margin, with curbs on Nvidia’s AI chips designed for the China market which led to some sell off in risk sentiment, coupled with further request for comments on the US’ proposal to charge port fees for China-made container ships, MUFG's FX analyst note. Tariff tensions deepen as US-China talks remain distant"While China has set some preliminary conditions for talks according to latest news reports, the gulf between the two powers seem quite large still. It’s important to note that the dispersion in expectations does not seem confined to China as well, with significantly differing readouts from meetings out of Japan and the US post tariff negotiations.""This week, the most important thing to watch out for markets may be how the disagreement between President Trump and Fed Chair Powell could play out further, and as such also further raising concerns around US exceptionalism and the sanctity of US institutions. Last week, Fed Chair Powell struck a relatively hawkish tone for the path of Fed funds rate, highlighting that the Fed needs to be certain that a one-off price increase from tariffs do not eventually result in persistent inflation increases over time.""Curiously, this view somewhat differed from some other members of the FOMC such as Governor Waller who was more focused on the downside risk to US growth from one-off price impact of tariffs. These remarks from Fed Chair Powell elicited a meaningful response from President Trump, with the White House reportedly seeking for ways to remove Chair Powell before his time as Chair ends in 2026. We don’t think that Trump has legal authority to do so, but any signs that this will be forced through will certainly have a significant impact on markets and also the US Dollar."

12:31 USD weakness in focus this week – DBS
The USD’s weakness will likely be a key topic at the G20 Finance Ministers and Central Bank Governor Meeting on April 23-24 in Washington D.C., which will be part of the Spring Meetings of the IMF and the World Bank.

The USD’s weakness will likely be a key topic at the G20 Finance Ministers and Central Bank Governor Meeting on April 23-24 in Washington D.C., which will be part of the Spring Meetings of the IMF and the World Bank. The Trump administration will hold high-level talks with Japan and South Korea on the sidelines, likely including discussions on the weakness of the JPY and KRW. Both countries will likely push back against perceived currency manipulation; Japan Prime Minister Shigeru Ishiba was more vocal in emphasizing fairness in currency discussions. Strong EUR pressures ECB as DXY wobbles before G20"Japan and South Korea are treading a careful diplomatic line, offering incremental concessions to reduce or remove US tariffs on their imports without capitulating to all US demands and avoiding direct alignment with US efforts to economically isolate China. Japan and South Korea are increasingly seen as model cases for nations navigating the geopolitical and economic tensions between the US and China. Their ability to maintain security alliances with Washington while sustaining economic ties with China offers a playbook for other countries. " "Although the IMF is not anticipating a global recession, it will downgrade its global growth forecasts and warn that US-led prolonged trade tensions and policy uncertainties could lead to financial market stress, undermine investor confidence, and pose challenges to financial stability. Despite the darkest global economic backdrop since the global financial crisis, countries are divided at this week’s meetings." "The DXY Index’s fate hinges on its most significant component – the EUR. Having appreciated 10.5% ytd to 1.1440 this morning, EUR/USD faces major resistances near 1.15. The European Central Bank acknowledged the risks a strong EUR poses to inflation and growth. The Eurozone economy faces significant risks from a potential trade war with the US that threatens to overshadow the infrastructure and defence spending boost from the 'Readiness 2030' plan."

12:30 Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Monday, according to FXStreet data.

12:27 Markets spooked by Trump’s interest in removing Powell – UBS
US National Economic Council Director Hassett said US President Trump was investigating whether they could fire Federal Reserve Chair Powell. Investors seem less than happy with the idea of a politicized Fed—the US dollar and long-dated government bonds have weakened.

US National Economic Council Director Hassett said US President Trump was investigating whether they could fire Federal Reserve Chair Powell. Investors seem less than happy with the idea of a politicized Fed—the US dollar and long-dated government bonds have weakened. There are checks on the president’s authority. Fed governors need to be confirmed by the Senate. The FOMC chair does not have to be the Fed chair. However, some of these checks depend on rule of law, UBS' economist Paul Donovan notes. Fed independence in focus as political tensions rise"Arguably, the great moderation of inflation was driven by a trend toward central bank independence. While monetary policy is a relatively blunt weapon, it can be wielded to control medium-term inflation. This depends on trust in the central bank. Building that trust takes years. Losing that trust can happen overnight.""South Korean export data for the first part of April showed a sharp slowdown in exports. Trade that does not touch the US supply chain should not be too badly hurt. Trade involving the US will be weak reflecting a reaction to early inventory building, the direct effect of tariffs, and expectations of a US economic slowdown.""In a quiet data calendar, there are a few central bank speakers to focus on—operational independence rather than policy as such might be the focus."

12:24 Eurozone: ECB cuts rates by 25 bps again – UOB Group
The European Central Bank (ECB) cut interest rates by 25 bps at its 17 April meeting. This is the seventh time since Jun 2025 that the central bank has lowered rates.

The European Central Bank (ECB) cut interest rates by 25 bps at its 17 April meeting. This is the seventh time since Jun 2025 that the central bank has lowered rates. Accordingly, the interest rates on the deposit facility, the main refinancing operations and the marginal lending facility will be reduced to 2.25%, 2.40% and 2.65% respectively, with effect from 23 April, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. Tariffs to impact region’s growth and prices "The European Central Bank (ECB), on Thursday (17 April), lowered interest rates for the seventh time since Jun 2024. At 25 bps lower, the interest rates on the deposit facility, the main refinancing operations and the marginal lending facility will be at 2.25%, 2.40% and 2.65% respectively." "Tariff developments in recent weeks have been the focus. It was thus not surprising that the ECB flagged 'exceptional uncertainty' amid the current political backdrop. The hit for the European economy will depend on the actual tariff rate the US settles on and the EU’s response." "Assuming impact on economic growth coming from weaker US demand for European exports, we now forecast Eurozone GDP growth of 0.5% in 2025 and 1.0% in 2026, down from 0.9% and 1.2%, respectively. Our inflation forecasts now stand at 2.0% in 2025 and 1.7% in 2026, down from 2.2% and 1.9%, respectively. We now expect three more 25 bps interest rate reductions by the ECB this year, taking the deposit rate to 1.50%."

12:18 Silver Price Forecast: XAG/USD advances to near $33.00 due to renewed safe-haven demand
Silver price (XAG/USD) has recovered its losses registered in the previous session, trading near $32.80 per troy ounce during Monday’s European session. The recovery in the grey metal is supported by renewed safe-haven demand amid a weakening US Dollar (USD).

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The recovery in the grey metal is supported by renewed safe-haven demand amid a weakening US Dollar (USD).The US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, has dropped over 1%, hovering around 98.00 — its lowest level since March 2022. The decline in the US Dollar is mirrored by a sharp drop in the 2-year US Treasury yield, which has fallen more than 1% to 3.75%.The Greenback is under pressure due to growing concerns over the direction of US economic policy and the independence of the Federal Reserve (Fed). Investor unease deepened as political tensions further escalated last Thursday with reports suggesting Trump’s dissatisfaction with Fed Chair Jerome Powell, sparking fears of political interference in monetary policy and casting doubt on the central bank's autonomy. The White House economic adviser, Kevin Hassett confirming that the option of dismissal is being explored.The mounting uncertainty on economic fronts has fueled demand for Silver, a traditional safe-haven asset in times of instability. Rising US-China trade tensions added to the risk-off sentiment. China pushed back against what it described as US “trade bullying,” warning other nations against yielding to pressure at its expense.The White House implemented tariffs on Chinese vessels docking at US ports, raising concerns over potential disruptions to global shipping routes. However, by late Thursday, President Trump struck a more conciliatory tone, acknowledging that China had made several overtures. He remarked, “I don't want to go higher on China tariffs. If China tariffs go higher, people won't buy,” signaling caution over further escalation. Trump also expressed optimism, suggesting that a trade agreement between US and China could be finalized within the next three to four weeks. Silver FAQs Why do people invest in Silver? Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets. Which factors influence Silver prices? Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices. How does industrial demand affect Silver prices? Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices. How do Silver prices react to Gold’s moves? Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.

