Forex News
- Gold price rallied over 1% on Monday as the US Dollar and US Treasury yields tumbled sharply amid uncertainty over trade deals, amid an overall risk-on mood on the markets. At the time of writing, the XAU/USD trades at $3,397 after bouncing off daily lows of $3,338.
- The Dow Jones Industrial Average (DJIA) clawed back recent losses on Monday, gaining just enough ground to keep the major equity index camped within near-term congestion.
- The battle between Federal Reserve (Fed) Chair Jerome Powell and the camp of President Donald Trump continues to heat up.
- The Euro (EUR) is edging higher against the Swiss Franc (CHF). On Monday, fundamental dynamics are increasingly shaping the trajectory of EUR/CHF.
- Gold (XAU/USD) is benefiting from renewed trade tensions on Monday, which have triggered demand for the safe-haven yellow metal.
- The US Dollar (USD) kicks off the week on the back foot, slipping against major currencies in Monday trading. Investors are reacting to renewed trade tensions ahead of the August 1 deadline and a generally cautious market sentiment.
- The Bank of Canada (BoC) released triplicate survey reports on Monday, with the Q2 Business Outlook Survey showing less direct tariff impact in Q2 compared to Q1, while the BoC Business Leaders' Pulse showed less export-focused firms expect worst-case tariff scenarios than before.
- The Japanese Yen (JPY) pushes higher against the US Dollar (USD) on Monday as the Greenback softens amid falling US Treasury yields and cautious market sentiment.
- The shared currency remains steady against the British Pound on Monday, ahead of a busy week as traders await the monetary policy decision by the European Central Bank (ECB) and a speech by Bank of England (BoE) Governor Andrew Bailey.
- The Euro (EUR) is easing against the Japanese Yen (JPY) following Japan’s post-election clarity and renewed concerns over stalled EU–US trade negotiations.