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Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.
AUD/USD holds steady above 0.7100 in the Asian session on Monday as the US Dollar stalls its modest pullback from the highest level since late July amid persistent geopolitical uncertainties. The PBOC status quo on Loan Prime Rates also weighs on the Aussie. However, bets on another RBA rate hike continue to underpin the Australian Dollar ahead of the Trump-Xi Summit.
USD/JPY is easing back below 157.00 in Asia on Monday, undermined by modest Japanese Yen strength amid looming intervention risks after Friday's BoJ rate check. A Japanese holiday also keeps traders on edge amid escalating geopolitical tensions between Russia and Ukraine and in the Middle East. As a result, the US Dollar pauses its pullback, limiting the pair's downside.
Gold snaps recent recovery from six-week lows on Monday after facing rejection at $4,400. US Dollar stalls correction amid renewed geopolitical jitters, ahead of the Trump-Xi meeting. Gold’s daily technical setup paints a mixed picture, with a neutral daily RSI.
Bitcoin, Ethereum and Ripple extend their gains on Monday after posting strong gains of over 5%, 6% and 5%, respectively, last week. BTC trades above $81,300, ETH climbs above $2,600, and XRP holds above the key $1.300 support level. All three momentum indicators suggest early bullish momentum and hint at further gains ahead.
The Bank of Japan (BoJ) raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks.
