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Gold Edges Higher on Iran Talks Optimism, Weaker Oil
Gold (XAU/USD) rose 0.50% on Monday as positive US-Iran talks drove oil prices lower, reducing inflation expectations. The pair bounced from daily lows to trade near $4,179.
NZD/USD Extends Slide to Four-Day Low as Dollar Strengthens
The New Zealand dollar fell for the fourth consecutive day on Monday, hitting its lowest since April 8, driven by broad US dollar strength from a hawkish Fed and fragile US-Iran truce uncertainty.
Malaysia May Inflation Rises to 2.0% YoY, Highest Since July 2024 – UOB
UOB economists note Malaysia's May headline inflation rose to 2.0% year-on-year, the highest since July 2024, driven by Food, Housing, Utilities and Transport. Year-to-date inflation of 1.7% supports their full-year 2.0% forecast.
AUD/USD Stalls Near 0.7300, Awaits Catalyst
The Australian dollar's uptrend from late March has lost momentum near the 0.7300 resistance, with traders now watching for a fresh catalyst to resume the rally.
MUFG: Asian Currencies Set to Gain on Growth Gap, AI Exports
MUFG analyst Michael Wan says stronger regional growth differentials versus the US should support Asian currencies, especially in AI-linked export economies like South Korea, Taiwan, and Malaysia.
AUD/USD Falls Near 0.7000 Ahead of US PCE Data
The Australian dollar slipped against the US dollar, approaching the 0.7000 level, as traders adopt a cautious stance ahead of the release of the US PCE inflation report.
EUR/USD Hovers Near Three-Month Lows Amid Hawkish Fed, Mideast Talks
EUR/USD remains under pressure near three-month lows as expectations of a hawkish Federal Reserve boost the US Dollar, while progress in US-Iran talks reduces safe-haven demand but does not offset USD strength.
USD/SGD Range Trade Supported Around 1.29 – UOB
UOB analysts note USD/SGD remains supported near 1.29 as the Singapore Dollar Nominal Effective Exchange Rate (S$NEER) trades near the top of its band, suggesting the pair will hover close to this level.
British Pound Rises as US-Iran Talks Offset UK Political Shock
The Pound Sterling advanced 0.14% on Monday as US-Iran negotiations laid a "good foundation" after the first round of talks, offsetting domestic political uncertainty.
BNY: Carry Trade Unwinding Signals Potential Recovery
BNY's Geoff Yu notes that iFlow Carry has turned negatively significant for the first time in 2026, indicating ongoing unwinding but also a potential contrarian opportunity.
USD/JPY Retreats from 161.90 Highs, Hits 161.07 on Intervention Watch
The USD/JPY pair fell to 161.07 on Monday, retreating from highs near 161.90, as traders remain alert to possible Japanese intervention after the pair approached four-decade highs.
Nomura: GBP Calm on Starmer Resignation, Focus on Burnham PM Prospects
Nomura's Dominic Bunning notes that the British pound has reacted calmly to Keir Starmer's resignation, with market attention shifting to the likelihood of Andy Burnham becoming Prime Minister and his policy choices.
Silver Rises on US-Iran Diplomatic Progress, Upside Capped by Hawkish Fed
Silver (XAG/USD) edged higher on Monday, snapping a three-day losing streak, as diplomatic progress between the US and Iran boosted investor interest, though gains were limited by a hawkish Federal Reserve outlook.
BoC Holds Steady as Core Inflation Stays Contained Despite Headline Rise
National Bank of Canada analysts note that headline inflation rose to 3.2% in May, but the Bank of Canada remains patient due to contained core inflation. Gasoline and food drove the increase.
Deutsche Bank: Sterling Risk Premium Already Priced In Ahead of UK Leadership Shift
Deutsche Bank notes that markets have largely anticipated a change in UK leadership, leaving the risk premium on sterling already priced in ahead of the Autumn Budget.
Canada Inflation Hits 3.2% in May on Energy, Airfares, Food – RBC
Canadian consumer price inflation rose to 3.2% year-over-year in May, driven by higher energy costs, airfares, and food, according to RBC economist Abbey Xu.
USD/CAD Holds Near April Highs Despite Stronger Canadian CPI
The Canadian Dollar failed to rally on stronger-than-expected inflation data, leaving USD/CAD little changed near 1.4165, its highest since April.
Lagarde: No Evidence of Inflation De-anchoring to Warrant Stronger ECB Action
ECB President Christine Lagarde said Monday that there is no evidence of inflation expectations becoming unanchored, which would require a more aggressive policy response, despite geopolitical uncertainties.
Sterling Vulnerable to Dollar Path – SocGen
Societe Generale's Kit Juckes says UK political change has only modestly weakened GBP, with EUR/GBP expected to rise 1-2% and GBP/USD likely to test 1.30.
ING: Fedspeak and Hormuz Risks to Drive USD This Week
ING analyst Francesco Pesole says Federal Reserve commentary and developments around the Strait of Hormuz will be the main drivers for the US dollar this week, with front-end rates remaining a key focus.
EUR/USD Bounces from 1.1417, Holds Strength After Holiday Weekend
EUR/USD slipped on Friday but rebounded, showing renewed strength after several days of weakness. The bounce from the 1.1417 area was expected and appears to be holding into Monday.
Gold Edges Higher on US-Iran Talks Progress, Fed Rate Hike Bets Cap Gains
Gold (XAU/USD) edged higher on Monday as US and Iran held their first direct talks in Switzerland, but gains were limited by expectations of further Fed rate hikes.
Canada CPI Rises to 3.2% in May, Beating Expectations
Canada's annual inflation rate accelerated to 3.2% in May, exceeding market forecasts and accelerating from April's 2.8% increase.
BNY's Yu: Starmer Resignation, Burnham Appointment Priced Into Pound
BNY's Geoff Yu notes that the resignation of Sir Keir Starmer and the likely appointment of Andy Burnham as UK Prime Minister are already priced into the British Pound.