Forex News
- Asian equities advance as tech shares extended gains on continued enthusiasm for the AI-driven rally.
- Japan’s Nikkei 225 and South Korea’s KOSPI hit record highs of 67,231 and 8,874, respectively.
- Japanese stocks rise as local firms expanded global AI infrastructure, positioning the market to benefit from the tech surge.
Asian equities advance on Monday as technology shares extended gains amid continued enthusiasm for the artificial intelligence-driven rally. However, traders may adopt caution due to highly fluid developments surrounding United States (US)-Iran peace negotiations.
During the Asian hours, Japan’s Nikkei 225 and South Korea’s KOSPI hit fresh record highs of 67,231 and 8,874, respectively. Hong Kong’s Hang Seng is up by 1.04%, trading around 25,450. However, China’s SSE Composite Index falls 0.12% to near 4,060 at the time of writing.
Traders continue to monitor developments in the Middle East as oil prices advance and the US dollar strengthens amid stalled progress toward a permanent US-Iran ceasefire. Although these elevated geopolitical tensions keep energy markets in sharp focus, broader Asian equities remain well-supported by a steady global risk appetite.
Japanese stocks appreciate as domestic firms deepen their integration into the global expansion of AI infrastructure, helping position the local market among the strongest beneficiaries of the worldwide tech surge. Leading the gains in this sector were heavyweights like Kioxia Holdings and SoftBank Group.
On the data front, Japan's final S&P Global Manufacturing Purchasing Managers' Index (PMI) was confirmed at 54.5 for May 2026, matching preliminary estimates. While this is down from April’s peak of 55.1, which was the highest since January 2022, the latest reading still signals expansion, albeit at a slower pace supported by steady output growth. However, corporate capital spending flatlined in the first quarter, missing market expectations and marking a sharp deceleration from the 6.5% year-on-year growth seen in the final quarter of 2025.
South Korea’s KOSPI rises amid booming semiconductor exports and relentless AI-driven demand. The country's total exports surged 53% year-on-year to a record $87.8 billion in May, led by a staggering 169% jump in semiconductor shipments that reinforced optimism over the sector’s corporate earnings outlook. Samsung Electronics led the market advance, while investors also looked ahead to Nvidia CEO Jensen Huang’s visit to South Korea later this week, which has raised expectations for major new AI and semiconductor partnership opportunities.
Asian stocks FAQs
Asia contributes around 70% of global economic growth and hosts several key stock market indices. Among the region’s developed economies, the Japanese Nikkei – which represents 225 companies on the Tokyo stock exchange – and the South Korean Kospi stand out. China has three important indices: the Hong Kong Hang Seng, the Shanghai Composite and the Shenzhen Composite. As a big emerging economy, Indian equities are also catching the attention of investors, who increasingly invest in companies in the Sensex and Nifty indices.
Asia’s main economies are different, and each has specific sectors to pay attention to. Technology companies dominate in indices in Japan, South Korea, and increasingly, China. Financial services are leading stock markets such as Hong Kong or Singapore, considered key hubs for the sector. Manufacturing is also big in China and Japan, with a strong focus on automobile production or electronics. The growing middle class in countries like China and India is also giving more and more prominence to companies focused on retail and e-commerce.
Many different factors drive Asian stock market indices, but the main factor behind their performance is the aggregate results of the component companies revealed in their quarterly and annual earnings reports. The economic fundamentals of each country, as well as their central bank decisions or their government’s fiscal policies, are also important factors. More broadly, political stability, technological progress or the rule of law can also impact equity markets. The performance of US equity indices is also a factor as, more often than not, Asian markets take the lead from Wall Street stocks overnight. Finally, the broader risk sentiment in markets also plays a role as equities are considered a risky investment compared to other investment options such as fixed-income securities.
Investing in equities is risky by itself, but investing in Asian stocks comes along with region-specific risks to be taken into account. Asian countries have a wide range of political systems, from full democracies to dictatorships, so their political stability, transparency, rule of law or corporate governance requirements may diverge considerably. Geopolitical events such as trade disputes or territorial conflicts can lead to volatility in stock markets, as can natural disasters. Moreover, currency fluctuations can also have an impact on the valuation of Asian stock markets. This is particularly true in export-oriented economies, which tend to suffer from a stronger currency and benefit from a weaker one as their products become cheaper abroad.