11:57 USD/CHF plummets to its lowest level since 2015, below mid-0.8000s amid bearish USD
The USD/CHF pair attracts heavy selling at the start of a new week and plummets to levels just below mid-0.8000s, or the lowest since January 2015 during the first half of the European session.

11:38 AUD/JPY falls below 90.50 due to rising odds of BoJ rate hikes
The AUD/JPY pair extends its decline for a second straight session, hovering around 90.40 during Monday’s European trading hours. The Japanese Yen (JPY) continues to strengthen, supported by rising expectations that the Bank of Japan (BoJ) will persist with its interest rate hikes.

11:35 EUR/USD breaks above 1.1500 as Trump mulls over Powell’s removal
EUR/USD rallies to near 1.1570 at the start of the week, the highest level seen in three-and-a-half years. The major currency pair strengthens as the US Dollar (USD) falls further due to escalating doubts over its safe-haven status.

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The major currency pair strengthens as the US Dollar (USD) falls further due to escalating doubts over its safe-haven status. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, refreshes a three-year low near 98.00.The remarks over Federal Reserve (Fed) Chair Jerome Powell’s termination by United States (US) President Donald Trump have shaken the credibility of the US Dollar and US assets, which had already faltered due to erratic headlines over tariff policies by Washington. On Friday, US President Trump argued to replace Jerome Powell for not reducing interest rates despite lowering Oil and grocery prices. "The Fed really owes it to the American people to get interest rates down. That’s the only thing he’s good for," Trump said and added, "I am not happy with him. If I want him out of there, he’ll be out real fast, believe me."Fears of the ousting of Jerome Powell and an eventual consequence on the independence of the Fed escalated after White House economic adviser Kevin Hassett confirmed that the President and his team are looking for possible ways to fire Powell. "The President and his team will continue to study that matter," Hassett said on Friday.On that matter, Chicago Fed Bank President Austan Goolsbee said in an interview with CBS’s "Face the Nation" on Sunday that we should not move ourselves into an environment where “monetary independence” is in question, warning that it would undermine the “credibility of the central bank”. Goolsbee added that economists agree that central banks that have the “ability to conduct monetary policy with no political tampering” have “better outcomes for their economies”.Daily digest market movers: EUR/USD gains on Euro’s outperformanceSheer strength in the EUR/USD pair is also driven by the Euro’s (EUR) outperformance, which has come irrespective of increasing European Central Bank (ECB) dovish bets. Financial market participants expect the ECB to cut interest rates again in the June policy meeting due to firming fears of Eurozone inflation undershooting the central bank’s target of 2% in the face of Trump’s international policies. Traders see a 75% chance of an interest rate cut in June, up from 60% after the ECB’s dovish decision on Thursday, Reuters report. Analysts at Citi anticipated price growth of 1.6% next year and 1.8% in 2027 last week before the ECB’s interest rate decision on Thursday.Last week, the ECB reduced its key borrowing rates by 25 basis points (bps) for the sixth time in a row and seventh in the current monetary easing cycle to stimulate the economy against potential economic slowdown. ECB President Christine Lagarde guided a grim economic outlook. “The economic outlook is clouded by uncertainty as trade disruptions would weigh on business investment," Lagarde said.The central bank omitted its comment that interest rates are still restrictive after a long time, suggesting that it could slow down its monetary expansion cycle.Meanwhile, progressive trade talks between the Eurozone and the US have also offered some strength in the Euro. Earlier in the day, Reuters reported that the European Union (EU) is contemplating options to alter its methane emissions rules, making it easier for the US to comply with its Gas exports.Technical Analysis: EUR/USD aims to extend upside to near 1.1600EUR/USD jumps above 1.1550 and refreshes a three-and-a-half-year high on Monday. The major currency pair strengthens after a breakout above the April 11 high of 1.1474. Advancing 20-week Exponential Moving Average (EMA) near 1.0850 suggests a strong upside trend.The 14-week Relative Strength Index (RSI) climbs to overbought levels around 75.00, which indicates a strong bullish momentum, but chances of some correction cannot be ruled out.Looking up, the round-level figure of 1.1600 will be the major resistance for the pair. Conversely, the July 2023 high of 1.1276 will be a key support for the Euro bulls. Euro FAQs What is the Euro? The Euro is the currency for the 19 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%). What is the ECB and how does it impact the Euro? The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde. How does inflation data impact the value of the Euro? Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money. How does economic data influence the value of the Euro? Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy. How does the Trade Balance impact the Euro? Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

11:27 USD/CAD Price Forecast: Declines to near 1.3800 as US Dollar nosedives
The USD/CAD pair slides to near 1.3800 in Monday’s European session, the lowest level seen in six months. The Loonie pair slumps as the US Dollar (USD) underperforms its peers, with the Federal Reserve (Fed) under threat from United States (US) President Donald Trump.

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US Dollar FAQs What is the US Dollar? The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away. How do the decisions of the Federal Reserve impact the US Dollar? The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback. What is Quantitative Easing and how does it influence the US Dollar? In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar. What is Quantitative Tightening and how does it influence the US Dollar? Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.

11:02 NZD/USD Price Forecast: Breaks above 0.6000, next barrier appears near six-month highs
The NZD/USD pair extends its winning streak that began on April 9, trading around 0.6010 during early European trading hours on Thursday. Technical indicators on the daily chart point to a bullish bias, with the pair holding above the nine-day Exponential Moving Average (EMA).

10:06 Forex Today: US Dollar selloff resumes after Good Friday, Gold renews record high
Here is what you need to know on Monday, April 21:

10:02 US Dollar Index slumps below 98.50 on trade war woes
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, falls to near 98.30, the lowest since March 2022.

09:43 India Gold price today: Gold resumes uptrend on Easter Monday
Gold prices returned to the green zone in India on Eaaster Monday, tracking the renewed record-setting rally in its Comex counterpart.

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The relentless US Dollar (USD) sell-off remains the primary reason for the buying resurgence in the USD-denominated Gold price on Comex. The USD remains heavy against its major currency rivals due to increased risks to US Federal Reserve's (Fed) independence and mounting recession fears, fuelled by the US-China trade war escalation. Gold price edges up to 9,280.92 Indian Rupees (INR) per gram, as of writing, following Friday's close of of INR 9,109.97, according to data compiled by FXStreet. Gold price advances to INR 108,249.90 per tola from INR 106,256.90 per tola on Friday. Unit measure Gold Price in INR 1 Gram 9,280.92 10 Grams 92,809.48 Tola 108,249.90 Troy Ounce 288,687.80 Global Market Movers: Gold price continues to benefit from a combination of supporting factors Investors remain worried about the potential economic fallout from US President Donald Trump's trade tariffs and the rapidly escalating US-China trade war, pushing the safe-haven Gold price to a fresh all-time peak on Monday. In fact, Trump recently imposed tariffs of up to 145% on certain Chinese goods, with some duties reportedly reaching 245%. In retaliation, China has levied tariffs of 125% on US products. Meanwhile, Trump's aggressive trade policies could hurt the world trade order and trigger a recession in the US. This, in turn, drags the US Dollar to its lowest level since April 2022 and further benefits the precious metal. The USD bulls shrugged off Federal Reserve Chair Jerome Powell's hawkish comments, saying that the central bank is well-positioned to wait for more clarity before making any changes to the policy stance. Furthermore, market participants are still pricing in the possibility that the Fed will resume its rate-cutting cycle in June and lower borrowing costs by a full percentage point by the end of this year. This turns out to be another factor that contributes to driving flows towards the non-yielding yellow metal, amid thin trading conditions on the back of the Easter Monday holiday and despite overbought conditions on the daily chart. Iran and the US agreed on Saturday to commence expert-level discussions to design a framework for a potential nuclear deal. Moreover, Russian President Vladimir Putin's one-day ceasefire in Ukraine on Saturday sparked hopes that tensions could de-escalate. This, however, does little to boost investors' confidence or dent demand for traditional safe-haven assets, supporting prospects for a further appreciation for the XAU/USD pair. There isn't any relevant market-moving economic data due for release from the US on Monday, though a scheduled speech from Chicago Fed President Austan Goolsbee might influence the USD. Apart from this, trade-related developments should provide some impetus to the commodity. The market focus will then shift to the release of flash PMIs on Wednesday, which should offer a fresh insight into the global economic health. FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly. Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets? Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on? The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up. (An automation tool was used in creating this post.)

