Forex
The US Dollar (USD) hesitates against the Swiss Franc (CHF) on Monday after rallying nearly 1.2% in the four previous trading days.
Forex
United Overseas Bank's (UOB) Quek Ser Leang and Lee Sue Ann turn more negative on AUD/USD after a sharp sell-off toward 0.7140. They now sees a real chance of testing and breaking the major 0.7100 support, with 0.7065 as the next downside level.
Forex
The USD/CAD pair trades marginally lower to near 1.3735 during the European trading session on Monday. The Loonie pair faces selling pressure as the US Dollar (USD) turns upside down due to hopes that the United States (US) and Iran will break the deadlock and reach a deal soon.
Crude Oil prices are giving away previous daily gains in the early European session on Monday.
Commodities
Silver price (XAG/USD) is down over 1% to near $75.00 during the European trading session on Monday. The white metal extends its two-day massive decline as rising oil prices due to fears of the United States (US)-Iran war resumption have promoted global inflation expectations further.
Forex
Here is what you need to know on Monday, May 18:
Forex
The USD/JPY pair scales higher for the sixth consecutive day – also marking the seventh day of a positive move in the previous eight – and climbs to a two-and-a-half-week high during the Asian session on Monday.
The United Arab Emirates (UAE) officials said that a drone strike had triggered a fire near its nuclear power station, calling the incident a "dangerous escalation,” Reuters reported on Sunday.
Commodities
Global markets opened cautiously after the Trump-Xi Beijing summit ended with limited progress on trade and geopolitical tensions. Rising inflation fears and surging bond yields intensified concerns that the Federal Reserve may eventually consider rate hikes rather than cuts. Investors are increasingly worried about extreme concentration within the AI-driven stock rally as semiconductor and technology shares face mounting valuation pressure ahead of Nvidia’s highly anticipated earnings.
A week ahead preview: Markets are quickly turning to the next phase for Markets with key economic releases, the G7 Meeting and most importantly, the Kevin Warsh trade. Get ready for the upcoming week by looking at the past week's Market performance, what changed and the key events to expect in next week)