US President Donald Trump said that Iran really wants to make a deal, and it will be a good one for the United States (US) and those that are with us. His comments came after US Central Command (Centcom) stated that it struck targets in Iran over the weekend.
"Iran really wants to make a deal, and it will be a good one for the U.S.A. and those that are with us. But don’t the Dumocrats, and various seemingly unpatriotic Republicans, understand that it is MUCH tougher for me to properly do my job and negotiate, when political hacks keep negatively “chirping,” at levels never seen before, over and over again, that I should move faster, or move slower, or go to war, or not go to war, or whatever. Just sit back and relax, it will all work out well in the end - It always does! President DJT,” said Trump on Truth Social.
Market reaction
At the time of writing, the West Texas Intermediate (WTI) is up 1.85% on the day at $88.45.
WTI Oil FAQs
WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media.
Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa.
The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency.
OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
- Gold remains on the back foot below a two-week high amid a combination of factors.
- Geopolitical risks revive demand for the safe-haven USD and cap the precious metal.
- Hawkish Fed bets further act as a headwind for the commodity amid a bearish setup.
Gold (XAU/USD) edges lower during the Asian session on Monday and moves further away from a two-week high, around the $4,600 neighborhood, touched on Friday. The US Dollar (USD) regains positive traction at the start of the new week amid persistent geopolitical uncertainties and hawkish US Federal Reserve (Fed) expectations, which, in turn, is seen acting as a headwind for the commodity. The precious metal, however, manages to hold above the $4,500 psychological mark as trades seem hesitant and opt to wait for further progress in US-Iran peace talks.
Iran's Foreign Minister, Abbas Araqchi, told state media on Sunday that talks and message exchanges with the US are ongoing, though he cautioned against reading too much into unconfirmed reports about the negotiations. Earlier, Iran’s chief negotiator, Mohammad Bagher Qalibaf, stated that the country will not accept any agreement until its national rights are fully secured. Apart from this, reports suggest that the US had hardened its negotiating position with Iran, raising fresh uncertainty over diplomatic efforts to end a three-month-old conflict in the Middle East.
Moreover, differences over Iran's nuclear program and the Strait of Hormuz continue to complicate efforts to reach a deal. US President Donald Trump reportedly requested that edits related to the strategic waterway and enriched uranium be made to the US-Iran deal aimed at bringing an end to the fighting. Proposals are still being exchanged through Pakistani and other regional mediators, but it remains unclear if the sides are making much progress. Meanwhile, Israel expanded its ground assault in Lebanon in the battle with the Iranian-backed Hezbollah militant group.
Reuters reported that Israeli forces seized the 900-year-old Beaufort Castle and are now operating past the Litani River. This expansion marks Israel’s deepest incursion into Lebanon since its withdrawal in the year 2000 and keeps geopolitical risk premium in play, underpinning the safe-haven USD. Meanwhile, the latest development triggers a goodish recovery in Crude Oil prices from over a one-month low, touched on Friday. This revives inflation fears and bolsters Fed rate hike bets. This further benefits the buck and contributes to capping the non-yielding Gold.
The market attention now shifts to the important US macro data, scheduled at the start of a new month. A rather busy week kicks off with the release of the US ISM Manufacturing PMI, due later today. The focus, however, will be on the crucial US Nonfarm Payrolls (NFP) report on Friday, which could influence market expectations about the Fed's policy path and drive the USD demand in the near term. Apart from this, developments surrounding the Middle East crisis might continue to infuse volatility across the global financial markets and influence the Gold price.
XAU/USD daily chart
Gold bears have the upper hand; ascending channel/50-day SMA confluence holds the key
From a technical perspective, the XAU/USD pair is holding a bearish near-term bias as it remains trapped inside a downward parallel channel and below the 50-day Simple Moving Average (SMA). Moreover, moderating Moving Average Convergence Divergence (MACD) histogram together with a sub-50 Relative Strength Index (RSI) around 44 suggest rallies are likely to be sold while momentum stays soft.