08:54 GBP/JPY Price Forecast: Bearish outlook remains in play below 188.50
The GBP/JPY cross weakens to near 188.45 during the early European session on Monday. The ongoing uncertainty over US President Donald Trump's trade tariffs continues to weigh on investors' sentiment, which boosts safe-haven currencies like the Japanese Yen (JPY).

08:46 EUR/GBP rises above 0.8600, traders focus on US-UK trade talks
EUR/GBP extends its gains for the second successive session, trading around 0.8600 during the Asian hours on Monday.

08:03 Silver Price Forecast: XAG/USD bulls might await move beyond $33.00 before placing fresh bets
Silver (XAG/USD) attracts some dip-buyers at the start of a new week and touches an intraday high, around the $32.80 region during the Asian session.

07:54 EU mulls tweaking methane rules for US gas to help trade talks – Reuters
Citing three sources familiar with the matter, Reuters reported on Monday that the European Union (EU) is contemplating options to alter its methane emissions rules, making it easier for the United States (US) to comply with its gas exports.

Citing three sources familiar with the matter, Reuters reported on Monday that the European Union (EU) is contemplating options to alter its methane emissions rules, making it easier for the United States (US) to comply with its gas exports.Key takeawaysAs part of the energy options being explored to aid trade talks with the US, the Commission is looking at using flexibilities in how it applies EU methane rules, which could benefit U.S. LNG exporters.The aim would be to avoid weakening the overall law, while introducing technical rules that could enable US exporters to be deemed to be following "equivalent" methane rules to those of the EU, and therefore automatically comply with the EU law.Its worth nothing that the US is already the EU's biggest supplier of LNG, having ramped up deliveries as Europe raced to replace Russian gas following Russia's 2022 invasion of Ukraine.

07:45 EUR/JPY gathers strength above 162.00 amid trade-related uncertainty
The EUR/JPY cross trades in positive territory for the fourth consecutive day near 162.20 during the Asian trading hours on Monday. The Euro (EUR) strengthens against the Japanese Yen (JPY) amid encouraging signals of trade talks between the US and the European Union.

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EU considers tweaking methane rules for US gas to help trade talks, Reuters said. Rising expectations of a BoJ rate hike might boost the JPY and cap the upside for the cross. The EUR/JPY cross trades in positive territory for the fourth consecutive day near 162.20 during the Asian trading hours on Monday. The Euro (EUR) strengthens against the Japanese Yen (JPY) amid encouraging signals of trade talks between the US and the European Union. US President Donald Trump's trade war remains a source of deep uncertainty. However, the European Commission is working on its offer for trade talks with the US to attempt to avoid Trump's planned tariffs, with both sides signaling that energy could form part of a broader trade deal. The optimism surrounding trade negotiation could provide some support to the shared currency against the JPY in the near term. The upside for the Euro might be limited due to the dovish stance of the European Central Bank (ECB). The ECB decided to cut its main interest rate by a quarter of a percentage point to 2.25% at its April meeting last week. ECB President Christine Lagarde said during the press conference that US tariffs on EU goods, which had increased from an average of 3% to 13%, were already harming the outlook for the European economy. On the other hand, the rising speculation that the Bank of Japan (BoJ) will continue raising interest rates could lift the JPY and act as a headwind for EUR/JPY. BoJ Governor Kazuo Ueda said last week that Japan's real interest rates remain very low and that the BoJ is expected to keep raising interest rates if the economy and prices move in line with projections. The view was further echoed by BoJ board member Junko Nagakawa. Euro FAQs What is the Euro? The Euro is the currency for the 19 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%). What is the ECB and how does it impact the Euro? The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde. How does inflation data impact the value of the Euro? Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money. How does economic data influence the value of the Euro? Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy. How does the Trade Balance impact the Euro? Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

07:39 Gold price continues scaling new record highs amid trade jitters, bearish USD
Gold price (XAU/USD) regains strong positive traction following Friday's modest downtick and climbs to a fresh all-time peak, closer to the $3,400 mark at the start of a new week.

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Trade war concerns continue to fuel recession fears and weigh on investors' sentiment, which is evident from a weaker tone around the equity markets and driving flows towards the traditional safe-haven precious metal. Apart from this, the prevalent US Dollar (USD) selling bias is seen as another factor benefiting the commodity.US President Donald Trump’s back-and-forth tariff announcements have dented investors' confidence in the US economy. This, to a larger extent, overshadowed Federal Reserve (Fed) Chair Jerome Powell's relatively hawkish comments last week and dragged the USD to a fresh two-year low, which provides an additional boost to the Gold price. Bulls, meanwhile, seem rather unaffected by overstretched conditions on the daily chart, suggesting that the path of least resistance for the XAU/USD is to the upside. Daily Digest Market Movers: Gold price remains well supported by the global rush to safety amid rising trade tensionsInvestors remain worried about the potential economic fallout from US President Donald Trump's trade tariffs and the rapidly escalating US-China trade war, pushing the safe-haven Gold price to a fresh all-time peak on Monday. In fact, Trump recently imposed tariffs of up to 145% on certain Chinese goods, with some duties reportedly reaching 245%. In retaliation, China has levied tariffs of 125% on US products.Meanwhile, Trump's aggressive trade policies could hurt the world trade order and trigger a recession in the US. This, in turn, drags the US Dollar to its lowest level since April 2022 and further benefits the precious metal. The USD bulls shrugged off Federal Reserve Chair Jerome Powell's hawkish comments, saying that the central bank is well-positioned to wait for more clarity before making any changes to the policy stance. Furthermore, market participants are still pricing in the possibility that the Fed will resume its rate-cutting cycle in June and lower borrowing costs by a full percentage point by the end of this year. This turns out to be another factor that contributes to driving flows towards the non-yielding yellow metal, amid thin trading conditions on the back of the Easter Monday holiday and despite overbought conditions on the daily chart. Iran and the US agreed on Saturday to commence expert-level discussions to design a framework for a potential nuclear deal. Moreover, Russian President Vladimir Putin's one-day ceasefire in Ukraine on Saturday sparked hopes that tensions could de-escalate. This, however, does little to boost investors' confidence or dent demand for traditional safe-haven assets, supporting prospects for a further appreciation for the XAU/USD pair. There isn't any relevant market-moving economic data due for release from the US on Monday, though a scheduled speech from Chicago Fed President Austan Goolsbee might influence the USD. Apart from this, trade-related developments should provide some impetus to the commodity. The market focus will then shift to the release of flash PMIs on Wednesday, which should offer a fresh insight into the global economic health.Gold price needs to consolidate before the next leg up amid overbought daily RSI; bullish potential seems intactFrom a technical perspective, the relentless buying validates the near-term positive outlook for the Gold price. However, the daily Relative Strength Index (RSI) is holding well above the 70 mark and might force bullish traders to pause for a breather. Hence, it will be prudent to wait for some near-term consolidation or a modest pullback before positioning for an extension of a multi-month-old uptrend.In the meantime, any corrective slide might now find some support near the $3,350 zone. This is followed by the Asian session low, around the $3,329-3,328 region, below which the Gold price could accelerate the fall towards the $3,300 round figure en route to Friday's swing low, around the $3,284 area. The latter should act as a key pivotal point, which if broken decisively could pave the way for deeper losses. Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets? Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on? The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.

