The US dollar (USD), which ended the previous week quietly, is now under fresh selling pressure. The currency is impacted by growing worries about a US economic slump and doubts about the independence of the Federal Reserve (Fed). The US stock and bond markets will be open as usual on Easter Monday, but many foreign markets, such as those in France, Germany, and the UK, will be closed. There will not be any high-level data releases on the economic calendar.
White House economic advisor Kevin Hassett told reporters late Friday that President Donald Trump and his team were still investigating whether firing Fed Chairman Jerome Powell was a possibility, something they had not done previously. As the next stage in the intensifying trade war, the Financial Times reported early Monday that Chinese state-backed funds were blocking fresh investment in US private equity, citing multiple people with knowledge of the situation. The USD Index continues to decline early Monday after finishing the previous week slightly down. It loses more than 1% on the day and trades below 98.50, its lowest level since April 2022. Meanwhile, U.S. stock index futures had a negative start to the week and were last spotted down 0.8% to 0.9%.
China's central bank, the People's Bank of China (PBOC), declared during Monday's Asian session that it has maintained the one-year and five-year Loan Prime Rates (LPRs) at 3.10% and 3.60%, respectively.
Gold gains upward momentum on safe-haven flows after Thursday's brief fall, and on Monday it rises toward $3,400, resuming its record-high.
Early Monday sees EUR/USD continue its upward trajectory after finishing the previous week with modest gains, trading above 1.1500 at its highest level since November 2021. The European Union (EU) is considering ways to change its methane emissions regulations to make it simpler for the US to comply with its gas exports, according to a Monday Reuters report that cited three people with knowledge of the situation.
On Monday, the GBP/USD exchange rate gathers momentum and reaches its highest level since September, trading at over 1.3400.
On Monday morning in Europe, the USD/JPY trades close to 140.70 after losing over 1% for the day.
White House economic advisor Kevin Hassett told reporters late Friday that President Donald Trump and his team were still investigating whether firing Fed Chairman Jerome Powell was a possibility, something they had not done previously. As the next stage in the intensifying trade war, the Financial Times reported early Monday that Chinese state-backed funds were blocking fresh investment in US private equity, citing multiple people with knowledge of the situation. The USD Index continues to decline early Monday after finishing the previous week slightly down. It loses more than 1% on the day and trades below 98.50, its lowest level since April 2022. Meanwhile, U.S. stock index futures had a negative start to the week and were last spotted down 0.8% to 0.9%.
China's central bank, the People's Bank of China (PBOC), declared during Monday's Asian session that it has maintained the one-year and five-year Loan Prime Rates (LPRs) at 3.10% and 3.60%, respectively.
Gold gains upward momentum on safe-haven flows after Thursday's brief fall, and on Monday it rises toward $3,400, resuming its record-high.
Early Monday sees EUR/USD continue its upward trajectory after finishing the previous week with modest gains, trading above 1.1500 at its highest level since November 2021. The European Union (EU) is considering ways to change its methane emissions regulations to make it simpler for the US to comply with its gas exports, according to a Monday Reuters report that cited three people with knowledge of the situation.
On Monday, the GBP/USD exchange rate gathers momentum and reaches its highest level since September, trading at over 1.3400.
On Monday morning in Europe, the USD/JPY trades close to 140.70 after losing over 1% for the day.