However, the commodity last week showed some resilience below the very important 200-day SMA, which still underpins the broader uptrend. This makes it prudent to wait for a convincing break and acceptance below the said MA at $4,411.29 before positioning for a fall towards the channel support near $4,303.42. On the topside, immediate resistance is clustered around the channel’s upper boundary near $4,627.52, reinforced by the 50-day SMA at $4,628.82. A sustained break above this confluence would be needed to ease the current downside pressure.
(The technical analysis of this story was written with the help of an AI tool.)
Fed FAQs
Monetary policy in the US is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability and foster full employment. Its primary tool to achieve these goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, it raises interest rates, increasing borrowing costs throughout the economy. This results in a stronger US Dollar (USD) as it makes the US a more attractive place for international investors to park their money. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates to encourage borrowing, which weighs on the Greenback.
The Federal Reserve (Fed) holds eight policy meetings a year, where the Federal Open Market Committee (FOMC) assesses economic conditions and makes monetary policy decisions. The FOMC is attended by twelve Fed officials – the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four of the remaining eleven regional Reserve Bank presidents, who serve one-year terms on a rotating basis.
In extreme situations, the Federal Reserve may resort to a policy named Quantitative Easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used during crises or when inflation is extremely low. It was the Fed’s weapon of choice during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy high grade bonds from financial institutions. QE usually weakens the US Dollar.
Quantitative tightening (QT) is the reverse process of QE, whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing, to purchase new bonds. It is usually positive for the value of the US Dollar.
- WTI price rises to near $88.45 in Monday’s early European session.
- The Kuwaiti military reported a missile and drone attack, raising fears of prolonged conflict in the Middle East.
- The constructive outlook remains intact above the key 100-day EMA.
- The first upside barrier emerges at $95.00; the initial support level is seen at $85.20.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $88.45 during the early European trading hours on Monday. WTI price attracts some buyers following the Kuwaiti military reports of a missile and drone attack. Traders will closely monitor the Middle East developments and the US-Iran peace deal progress.
The Guardian reported on Monday that Kuwait's armed forces said that the country's air defense systems were intercepting hostile missiles and drone attacks after air raid sirens sounded and emergency alerts were issued nationwide. Minutes after Kuwait reported coming under attack, US Central Command (Centcom) said it had conducted “strikes on Iranian radar and command and control sites for drones” over the weekend.
Meanwhile, Iran’s Islamic Revolutionary Guards Corps (IRGC) said that it targeted an airbase used by the US to launch an attack on Sirik Island in southern Iran. Escalating tensions in the Middle East could raise fears of supply disruption and boost the WTI price in the near term.
The release of the American Petroleum Institute (API) report is due later on Tuesday. A larger-than-expected crude oil inventory draw indicates stronger demand and could lift the WTI price, while a bigger build than estimated signals weaker demand or excess supply, which might weigh on the WTI price.
Technical Analysis:
In the daily chart, WTI US Oil holds a constructive near-term tone while it stays above the 100-day simple moving average (SMA), with the lower Bollinger Band adding intermediate demand beneath spot. Price, however, remains below the Bollinger mid-line, keeping the latest pullback within a broader uptrend, while the Relative Strength Index (RSI) at 42 suggests cooling momentum rather than outright bearish pressure.
On the topside, initial resistance emerges near the May 26 high of $93.57. The next hurdle is located at the Bollinger middle band around $95.00, followed by the 100.00 psychological level and the upper Bollinger Band near $104.76. On the downside, immediate support aligns with the current area around the lower Bollinger Band at $85.20, with the 100-day SMA at $82.56 acting as a more important bullish line in the sand; a sustained break below that zone would significantly weaken the prevailing positive bias.
(The technical analysis of this story was written with the help of an AI tool.)
WTI Oil FAQs
WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media.
Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa.
The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency.
OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
- The Indian Rupee rises at open against the US Dollar at the start of the RBI policy and the US NFP week.
- Oil prices rebound due to the exchange of attacks between Israel and Lebanon.
- The RBI is expected to leave interest rates unchanged on Friday.
The Indian Rupee (INR) opens on a positive note against the US Dollar (USD) at the start of the Reserve Bank of India (RBI) policy week. The USD/INR pair slides to near 94.78 as the Indian currency strengthens further amid solid hopes over the United States (US)-Iran permanent peace deal, even as oil prices have bounced back.
At press time, the WTI Oil price trades 2% higher to near $89.00 after registering over-a-month low at $85.41 on Friday. Theoretically, currencies from economies, such as India, which rely heavily on oil imports to meet their energy needs, tend to underperform when oil prices recover.
Oil prices have regained ground, following attacks from Israeli Defense Forces (IDF) in Lebanon on Iran-backed Hezbollah, which renewed fears of an energy supply crisis.
US President Trump revises terms for Iran deal
The comments from US and Iranian officials clearly state that negotiations toward a permanent peace deal are ongoing, and Washington doesn’t want Tehran to have nuclear weapons in any way.
US President Donald Trump said in an interview with Fox News over the weekend that Washington wants to make sure Iran neither develops nuclear weapons nor purchases them before reaching a deal, adding that he has inculcated tougher terms for Iran relating to nukes and the Strait of Hormuz. “So now [the agreement] says, 'We will not develop or in any way purchase a military weapon,” Trump said.
After US President Trump’s interview, Iran's Foreign Minister Abbas Araghchi said that negotiations with Washington were ongoing, and any deal could not be judged before a definitive outcome is reached, Reuters reported.
RBI policy and India’s Q1 GDP data awaited
This week, key triggers for the Indian currency will be the RBI’s monetary policy announcement and the Q1 GDP data, which will be released on Friday. According to the latest Reuters poll, the RBI will hold its key Repo Rate unchanged at 5.25% and deliver a hawkish stance on the monetary policy outlook, as high oil prices due to the energy supply crisis have prompted inflationary pressures globally.
The poll also showed that a majority of economists anticipated at least one interest rate hike by the year-end.
Over the weekend, India’s Finance Ministry warned that a depreciating Indian Rupee, higher energy prices, and below-average expected monsoon pose a threat to nation's inflation outlook.
US NFP will be key trigger for US Dollar
The US Dollar starts the week with a mild bullish tone, with investors awaiting key US labor market and economic activity data releases, especially the Nonfarm Payroll (NFP) data, which will be released on Friday.
The impact of the US NFP data is expected to be limited on the Federal Reserve’s (Fed) monetary policy outlook, unless there is a dramatic change, as the latest comments from policymakers have shown that they are more concerned about high inflation than weak job demand.
Technical Analysis: USD/INR settles below 20-day EMA
USD/INR trades lower at around 94.78, holding below the 20-day exponential moving average (EMA) at 95.3677 and keeping a mild bearish near-term bias.
The pair has slipped away from recent highs, and with price capped beneath this short-term EMA, rallies appear vulnerable to selling while the Relative Strength Index (RSI) at 45.7 drifts below the neutral 50 line, hinting at waning upside momentum rather than outright oversold conditions.
On the topside, initial resistance is defined by the 20-day EMA at 95.37, and a sustained break above this barrier would be needed to ease immediate downside pressure and open the way toward 96.00. Looking down, the pair could extend its decline towards May 7 low at around 94.00
(The technical analysis of this story was written with the help of an AI tool.)
Indian Rupee FAQs
The Indian Rupee (INR) is one of the most sensitive currencies to external factors. The price of Crude Oil (the country is highly dependent on imported Oil), the value of the US Dollar – most trade is conducted in USD – and the level of foreign investment, are all influential. Direct intervention by the Reserve Bank of India (RBI) in FX markets to keep the exchange rate stable, as well as the level of interest rates set by the RBI, are further major influencing factors on the Rupee.