07:37 GBP/USD Price Forecast: Rises toward 1.3400 barrier near seven-month highs
The GBP/USD pair continues its winning streak that began on April 8, trading around 1.3370 during the Asian hours on Monday. Daily chart technical analysis points to a continued bullish trend, with the pair advancing within an ascending channel pattern.

07:19 Indonesia Trade Balance came in at $4.33B, above expectations ($2.64B) in March
Indonesia Trade Balance came in at $4.33B, above expectations ($2.64B) in March

07:18 Indonesia Imports came in at 5.34%, below expectations (6.6%) in March
Indonesia Imports came in at 5.34%, below expectations (6.6%) in March

07:08 Indonesia Exports above forecasts (-3.4%) in March: Actual (3.16%)
Indonesia Exports above forecasts (-3.4%) in March: Actual (3.16%)

06:49 USD/CHF breaks below 0.8100 near 14-year lows due to rising US economic concerns
The USD/CHF pair dropped to 0.8069 during Monday's Asian session, marking its lowest level since September 2011, and is trading around 0.8090. The US Dollar (USD) remains under pressure, weighed down by growing fears of economic fallout from the recently imposed US tariffs.

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The US Dollar (USD) remains under pressure, weighed down by growing fears of economic fallout from the recently imposed US tariffs.The US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, has fallen over 1% to around 98.30—its weakest level since April 2022. Adding to the pressure, the yield on 2-year US Treasury bonds slid more than 1%, now hovering at 3.75%, reflecting investor caution.Federal Reserve (Fed) Chair Jerome Powell has warned that the combination of a slowing economy and persistent inflation could challenge the Fed’s goals and heighten the risk of stagflation. Political tension adds another layer of uncertainty, with reports on Thursday indicating President Trump’s growing dissatisfaction with Powell, reportedly even considering his removal. While markets showed little initial reaction, White House economic adviser Kevin Hassett confirmed that the option is being explored.Swiss markets are closed for the Easter Monday holiday. However, the Swiss Franc (CHF) has strengthened as rising US-China trade tensions increase recession fears and drive demand for safe-haven assets. Meanwhile, President Trump has exempted key tech products—many manufactured in China—from proposed reciprocal tariffs.Despite this, tensions persist. The White House has imposed new tariffs on Chinese ships docking at US ports, potentially disrupting global shipping lanes. Still, Trump struck a more conciliatory tone late Thursday, noting that China had made several concessions and expressed optimism about reaching a trade deal within three to four weeks. “I don't want to go higher on China tariffs,” he said. “If China tariffs go higher, people won't buy.” Swiss Franc FAQs What key factors drive the Swiss Franc? The Swiss Franc (CHF) is Switzerland’s official currency. It is among the top ten most traded currencies globally, reaching volumes that well exceed the size of the Swiss economy. Its value is determined by the broad market sentiment, the country’s economic health or action taken by the Swiss National Bank (SNB), among other factors. Between 2011 and 2015, the Swiss Franc was pegged to the Euro (EUR). The peg was abruptly removed, resulting in a more than 20% increase in the Franc’s value, causing a turmoil in markets. Even though the peg isn’t in force anymore, CHF fortunes tend to be highly correlated with the Euro ones due to the high dependency of the Swiss economy on the neighboring Eurozone. Why is the Swiss Franc considered a safe-haven currency? The Swiss Franc (CHF) is considered a safe-haven asset, or a currency that investors tend to buy in times of market stress. This is due to the perceived status of Switzerland in the world: a stable economy, a strong export sector, big central bank reserves or a longstanding political stance towards neutrality in global conflicts make the country’s currency a good choice for investors fleeing from risks. Turbulent times are likely to strengthen CHF value against other currencies that are seen as more risky to invest in. How do decisions of the Swiss National Bank impact the Swiss Franc? The Swiss National Bank (SNB) meets four times a year – once every quarter, less than other major central banks – to decide on monetary policy. The bank aims for an annual inflation rate of less than 2%. When inflation is above target or forecasted to be above target in the foreseeable future, the bank will attempt to tame price growth by raising its policy rate. Higher interest rates are generally positive for the Swiss Franc (CHF) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken CHF. How does economic data influence the value of the Swiss Franc? Macroeconomic data releases in Switzerland are key to assessing the state of the economy and can impact the Swiss Franc’s (CHF) valuation. The Swiss economy is broadly stable, but any sudden change in economic growth, inflation, current account or the central bank’s currency reserves have the potential to trigger moves in CHF. Generally, high economic growth, low unemployment and high confidence are good for CHF. Conversely, if economic data points to weakening momentum, CHF is likely to depreciate. How does the Eurozone monetary policy affect the Swiss Franc? As a small and open economy, Switzerland is heavily dependent on the health of the neighboring Eurozone economies. The broader European Union is Switzerland’s main economic partner and a key political ally, so macroeconomic and monetary policy stability in the Eurozone is essential for Switzerland and, thus, for the Swiss Franc (CHF). With such dependency, some models suggest that the correlation between the fortunes of the Euro (EUR) and the CHF is more than 90%, or close to perfect.

06:48 FX option expiries for Apr 21 NY cut
FX option expiries for Apr 21 NY cut at 10:00 Eastern Time via DTCC can be found below.

FX option expiries for Apr 21 NY cut at 10:00 Eastern Time via DTCC can be found below.EUR/USD: EUR amounts1.1300 755mUSD/JPY: USD amounts 140.00 645m

06:11 USD/CAD falls to near 1.3800, downside seems limited due to weaker Oil prices
USD/CAD depreciates after registering gains in the previous session, trading around a six-month low at 1.3802 during the Asian hours on Monday. The pair faces headwinds due to the weaker US Dollar (USD), remaining under pressure due to mounting concerns over the US economic fallout from US tariffs.

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The pair faces headwinds due to the weaker US Dollar (USD), remaining under pressure due to mounting concerns over the US economic fallout from US tariffs.The US Dollar Index (DXY), which measures the USD against a basket of six major currencies, dropped over 0.50%, trading around 98.50, its lowest level since April 2022, at the time of writing. The Greenback faces headwinds as the 2-year yield on US Treasury bonds has depreciated by more than 1%, standing at 3.75%.Federal Reserve (Fed) Chair Jerome Powell warned that a sluggish economy paired with persistent inflation could challenge the Fed’s objectives and raise the risk of stagflation. In political developments, reports on Thursday suggested President Trump’s frustration with Fed Chair Powell, even considering his removal. Although markets showed little immediate reaction, White House economic adviser Kevin Hassett confirmed that Trump is exploring the possibility.However, the downside of the USD/CAD pair may be limited, as the commodity-linked Canadian Dollar (CAD) could come under pressure from declining crude Oil prices. West Texas Intermediate (WTI) Oil is down over 1%, trading around $62.80 per barrel at the time of writing.Crude Oil prices weakened following progress in nuclear negotiations between the United States (US) and Iran, easing concerns that geopolitical tensions would disrupt supply from the major Middle Eastern producer. According to Iran's foreign minister, both countries agreed on Saturday to start drafting a framework for a potential nuclear deal, with a US official describing the talks as showing “very good progress,” as reported by Reuters. Canadian Dollar FAQs What key factors drive the Canadian Dollar? The key factors driving the Canadian Dollar (CAD) are the level of interest rates set by the Bank of Canada (BoC), the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports. Other factors include market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar. How do the decisions of the Bank of Canada impact the Canadian Dollar? The Bank of Canada (BoC) has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another. This influences the level of interest rates for everyone. The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down. Relatively higher interest rates tend to be positive for the CAD. The Bank of Canada can also use quantitative easing and tightening to influence credit conditions, with the former CAD-negative and the latter CAD-positive. How does the price of Oil impact the Canadian Dollar? The price of Oil is a key factor impacting the value of the Canadian Dollar. Petroleum is Canada’s biggest export, so Oil price tends to have an immediate impact on the CAD value. Generally, if Oil price rises CAD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Oil falls. Higher Oil prices also tend to result in a greater likelihood of a positive Trade Balance, which is also supportive of the CAD. How does inflation data impact the value of the Canadian Dollar? While inflation had always traditionally been thought of as a negative factor for a currency since it lowers the value of money, the opposite has actually been the case in modern times with the relaxation of cross-border capital controls. Higher inflation tends to lead central banks to put up interest rates which attracts more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in Canada’s case is the Canadian Dollar. How does economic data influence the value of the Canadian Dollar? Macroeconomic data releases gauge the health of the economy and can have an impact on the Canadian Dollar. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the CAD. A strong economy is good for the Canadian Dollar. Not only does it attract more foreign investment but it may encourage the Bank of Canada to put up interest rates, leading to a stronger currency. If economic data is weak, however, the CAD is likely to fall.

