Blogs

The Reserve Bank of Australia (RBA) will announce its monetary policy on Tuesday and is widely anticipated to keep the Official Cash Rate (OCR) unchanged at a 12-year high of 4.35%.

The GBP/JPY finished the North American session in negative territory, down more than 0.50%, after hitting a daily high of 187.61.

The EUR/USD fell another half-percent on Monday, dragging the pair into 12-week lows near 1.0723 after EU economic data failed to inspire investor confidence.

The Canadian Dollar (CAD) is broadly lower on Monday after a broad market dogpile into the US Dollar (USD) after US ISM Services Purchasing Managers Index (PMI) figures came in well above expectations.

The US Dollar (USD) measured by the DXY index rose on Monday to 104.50, its highest level since mid-November.

The Mexican Peso loses ground against the US Dollar (USD) courtesy of Federal Reserve Chairman Jerome Powell's interview during the weekend, sponsoring a jump in US Treasury bond yields.

The USD/JPY gained modestly late in the New York session, trading at around the 148.70s area, sponsored by the strong US Dollar and higher US Treasury bond yields.

Stronger US fundamentals and the hawkish tone from Chief Powell over the weekend were more than enough to lift the Greenback to fresh yearly highs and put the risk-associated universe under heightened pressure at the beginning of a new trading week.

In Monday's session, the AUD/JPY pair lost ground, with a low of 96.32 following a previous high of 96.80 earlier in the day.

Silver price dives to a new two-week low of $22.25 and tumbles more than 1.40% in the day as US Treasury bond yields climb.