EUR/USD trims gains, back below 1.1300
EUR/USD gained bullish traction on Monday, climbing above the 1.1300 mark as the US Dollar came under sustained selling pressure. The move followed Moody’s downgrade of the US sovereign credit rating, which added to the pair’s upside momentum.
GBP/USD sticks to daily gains around 1.3360
GBP/USD extended its rally on Monday, briefly surpassing the 1.3400 mark on the back of renewed weakness in the Greenback, which was particulalry exacerbated following Moody’s decision to downgrade the US credit rating by one notch.
Gold meets daily resistance around $3,250
Gold regained momentum on Monday, climbing toward the $3,250 mark per troy ounce in response to a cautious market tone. In fact, investors sought safe-haven assets in response to Moody’s downgrade of the US government’s credit rating and renewed trade concerns.
Stock futures contract after Moody's US debt downgrade Premium
US stocks opened on a sour note on Monday following the fallout late Friday when the Moody's credit rating agency lowered its outlook on US debt from Aaa to Aa1. Moody's had already had the US government on watch for a year and half, so the actual downgrade shouldn't have surprised investors too much.
DEEPER DIVE
Has the tariff pain peaked?
Tariff rates may have peaked, but uncertainty hasn’t: Markets may be breathing easier, but investors should not mistake easing conditions for resolution. Even if headline tariff rates stay put, the real risk lies in prolonged policy unpredictability.
After April turbulence, what comes next?
Having come to the end of April the fact we’ve been able to shrug off most of the large losses seen at the start of the month should be considered as a win. The big question now is whether we can kick on from here, and revisit the highs seen in March, and that remains an unanswered question.
Latin America: How vulnerable is it beyond tariffs?
The vast majority of Latin American countries have been subject to 10% tariffs, the minimum rate, since April 2, imposed by the Trump administration. This leniency is due to the composition of their exports and the fact that most of them have a trade deficit with the US.
CRYPTOCURRENCIES
Ripple faces growing downside risks threatening potential return to $3
Ripple (XRP) price hovers at around $2.31 on Monday, extending its gradual drawdown from last week’s high of $2.65, as the broader cryptocurrency market swings between gains and losses amid shifting investor sentiment.
EOS uptrend falters ahead of token swap despite Vaulta’s DeFi TVL soaring to $246 million
EOS price slides on Monday to approximately $0.75, erasing a minor uptick on Sunday, while extending the drawdown from the May 10 high at around $0.99. The EOS network rebranded to Vaulta in the first quarter, paving the way for a web3 banking platform.
Bitcoin gives up weekend gains, signaling potential bull trap as momentum weakens
Bitcoin dips to around $103,000 on Monday, wiping out Sunday's gains and raising concerns of a short-term correction. Metaplanet adds 1,004 BTC to its treasury, while spot Bitcoin ETFs saw $603.74 million in net inflows last week.
STOCKS
Stock futures contract after Moody's US debt downgrade Premium
US stocks opened on a sour note on Monday following the fallout late Friday when the Moody's credit rating agency lowered its outlook on US debt from Aaa to Aa1.
Nasdaq futures monday playbook: Poc at 21,315 holds the key to a rally or a breakdown
Nasdaq-100 Futures (NQM25) – Weekly Day-Trading Snapshot & Monday Playbook 5-Minute Chart with projected supply and demand zones, H4 Levels, VWAP & Volume Profile 1.
WEEKLY FORECAST
EUR/USD: Sellers reluctant despite a better mood Premium
The EUR/USD pair gapped lower at the weekly opening and fell towards 1.1064 on Monday, as the US Dollar (USD) surged on the back of headlines indicating a de-escalation of trade tensions between the United States (US) and China.
GBP/USD: Pound Sterling consolidates before the next leg higher Premium
The Pound Sterling (GBP) regained its footing against the US Dollar (USD) after the GBP/USD pair exhibited strong two-way price movements within a 150-pip range during the week.
US Dollar: Trade enthusiasm throws a lifeline Premium
The US Dollar (USD) notched a fourth straight weekly gain, extending its steady rebound from the multi-year lows reached in mid-April just below the 98.00 support level reached on April 21.
Gold: Technical pressure builds up as geopolitics remain in spotlight Premium
Gold fell to its lowest level in over a month below $3,200 after starting the week under heavy bearish pressure. In the absence of high-impact data releases, geopolitical headlines could continue to influence Gold’s valuation in the near term.
Bitcoin: BTC stabilizes near $103,000 amid trade optimism, rising institutional demand
Bitcoin (BTC) price stabilizes at around $103,000 when writing on Friday, after facing multiple rejections at the key $105,000 resistance level throughout the week.
Week ahead – Fed speakers, RBA decision, UK CPI and preliminary PMIs in focus
Strong dollar awaits Fed speakers and PMIs. RBA to cut by 25bps, focus to fall on forward guidance. Sticky UK inflation could mean only one more BoE rate cut. Eurozone PMIs, Canada’s and Japan’s CPI numbers also on tap.