06:06 WTI trades with intraday losses below $63.00 amid progress in US-Iran nuclear talks
West Texas Intermediate (WTI) US Crude Oil prices kick off the new week on a weaker note and for now, seems to have snapped a two-day winning streak to a near two-week high – levels just above the $64.00 mark touched on Friday.

05:53 Breaking: EUR/USD rallies hard to reclaim 1.1500 for first time since November 2021
EUR/USD rallies over 1% in Asian trading on Monday as the relentless selling interest in the US Dollar (USD) paves the way for the major to clear the 1.1500 threshold for the first time since November 2021.

EUR/USD rallies over 1% in Asian trading on Monday as the relentless selling interest in the US Dollar (USD) paves the way for the major to clear the 1.1500 threshold for the first time since November 2021.Growing concerns over a US economic recession and the Federal Reserve’s (Fed) independence continue to exert downward pressure on the USD. Meanwhile, a lack of any progress on the trade talks between the US and the European Union (EU) also continues to act as a headwind to the Greenback, keeping the EUR/USD pair underpinned.developing story ....

05:45 USD/INR softens on renewed foreign inflows
The Indian Rupee (INR) edges higher on Monday. The renewed foreign inflows and the US Dollar (USD) weakness continue to support the local currency. Concerns over the economic impact of new tariffs on the US economy dragged the Greenback lower.

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Prospects of foreign equity inflows and a weaker US dollar underpin the INR. Investors brace for India’s HSBC PMI and US S&P Global PMI data due later on Wednesday. The Indian Rupee (INR) edges higher on Monday. The renewed foreign inflows and the US Dollar (USD) weakness continue to support the local currency. Concerns over the economic impact of new tariffs on the US economy dragged the Greenback lower. Investors will closely monitor if US President Donald Trump’s administration reaches new trading agreements with partners. Meanwhile, hawkish remarks from the US Federal Reserve (Fed) have reduced the likelihood of a Fed rate reduction in June, which might lift the USD in the near term. Additionally, markets will watch the Reserve Bank of India (RBI), which seems to be buying the USD to curb the INR rise. The US Richmond Fed Manufacturing Index for April is due on Tuesday. On Wednesday, India’s HSBC Purchasing Managers’ Index (PMI) for April and US S&P Global PMI reports will be the highlights. Indian Rupee trades firmer amid unpredictable US tariffsDr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted that FII inflows and global trends offer support to the INR. “This reversal has been driven by the weakening dollar index and expectations of further dollar softness, which are encouraging FIIs to shift from the US to emerging markets like India,” Vijayakumar said.Moody’s Ratings said the Indian economy could grow in the band of 5.5% to 6.5% during the calendar year 2025, lower than its February projection of 6.6%.San Francisco Fed President Mary Daly said on Friday that while she is still comfortable with a couple of interest rate cuts this year, rising risks of inflation mean the Fed may need to do less, especially given the uncertainty over President Donald Trump's trade policy. Financial markets expect the Fed to resume rate cuts in June and that by year-end the policy rate, currently in the 4.25%-4.50% range, will be a full percentage point lower.USD/INR’s bearish bias lingers under the 100-day EMAThe Indian Rupee trades on a stronger note on the day. The USD/INR pair keeps the bearish vibe on the daily chart, with the price holding below the key 100-day Exponential Moving Average (EMA). The downward momentum is supported by the 14-day Relative Strength Index (RSI), which stands below the midline near 38.10. The key support level for USD/INR emerges in the 85.00-84.95 zone, representing the psychological level and the lower limit of the descending trend channel. A breach of this level could expose 84.53, the low of December 6, 2024. Further south, the next downside target to watch is 84.22, the low of November 25, 2024. On the bright side, the first upside barrier is located at 85.87, the 100-day EMA. Any follow-through buying above the mentioned level could see a rally to 86.55, the upper boundary of the trend channel. The additional upside filter to watch is 86.71, the high of April 9. Indian Rupee FAQs What are the key factors driving the Indian Rupee? The Indian Rupee (INR) is one of the most sensitive currencies to external factors. The price of Crude Oil (the country is highly dependent on imported Oil), the value of the US Dollar – most trade is conducted in USD – and the level of foreign investment, are all influential. Direct intervention by the Reserve Bank of India (RBI) in FX markets to keep the exchange rate stable, as well as the level of interest rates set by the RBI, are further major influencing factors on the Rupee. How do the decisions of the Reserve Bank of India impact the Indian Rupee? The Reserve Bank of India (RBI) actively intervenes in forex markets to maintain a stable exchange rate, to help facilitate trade. In addition, the RBI tries to maintain the inflation rate at its 4% target by adjusting interest rates. Higher interest rates usually strengthen the Rupee. This is due to the role of the ‘carry trade’ in which investors borrow in countries with lower interest rates so as to place their money in countries’ offering relatively higher interest rates and profit from the difference. What macroeconomic factors influence the value of the Indian Rupee? Macroeconomic factors that influence the value of the Rupee include inflation, interest rates, the economic growth rate (GDP), the balance of trade, and inflows from foreign investment. A higher growth rate can lead to more overseas investment, pushing up demand for the Rupee. A less negative balance of trade will eventually lead to a stronger Rupee. Higher interest rates, especially real rates (interest rates less inflation) are also positive for the Rupee. A risk-on environment can lead to greater inflows of Foreign Direct and Indirect Investment (FDI and FII), which also benefit the Rupee. How does inflation impact the Indian Rupee? Higher inflation, particularly, if it is comparatively higher than India’s peers, is generally negative for the currency as it reflects devaluation through oversupply. Inflation also increases the cost of exports, leading to more Rupees being sold to purchase foreign imports, which is Rupee-negative. At the same time, higher inflation usually leads to the Reserve Bank of India (RBI) raising interest rates and this can be positive for the Rupee, due to increased demand from international investors. The opposite effect is true of lower inflation.

05:31 Japanese Yen rallies to fresh high since September 2024 against a broadly weaker USD
The Japanese Yen (JPY) kicks off the new week on a positive note and strengthens to its highest level since September against a broadly weaker US Dollar (USD) during the Asian session.