The Reserve Bank of India (RBI) actively intervenes in forex markets to maintain a stable exchange rate, to help facilitate trade. In addition, the RBI tries to maintain the inflation rate at its 4% target by adjusting interest rates. Higher interest rates usually strengthen the Rupee. This is due to the role of the ‘carry trade’ in which investors borrow in countries with lower interest rates so as to place their money in countries’ offering relatively higher interest rates and profit from the difference.
Macroeconomic factors that influence the value of the Rupee include inflation, interest rates, the economic growth rate (GDP), the balance of trade, and inflows from foreign investment. A higher growth rate can lead to more overseas investment, pushing up demand for the Rupee. A less negative balance of trade will eventually lead to a stronger Rupee. Higher interest rates, especially real rates (interest rates less inflation) are also positive for the Rupee. A risk-on environment can lead to greater inflows of Foreign Direct and Indirect Investment (FDI and FII), which also benefit the Rupee.
Higher inflation, particularly, if it is comparatively higher than India’s peers, is generally negative for the currency as it reflects devaluation through oversupply. Inflation also increases the cost of exports, leading to more Rupees being sold to purchase foreign imports, which is Rupee-negative. At the same time, higher inflation usually leads to the Reserve Bank of India (RBI) raising interest rates and this can be positive for the Rupee, due to increased demand from international investors. The opposite effect is true of lower inflation.
- GBP/USD lacks any firm intraday directional bias and oscillates in a narrow range on Monday.
- Geopolitical uncertainties and hawkish Fed expectations underpin the USD, capping spot prices.
- The technical setup, too, warrants some caution before positioning for any meaningful upside.
The GBP/USD pair struggles to capitalize on its goodish recovery from a one-and-a-half-week low, touched last Thursday, and oscillates in a narrow range around mid-1.3400s at the start of a new week. The US Dollar (USD) regains some positive traction amid the uncertainty over a potential US-Iran peace deal and hawkish US Federal Reserve (Fed) bets. This, in turn, is seen as a key factor acting as a headwind for spot prices.
The British Pound (GBP), on the other hand, is undermined by expectations for a delayed rate hike from the Bank of England (BoE), especially after softer inflation figures and an unexpected rise in the Unemployment Rate. Traders, however, opt to wait for this week's important US macro releases and BoE Governor Andrew Bailey's appearances before positioning for the next leg of a directional move for the GBP/USD pair.
From a technical perspective, spot prices hold a capped tone below the 200-period Simple Moving Average (SMA) on the 4-hour chart, which should continue to act as overhead supply. However, the rising trend-line support around 1.3356 underpins the broader advance. Meanwhile, momentum indicators are mildly constructive, yet signaling at stabilizing downside pressure rather than a decisive bullish shift for the GBP/USD pair.
In fact, the Relative Strength Index (RSI) is hovering above the 50 line, while the Moving Average Convergence Divergence (MACD) is marginally positive. This, in turn, suggests that any subsequent move up is more likely to confront stiff resistance near the 1.3500 psychological mark (200-period SMA). A sustained move above this barrier would be needed to reopen the path toward higher highs.
On the downside, the next notable support aligns with the prior uptrend support line around 1.3356, where buyers would be expected to emerge on a deeper pullback. A convincing break below that zone would suggest a more meaningful deterioration of the medium-term bullish structure.
(The technical analysis of this story was written with the help of an AI tool.)
GBP/USD 4-hour chart
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.09% | -0.05% | 0.13% | 0.07% | -0.03% | 0.31% | 0.27% | |
| EUR | -0.09% | -0.12% | 0.00% | -0.02% | -0.07% | 0.23% | 0.17% | |
| GBP | 0.05% | 0.12% | 0.15% | 0.11% | -0.01% | 0.33% | 0.28% | |
| JPY | -0.13% | 0.00% | -0.15% | -0.03% | -0.14% | 0.21% | 0.14% | |
| CAD | -0.07% | 0.02% | -0.11% | 0.03% | -0.11% | 0.23% | 0.18% | |
| AUD | 0.03% | 0.07% | 0.00% | 0.14% | 0.11% | 0.29% | 0.28% | |
| NZD | -0.31% | -0.23% | -0.33% | -0.21% | -0.23% | -0.29% | -0.05% | |
| CHF | -0.27% | -0.17% | -0.28% | -0.14% | -0.18% | -0.28% | 0.05% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
- EUR/JPY may retest the upper boundary of the descending channel around 186.00.
