Haber Akışı

Gold’s (XAU/USD) has opened the week in the same cautious mood that ended the last one. The precious metal keeps hovering within a tight range around $4,700 at the time of writing, with doji candles on the daily chart highlighting an indecisive market.

ING analysts Warren Patterson and Ewa Manthey note that Oil has rallied strongly as US-Iran peace talks stall and energy flows through the Strait of Hormuz remain constrained.

Philip Wee of DBS Group Research observes that the US Dollar (USD), as measured by the US Dollar Index (DXY), has lost upside momentum after an earlier rebound. The index has stalled around 99 following a decline from 100.6 to just under 98 earlier in April.

EUR/JPY trades around 186.95 on Monday at the time of writing, up modestly by 0.07%, as markets adopt a wait-and-see stance ahead of this week’s monetary policy decisions from the Bank of Japan (BoJ) and the European Central Bank (ECB).

The Japanese Yen (JPY) trades higher against the US Dollar (USD), with the USD/JPY pair dropping to near 159.15, during the European trading session on Monday.

MUFG’s Lee Hardman highlights that the Pound (GBP) has outperformed, pushing EUR/GBP to new lows as markets price a more hawkish Bank of England (BoE) stance on the back of stronger United Kingdom (UK) growth and sticky inflation.

Commerzbank analysts flag INR as the region’s laggard, with USD/INR hitting record highs on higher Oil prices, wider current account concerns and capital outflows.

The Pound Sterling (GBP) faces selling pressure against its major currency peers, but is marginally higher against the US Dollar (USD) around 1.3545, during the European trading session on Monday.

ING’s Chris Turner expects the Euro to trade in tight ranges as markets await Thursday’s European Central Bank (ECB) meeting. He notes the ECB is unlikely to hike but must keep a rate increase on the table given high Oil-driven inflation expectations.

HSBC Asset Management notes that upcoming meetings of the Federal Reserve (Fed), European Central Bank (ECB and Bank of England (BoE) are unlikely to deliver policy changes, but guidance on inflation and growth will be closely watched.