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}The Japanese Yen continues to attract safe-haven flows amid trade-related uncertainties. The divergent BoJ-Fed policy expectations also contribute to the USD/JPY pair’s decline. Slightly overstretched conditions on the daily chart warrant some caution for the JPY bulls. The Japanese Yen (JPY) kicks off the new week on a positive note and strengthens to its highest level since September against a broadly weaker US Dollar (USD) during the Asian session. The optimism over US-Japan trade talks and the underlying bearish sentiment surrounding the global financial markets continue to drive flows towards the safe-haven JPY. Furthermore, data released on Friday showed that Japan's core inflation accelerated in March and left the door open for more interest rate hikes by the Bank of Japan (BoJ), which is seen as another factor underpinning the JPY.The JPY bulls, meanwhile, seem rather unaffected by reports that the BoJ will cut its growth estimates amid concerns about the potential economic fallout from US President Donald Trump's steep tariffs. The USD, on the other hand, sinks to a fresh two-year low as the uncertainty about Trump's trade policies has dented investors' confidence in the US economic growth. Even Federal Reserve (Fed) Chair Jerome Powell's relatively hawkish comments on Friday did little to impress the USD bulls, suggesting that the path of least resistance for the USD/JPY pair remains to the downside. Japanese Yen is underpinned by a combination of supporting factors; seems poised to appreciate furtherConcerns about US President Donald Trump’s back-and-forth tariff announcements continue to weigh on investors' sentiment and underpin demand for traditional safe-haven assets, including the Japanese Yen.The new US ambassador to Japan said on Friday that he is optimistic about a deal in the ongoing US-Japan tariff negotiations. Moreover, Japan's Prime Minister Shigeru Ishiba said on Sunday that he wants to make the ongoing Japan-US tariff talks a model for negotiations between the US and other countries.Ishiba added that Japan seeks fairness in currency talks with the US and suggested flexibility on US accusations of non-tariff barriers to the Japanese automobile market. This continues to fuel hopes that Japan might strike a trade deal with the US and turns out to be another factor driving flows toward the JPY. Bank of Japan Governor Kazuo Ueda last week signaled the potential to pause the rate-hiking cycle and said that the central bank may need to take policy action if US tariffs hurt the Japanese economy. Moreover, reports suggest that the BoJ will cut its growth forecasts amid heightened risks to the fragile economic recovery. However, BoJ Governor Kazuo Ueda said that Japan's real interest rates remain very low and that the central bank is expected to keep raising interest rates if the economy and prices move in line with projections. The view was further echoed by BoJ board member Junko Nagakawa.Adding to this, government data released on Friday showed that Japan's core Consumer Price Index (CPI), which excludes fresh food prices, accelerated to the 3.2% YoY rate in March from a 3% gain in the previous month. Furthermore, core-core inflation, which excludes both fresh food and energy, rose 2.9% vs 2.6% in February.This points to broadening inflation in Japan and leaves the door open for more rate hikes by the BoJ. In contrast, traders largely shrugged off Federal Reserve Chair Jerome Powell's relatively hawkish comments last Wednesday and seem convinced that the US central bank will resume its rate-cutting cycle in June.Meanwhile, the recent sell-off in the US bond market suggests that investors are losing confidence in the US economy. This further contributes to the ongoing US Dollar downfall to its lowest level since April 2022 and drags the USD/JPY pair below the 141.00 mark for the first time since September 2024. USD/JPY needs to consolidate before the next leg down amid a slightly oversold RSI on the daily chartFrom a technical perspective, the daily Relative Strength Index (RSI) is already flashing slightly oversold conditions and warrants some caution for bearish traders. Hence, it will be prudent to wait for some near-term consolidation or a modest bounce before positioning for an extension of the USD/JPY pair's well-established downtrend witnessed over the past three months or so. In the meantime, attempted recovery might now confront some resistance near the 141.60-141.65 region. This is followed by the 142.00 round figure and the 142.40-142.45 hurdle, above which a fresh bout of a short-covering move could lift the USD/JPY pair to the 143.00 mark en route to the 143.25-143.30 zone. Any further move up, however, might still be seen as a selling opportunity. On the flip side, a sustained break and acceptance below the 141.00 mark could be seen as a fresh trigger for bearish traders and make the USD/JPY pair vulnerable. The subsequent downfall could drag spot prices to the 140.45-140.40 intermediate support en route to the 140.00 psychological mark. The downward trajectory could extend to the 2024 yearly swing low, around the 139.60-139.55 region. Japanese Yen FAQs What key factors drive the Japanese Yen? The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors. How do the decisions of the Bank of Japan impact the Japanese Yen? One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen. How does the differential between Japanese and US bond yields impact the Japanese Yen? Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential. How does broader risk sentiment impact the Japanese Yen? The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen’s value against other currencies seen as more risky to invest in.

05:31 Australian Dollar holds ground following the PBoC interest rate decision
The Australian Dollar (AUD) recovers its losses from the previous session against the US Dollar (USD) on Monday.

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span{text-decoration:underline}.fxs-event-module-release{margin:0;display:flex;flex-direction:column;gap:2px}.fxs-event-module-release>p{font-size:12.8px;font-family:Roboto;font-style:normal;line-height:17px;margin:0}.fxs-event-module-release>p>strong{color:#8c8d91;font-weight:700}.fxs-event-module-release>p>span{color:#8c8d91;font-weight:400}.fxs-event-module-release>p>a{color:#e4871b;font-weight:700;text-decoration:none}.fxs-event-module-release>p>a:hover>span{text-decoration:underline}.fxs-event-module-inner-calendar .fxs-event-module-container{margin:16px 0 0 0;border-top:1px solid #ececf1;padding:12px 0 0 0}@media (min-width:680px){.fxs-event-module-inner-calendar .fxs-event-module-header{font-size:14.72px;line-height:20px}.fxs-event-module-release p{font-size:14.72px;line-height:20px}.fxs-event-module-read-more{font-size:14.72px;line-height:20px}.fxs-event-module-calendar-title{font-size:22.4px;line-height:25.6px}.fxs-event-module-title{font-size:19.2px;line-height:27.2px}.fxs-event-module-header{font-size:19.2px;line-height:25.92px}.fxs-event-module-content{font-size:16px;line-height:21.6px}}The Australian Dollar maintains its position after PBoC left its one- and five-year LPRs unchanged at 3.10% and 3.60%, respectively.The AUD advanced as US Dollar softened, weighed down by rising concerns over the economic impact of new US tariffs.Trade tensions escalated further after the White House imposed tariffs on Chinese vessels docking at US ports.The Australian Dollar (AUD) recovers its losses from the previous session against the US Dollar (USD) on Monday. The AUD/USD pair held firm following the People's Bank of China’s (PBoC) decision to keep its Loan Prime Rates unchanged, maintaining the one-year rate at 3.10% and the five-year rate at 3.60%.The AUD/USD pair gained support as the USD weakened amid growing concerns over the economic fallout from US tariffs. The AUD was further buoyed after US President Donald Trump announced exemptions for key technology products — many of which are made in China, Australia’s top trading partner and a major consumer of its commodity exports — from the proposed “reciprocal” tariffs. Nonetheless, tensions remained as the White House imposed tariffs on Chinese ships docking at US ports, risking disruption to global shipping routes. However, late Thursday, Trump noted that China had made several overtures and stated, “I don't want to go higher on China tariffs. If China tariffs go higher, people won't buy.” He also expressed optimism that a trade deal could be reached within three to four weeks.Australian Dollar appreciates as US Dollar struggles amid decline in 2-year Treasury yieldThe US Dollar Index (DXY), which measures the USD against a basket of six major currencies, dropped over 0.50%, trading around 98.50, its lowest level since April 2022, at the time of writing. The Greenback faces headwinds as the 2-year yield on US Treasury bonds has depreciated by more than 1%, standing at 3.75%.Federal Reserve (Fed) Chair Jerome Powell warned that a sluggish economy paired with persistent inflation could challenge the Fed’s objectives and raise the risk of stagflation. In political developments, reports on Thursday suggested President Trump’s frustration with Fed Chair Powell, even considering his removal. Although markets showed little immediate reaction, White House economic adviser Kevin Hassett confirmed that Trump is exploring the possibility.The US Department of Labor reported on Thursday that Initial Jobless Claims fell to 215,000 for the week ending April 12, below expectations and down from the previous week's revised figure of 224,000 (originally 223,000). However, Continuing Jobless Claims rose by 41,000 to 1.885 million for the week ending April 5.The US Consumer Price Index (CPI) inflation eased to 2.4% year-over-year in March, down from 2.8% in February and below the market forecast of 2.6%. Core CPI, which excludes food and energy prices, rose 2.8% annually, compared to 3.1% previously and missing the 3.0% estimate. On a monthly basis, headline CPI dipped by 0.1%, while core CPI edged up by 0.1%.Australia’s Unemployment Rate rose to 4.1% in March, slightly below the market forecast of 4.2%. Meanwhile, Employment Change came in at 32.2K, against the consensus forecast of 40K.Australia’s Westpac Leading Index’s six-month annualised growth rate, which forecasts economic momentum relative to the trend over the next three to nine months, eased to 0.6% in March from 0.9% in February.Reserve Bank of Australia's (RBA) March 31–April 1 Meeting Minutes indicated ongoing uncertainty around the timing of the next interest rate adjustment. Although the Board considered the May meeting a suitable point to review monetary policy, it stressed that no decisions had been made in advance. The Board also pointed to both upside and downside risks facing Australia's economy and inflation trajectory.China’s economy grew at an annual rate of 5.4% in the first quarter of 2025, matching the pace seen in Q4 2024 and surpassing market expectations of 5.1%. On a quarterly basis, GDP rose by 1.2% in Q1, following a 1.6% increase in the previous quarter, falling short of the forecasted 1.4% gain.Meanwhile, China’s Retail Sales surged 5.9% year-over-year, beating expectations of 4.2% and up from February’s 4%. Industrial Production also outperformed, rising 7.7% compared to the 5.6% forecast and February’s 5.9% print.Australian Dollar remains below 0.6400 level despite a persistent upward biasThe AUD/USD pair is trading near 0.6390 on Monday, with technical indicators on the daily chart suggesting a bullish outlook. The pair remains above the nine-day Exponential Moving Average (EMA), while the 14-day Relative Strength Index (RSI) stays above the neutral 50 level—both pointing to sustained upward momentum. On the upside, immediate resistance is seen at the psychological 0.6400 mark, followed by the four-month high of 0.6408, last tested on February 21. A decisive break above this zone could pave the way for a move toward the five-month high at 0.6515.The initial support is located at the nine-day EMA around 0.6325, with further downside protection near the 50-day EMA at 0.6286. A break below these levels may undermine the short-term bullish bias and expose the AUD/USD pair to deeper losses toward the 0.5914 area—its lowest level since March 2020. AUD/USD: Daily Chart Australian Dollar PRICE Today The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the strongest against the US Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -1.03% -0.59% -1.05% -0.32% -0.29% -0.80% -1.09% EUR 1.03% 0.30% 0.02% 0.68% 0.55% 0.21% -0.08% GBP 0.59% -0.30% -0.15% 0.39% 0.26% -0.09% -0.38% JPY 1.05% -0.02% 0.15% 0.70% 0.60% 0.33% -0.04% CAD 0.32% -0.68% -0.39% -0.70% -0.09% -0.48% -0.76% AUD 0.29% -0.55% -0.26% -0.60% 0.09% -0.34% -0.64% NZD 0.80% -0.21% 0.09% -0.33% 0.48% 0.34% -0.26% CHF 1.09% 0.08% 0.38% 0.04% 0.76% 0.64% 0.26% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote). Economic Indicator PBoC Interest Rate Decision The People’s Bank of China’s (PBoC) Monetary Policy Committee (MPC) holds scheduled meetings on a quarterly basis. However, China’s benchmark interest rate – the loan prime rate (LPR), a pricing reference for bank lending – is fixed every month. If the PBoC forecasts high inflation (hawkish) it raises interest rates, which is bullish for the Renminbi (CNY). Likewise, if the PBoC sees inflation in the Chinese economy falling (dovish) and cuts or keeps interest rates unchanged, it is bearish for CNY. Still, China’s currency doesn’t have a floating exchange rate determined by markets and its value against the US Dollar is fixed mainly by the PBoC on a daily basis. Read more. Last release: Mon Apr 21, 2025 01:00 Frequency: Irregular Actual: 3.1% Consensus: 3.1% Previous: 3.1% Source: The People's Bank of China