- The 14-day Relative Strength Index of 57 suggests upward momentum should persist.
- The primary support appears at the nine-day EMA at 185.33.
EUR/JPY steadies after six days of gains, trading around 185.70 during the Asian hours on Monday. The currency cross is maintaining a constructive bullish bias as it holds above both the nine-day and 50-day Exponential Moving Averages (EMAs).
The alignment of price over short- and medium-term moving averages hints at sustained underlying demand, while the 14-day Relative Strength Index (RSI) around 57 stays in positive territory without yet signaling overbought conditions, suggesting upside pressure could persist as long as these floors remain intact.
The technical analysis of the daily chart suggests the EUR/JPY cross is positioned near the upper boundary of the descending channel pattern around 186.00. The sustained break above the channel would indicate bullish confirmation. Further advance would support the EUR/JPY cross to explore the region around the all-time high of 187.95, recorded on April 17.
On the downside, the primary support lies at the nine-day EMA at 185.33, followed by the 50-day EMA of 184.98. A break below moving averages would revive the bearish bias and put downward pressure on the EUR/JPY cross to navigate the region around the three-month low of 181.87, recorded on March 16, followed by nearly six-month low of 180.81, reached on February 12.
(The technical analysis of this story was written with the help of an AI tool.)
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the British Pound.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.10% | -0.04% | 0.13% | 0.08% | -0.02% | 0.31% | 0.28% | |
| EUR | -0.10% | -0.12% | 0.00% | -0.02% | -0.07% | 0.23% | 0.16% | |
| GBP | 0.04% | 0.12% | 0.15% | 0.10% | -0.02% | 0.33% | 0.27% | |
| JPY | -0.13% | 0.00% | -0.15% | -0.03% | -0.13% | 0.21% | 0.14% | |
| CAD | -0.08% | 0.02% | -0.10% | 0.03% | -0.11% | 0.23% | 0.18% | |
| AUD | 0.02% | 0.07% | 0.02% | 0.13% | 0.11% | 0.28% | 0.27% | |
| NZD | -0.31% | -0.23% | -0.33% | -0.21% | -0.23% | -0.28% | -0.05% | |
| CHF | -0.28% | -0.16% | -0.27% | -0.14% | -0.18% | -0.27% | 0.05% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Gold prices fell in India on Monday, according to data compiled by FXStreet.
The price for Gold stood at 13,827.12 Indian Rupees (INR) per gram, down compared with the INR 13,895.92 it cost on Friday.
The price for Gold decreased to INR 161,277.10 per tola from INR 162,079.30 per tola on friday.
Unit measure | Gold Price in INR |
|---|---|
1 Gram | 13,827.12 |
10 Grams | 138,271.50 |
Tola | 161,277.10 |
Troy Ounce | 430,070.50 |
FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
(An automation tool was used in creating this post.)
Forex Market News
Our dedicated focus on forex news and insights empowers you to capitalise on investment opportunities in the dynamic FX market. The forex landscape is ever-evolving, characterised by continuous exchange rate fluctuations shaped by vast influential factors. From economic data releases to geopolitical developments, these events can sway market sentiment and drive substantial movements in currency valuations.
At Rakuten Securities Hong Kong, we prioritise delivering timely and accurate forex news updates sourced from reputable platforms like FXStreet. This ensures you stay informed about crucial market developments, enabling informed decision-making and proactive strategy adjustments. Whether you’re monitoring forex forecasts, analysing trading perspectives, or seeking to capitalise on emerging trends, our comprehensive approach equips you with the insights needed to navigate the FX market effectively.
Stay ahead with our comprehensive forex news coverage, designed to keep you informed and prepared to seize profitable opportunities in the dynamic world of forex trading.
