USD/CNY Exchange rate

AUD/USD rapidly left behind Friday’s pronounced decline and regained strong impulse on Monday, surpassing the 0.6500 barrier with certain conviction and reaching new peaks around 0.6550. The move higher in spot was propped up by extra losses in the US Dollar and a generalised risk-on mood.

EUR/USD surpassed the 1.1600 barrier once again, although it failed to extend the move further north in quite a firm start to the week. The renewed weakness around the Greenback allowed spot and the risk complex in general to regain composure and leave behind the recent drop.

Gold keeps its offered stance on Monday, and is now drifting lower to the area of daily troughs around $3,380 per troy ounce against the backdrop of persistent risk-on sentiment and shrinking effervescence in the Middle East. Furthermore, the tepid bounce in US yields across the board also contributes to the decline in the precious metal.

Ripple (XRP) flaunts a short-term bullish outlook as part of the recovery from the sell-off encountered last week after Israel launched attacks on Iran, escalating geopolitical tensions in the Middle East.

China's May data was mixed with strong retail sales, but soft readings on fixed-asset investment and property price. Overall, though, data suggests that China remains on track to achieve its growth target in the first half of 2025.