04:24 GBP/USD extends the rally to near 1.3350 on softer US Dollar
The GBP/USD pair extends its upside to near 1.3350 during the early Asian session on Monday.

04:15 PBOC sets USD/CNY reference rate at 7.2055 vs. 7.2069 previous
On Monday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.2055 as compared to Friday's fix of 7.2069.

04:13 NZD/USD holds gains above 0.5950 as PBoC maintains interest rates
NZD/USD continues its winning streak that began on April 9, trading near 0.5970 during Monday’s Asian session. The New Zealand Dollar (NZD) is buoyed by a weaker US Dollar (USD), which is under pressure due to mounting concerns over the US economic fallout from US tariffs.

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The New Zealand Dollar (NZD) is buoyed by a weaker US Dollar (USD), which is under pressure due to mounting concerns over the US economic fallout from US tariffs.The New Zealand Dollar remains stronger following Monday's People's Bank of China’s (PBoC) interest rate decision. The PBoC left its Loan Prime Rates (LPRs) unchanged, keeping the one-year rate at 3.10% and the five-year rate at 3.60%.Sentiment toward the NZD improved after US President Donald Trump announced exemptions for key tech products, mainly manufactured in China, New Zealand’s largest trading partner, from the proposed “reciprocal” tariffs. Meanwhile, the US Dollar Index (DXY) drops over 0.50%, trading around 98.50, its lowest level since April 2022, at the time of writing.Despite the exemptions, the White House has imposed tariffs on Chinese ships docking at US ports, threatening to disrupt global shipping routes and further escalate tensions in the US-China trade conflict.In political developments, reports on Thursday suggested President Trump’s frustration with Federal Reserve (Fed) Chair Jerome Powell, even considering his removal. Although markets showed little immediate reaction, White House economic adviser Kevin Hassett confirmed that Trump is exploring the possibility. Economic Indicator PBoC Interest Rate Decision The People’s Bank of China’s (PBoC) Monetary Policy Committee (MPC) holds scheduled meetings on a quarterly basis. However, China’s benchmark interest rate – the loan prime rate (LPR), a pricing reference for bank lending – is fixed every month. If the PBoC forecasts high inflation (hawkish) it raises interest rates, which is bullish for the Renminbi (CNY). Likewise, if the PBoC sees inflation in the Chinese economy falling (dovish) and cuts or keeps interest rates unchanged, it is bearish for CNY. Still, China’s currency doesn’t have a floating exchange rate determined by markets and its value against the US Dollar is fixed mainly by the PBoC on a daily basis. Read more. Last release: Thu Mar 20, 2025 01:15 Frequency: Irregular Actual: 3.1% Consensus: 3.1% Previous: 3.1% Source: The People's Bank of China

04:05 PBOC leaves Loan Prime Rates unchanged in April
The People’s Bank of China (PBOC), China's central bank, announced to leave its Loan Prime Rates (LPRs) unchanged on Monday. The one-year and five-year LPRs were at 3.10% and 3.60%, respectively.

04:00 China PBoC Interest Rate Decision meets forecasts (3.1%)
China PBoC Interest Rate Decision meets forecasts (3.1%)

03:46 EUR/USD advances to 1.1485 region, fresh high since February 2022 amid bearish USD
The EUR/USD pair breaks out through a multi-day-old trading range and touches a fresh high since February 2022, around the 1.1485 area during the Asian session on Monday.

03:14 Gold Price Forecast: XAU/USD climbs to near $3,350 on uncertainty about Trump's tariff policies
The Gold Price (XAU/USD) drifts higher to near $3,350 during the early Asian session on Monday after facing some profit-taking due to the long weekend. Uncertainty about US President Donald Trump's tariff policies and persistent geopolitical tensions continue to underpin the precious metal.

02:09 AUD/USD edges higher above 0.6350 ahead of PBoC rate decision
The AUD/USD pair trades in positive territory around 0.6380 during the Asian session on Monday, bolstered by the weaker US Dollar (USD). Traders await the developments surrounding the United States and China trade discussions, while tensions between the two largest economies are intensifying.

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}AUD/USD gains traction to near 0.6380 in Monday’s early Asian session. Trump exempted key technology products from his new reciprocal tariffs, boosting the Aussie. Traders brace for the PBoC interest rate decision later on Monday, with no change in rate expected. The AUD/USD pair trades in positive territory around 0.6380 during the Asian session on Monday, bolstered by the weaker US Dollar (USD). Traders await the developments surrounding the United States and China trade discussions, while tensions between the two largest economies are intensifying.The Australian Dollar (AUD) edges higher against the Greenback after US President Donald Trump announced exemptions for key technology products from the newly proposed “reciprocal” tariffs. These exemptions, which include smartphones, laptops, semiconductors, solar cells, and flat-panel displays, mostly benefit products manufactured in China, Australia's biggest trade partner and a major buyer of its commodity exports.On the other hand, uncertainty lingers around the timing of the Reserve Bank of Australia's (RBA) next rate cut, as trade tariff risks dampen the economic outlook. Markets are currently pricing in a 25 basis points (bps) cut in May and around 120 bps of total easing over the year. The dovish bets of the RBA could drag the Aussie lower against the USD in the near term. Later on Monday, the People's Bank of China (PBOC) is widely expected to leave its benchmark lending rates unchanged at the monthly fixing, a Reuters survey showed, but markets are wagering on more stimulus being rolled out soon in the face of an escalating US-China trade war. Australian Dollar FAQs What key factors drive the Australian Dollar? One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – is also a factor, with risk-on positive for AUD. How do the decisions of the Reserve Bank of Australia impact the Australian Dollar? The Reserve Bank of Australia (RBA) influences the Australian Dollar (AUD) by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down. Relatively high interest rates compared to other major central banks support the AUD, and the opposite for relatively low. The RBA can also use quantitative easing and tightening to influence credit conditions, with the former AUD-negative and the latter AUD-positive. How does the health of the Chinese Economy impact the Australian Dollar? China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar (AUD). When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected. Positive or negative surprises in Chinese growth data, therefore, often have a direct impact on the Australian Dollar and its pairs. How does the price of Iron Ore impact the Australian Dollar? Iron Ore is Australia’s largest export, accounting for $118 billion a year according to data from 2021, with China as its primary destination. The price of Iron Ore, therefore, can be a driver of the Australian Dollar. Generally, if the price of Iron Ore rises, AUD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Iron Ore falls. Higher Iron Ore prices also tend to result in a greater likelihood of a positive Trade Balance for Australia, which is also positive of the AUD. How does the Trade Balance impact the Australian Dollar? The Trade Balance, which is the difference between what a country earns from its exports versus what it pays for its imports, is another factor that can influence the value of the Australian Dollar. If Australia produces highly sought after exports, then its currency will gain in value purely from the surplus demand created from foreign buyers seeking to purchase its exports versus what it spends to purchase imports. Therefore, a positive net Trade Balance strengthens the AUD, with the opposite effect if the Trade Balance is negative.

00:23 Australia National Australia Bank's Business Confidence (QoQ): -4 (1Q)
Australia National Australia Bank's Business Confidence (QoQ): -4 (1Q)

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14:21 Gold extends its bull run on weak US Dollar, trade tensions Gold price (XAU/USD) refreshes all-time highs to near $3,400 at the start of the week.

12:44 USD/CNY: Strong Q1 GDP growth, but challenges exist – MUFG Macro data released last week showed the government policy support has been generating positive impact on the economy. China’s Q1 GDP delivered a strong growth of 5.4%yoy, above market expectations of 5.2%yoy.

12:41 US and China: who will make the first move? – MUFG The past week continued to bring a lack of clarity on tariffs, including on how and whether the US and China will eventually come to the table to at least start to negotiate.

12:31 USD weakness in focus this week – DBS The USD’s weakness will likely be a key topic at the G20 Finance Ministers and Central Bank Governor Meeting on April 23-24 in Washington D.C., which will be part of the Spring Meetings of the IMF and the World Bank.

12:30 Silver price today: Silver rises, according to FXStreet data Silver prices (XAG/USD) rose on Monday, according to FXStreet data.

12:24 Eurozone: ECB cuts rates by 25 bps again – UOB Group The European Central Bank (ECB) cut interest rates by 25 bps at its 17 April meeting. This is the seventh time since Jun 2025 that the central bank has lowered rates.

11:57 USD/CHF plummets to its lowest level since 2015, below mid-0.8000s amid bearish USD The USD/CHF pair attracts heavy selling at the start of a new week and plummets to levels just below mid-0.8000s, or the lowest since January 2015 during the first half of the European session.

10:06 Forex Today: US Dollar selloff resumes after Good Friday, Gold renews record high Here is what you need to know on Monday, April 21:

10:02 US Dollar Index slumps below 98.50 on trade war woes The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, falls to near 98.30, the lowest since March 2022.

09:43 India Gold price today: Gold resumes uptrend on Easter Monday Gold prices returned to the green zone in India on Eaaster Monday, tracking the renewed record-setting rally in its Comex counterpart.

08:46 EUR/GBP rises above 0.8600, traders focus on US-UK trade talks EUR/GBP extends its gains for the second successive session, trading around 0.8600 during the Asian hours on Monday.

08:03 Silver Price Forecast: XAG/USD bulls might await move beyond $33.00 before placing fresh bets Silver (XAG/USD) attracts some dip-buyers at the start of a new week and touches an intraday high, around the $32.80 region during the Asian session.

07:39 Gold price continues scaling new record highs amid trade jitters, bearish USD Gold price (XAU/USD) regains strong positive traction following Friday's modest downtick and climbs to a fresh all-time peak, closer to the $3,400 mark at the start of a new week.

07:19 Indonesia Trade Balance came in at $4.33B, above expectations ($2.64B) in March Indonesia Trade Balance came in at $4.33B, above expectations ($2.64B) in March

07:18 Indonesia Imports came in at 5.34%, below expectations (6.6%) in March Indonesia Imports came in at 5.34%, below expectations (6.6%) in March

07:08 Indonesia Exports above forecasts (-3.4%) in March: Actual (3.16%) Indonesia Exports above forecasts (-3.4%) in March: Actual (3.16%)

06:48 FX option expiries for Apr 21 NY cut FX option expiries for Apr 21 NY cut at 10:00 Eastern Time via DTCC can be found below.

05:53 Breaking: EUR/USD rallies hard to reclaim 1.1500 for first time since November 2021 EUR/USD rallies over 1% in Asian trading on Monday as the relentless selling interest in the US Dollar (USD) paves the way for the major to clear the 1.1500 threshold for the first time since November 2021.

05:45 USD/INR softens on renewed foreign inflows The Indian Rupee (INR) edges higher on Monday. The renewed foreign inflows and the US Dollar (USD) weakness continue to support the local currency. Concerns over the economic impact of new tariffs on the US economy dragged the Greenback lower.

05:31 Japanese Yen rallies to fresh high since September 2024 against a broadly weaker USD The Japanese Yen (JPY) kicks off the new week on a positive note and strengthens to its highest level since September against a broadly weaker US Dollar (USD) during the Asian session.

05:31 Australian Dollar holds ground following the PBoC interest rate decision The Australian Dollar (AUD) recovers its losses from the previous session against the US Dollar (USD) on Monday.

04:24 GBP/USD extends the rally to near 1.3350 on softer US Dollar The GBP/USD pair extends its upside to near 1.3350 during the early Asian session on Monday.

04:15 PBOC sets USD/CNY reference rate at 7.2055 vs. 7.2069 previous On Monday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.2055 as compared to Friday's fix of 7.2069.

04:05 PBOC leaves Loan Prime Rates unchanged in April The People’s Bank of China (PBOC), China's central bank, announced to leave its Loan Prime Rates (LPRs) unchanged on Monday. The one-year and five-year LPRs were at 3.10% and 3.60%, respectively.

04:00 China PBoC Interest Rate Decision meets forecasts (3.1%) China PBoC Interest Rate Decision meets forecasts (3.1%)

03:46 EUR/USD advances to 1.1485 region, fresh high since February 2022 amid bearish USD The EUR/USD pair breaks out through a multi-day-old trading range and touches a fresh high since February 2022, around the 1.1485 area during the Asian session on Monday.

00:23 Australia National Australia Bank's Business Confidence (QoQ): -4 (1Q) Australia National Australia Bank's Business Confidence (QoQ): -4 (1Q)

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