The Swiss Franc (CHF) trades on the back foot against the US Dollar (USD) on Monday, as the nomination of former Federal Reserve (Fed) Governor Kevin Warsh as the next Fed Chair helps the Greenback recover from four-year lows.
HSBC's report highlights a robust start for Emerging Markets (EM) in 2026, with the MSCI EM index rising approximately 11% in USD terms. This performance contrasts with a mere 2% increase for the MSCI US index.
Silver (XAG/USD) trades sharply lower on Monday, hovering around $81.80 at the time of writing, down 2.0% on the day. The white metal extends the corrective move that began after last week’s steep drop, as markets rapidly reassess the macroeconomic and monetary outlook in the United States (US).
TD Securities analysts anticipate that the Reserve Bank of Australia (RBA) will raise its cash rate target by 25 basis points to 3.85%. This expectation is supported by a firmer growth outlook and signs of increasing inflation.
Deutsche Bank's report by Henry Allen, Macro Strategist and Jim Reid, Global Head of Macro and Thematic Research, highlights a significant increase in Brent Crude Oil prices, which rose by 16.2% in January 2026, closing at $70.69/bbl.
Gold (XAU/USD) stabilises on Monday with dip-buying interest emerging after a sharp correction from last week’s surge to fresh all-time highs near $5,600. At the time of writing, XAU/USD trades around $4,705, recovering after an intraday slide of nearly 10% to over three-week lows near $4,402.
The Euro (EUR) remains range-bound against the British Pound (GBP) at the start of the week, as traders stay on the sidelines and avoid large directional bets ahead of this week’s interest-rate decisions from the Bank of England (BoE) and the European Central Bank (ECB).
The HSBC report discusses the recent strengthening of the Yen against the US Dollar, which follows a surge in Japanese long-dated bond yields.
DBS Bank's Group Research report, authored by Philip Wee, highlights that GBP/USD is expected to maintain a dovish bias within a specified range as the market awaits the Bank of England's upcoming meeting.
West Texas Intermediate (WTI) US Oil trades around $61.90 on Monday at the time of writing, down 5.50% on the day. WTI prices remain under pressure as markets react to signs of easing tensions between the United States (US) and Iran, which could alter supply expectations in the global energy market.
Commerzbank's report by Tatha Ghose, analyzes the Hungarian Forint's (HUF) performance amid economic challenges. Despite a recent recovery following a dovish central bank stance, disappointing GDP growth figures raise concerns about the currency's future.
Bob Savage, Head of Markets Macro Strategy at BNY, notes the Australian Dollar's potential as the Reserve Bank of Australia (RBA) is expected to hike rates this week due to rising inflation.
The Euro (EUR) has turned negative against the US Dollar (USD) on Monday, and is trading at 1.1845 at the time of writing, despite rather positive data from the Eurozone.
Gold (XAU/USD) is trimming some losses on Monday after the sharp bearish correction witnessed on Friday and Monday’s Asian session. The precious metal has returned to levels near $4,800, trading at $4,766 at the time of writing, but still about 15% below Thursday's highs above $5,600.
According to Brown Brothers Harriman (BBH) analysts, USD/JPY has retraced about 50% of last week’s decline and is trading just under 155.00. The Bank of Japan's recent policy meeting reinforced a cautious hiking bias, with a base case for another rate hike expected at the April 28 meeting.
This week is critical for the Koruna as central banks in the CEE region prepare for important announcements. Frantisek Taborsky from ING expects mixed signals from PMIs and inflation data that could influence monetary policy.
AUD/USD broke out of a large base last month, triggering an acceleration in the uptrend.
Deutsche Bank Research Analyst Michael Hsueh reiterates its bullish outlook on Gold, maintaining a target price of $6,000 per ounce. The report emphasizes that recent price corrections do not indicate a fundamental shift in investor sentiment.
The Pound Sterling (GBP) outperforms its currency peers at the start of the week, regains ground against the US Dollar (USD) during the European trading session. The GBP/USD pair finds temporary support near 1.3660 and rises slightly above 1.3700 as the US Dollar edges down.
The United States (US) Institute of Supply Management (ISM) Manufacturing Purchasing Managers’ Index (PMI) data for January is scheduled to be published today at 15:00 GMT.
The Global Strategy Team at TD Securities highlights that upcoming employment data will be critical in determining the timing of the Federal Reserve's next rate cut. Key reports include JOLTS on Tuesday, ADP on Wednesday, and the NFP/unemployment numbers on Friday.
The Pound is posting moderate gains against a weaker Japanese Yen, weighed by Prime Minister Takaichi’s comments on Monday. The pair trades right above 212.00 at the time of writing, up from last week’s lows at the 209.60 area, but also below session highs at 212.68.
An opinion poll indicates that the ruling coalition is set to secure a strong victory in the upcoming election, which could support a weaker Yen.
The AUD/USD pair recoups its early losses and rebounds to near its opening price around 0.6960 during the European trading session on Monday. The Aussie pair bounces back as the US Dollar (USD) ticks down, but broadly remains firm.
NZD/USD trades around 0.6030 on Monday at the time of writing, up 0.10% on the day. The pair strengthens amid supportive macroeconomic signals from China, New Zealand’s main trading partner, which underpin the New Zealand Dollar (NZD) against the US Dollar (USD).
The US Dollar holds minor gains on Monday after rallying nearly 1% on Friday against the Canadian Dollar. The pair, however, found sellers at 1.3675 earlier in the day before trimming some gains, and retreated to 1.3630 at the time of writing.
The Indian Rupee (INR) gains against the US Dollar (USD) on Monday, following the Indian government's announcement of the fiscal budget for the Financial Year (FY) 2026-27 on Sunday.
Commerzbank's Economic Research report highlights the ongoing struggles of the Chinese economy, with both the manufacturing and services sectors slipping into contraction territory.
The Dollar has shown signs of recovery as precious metals decline, with expectations for positive data this week. ING analysts anticipate a decent payroll report, which could support further Dollar strength.
Silver prices (XAG/USD) fell on Monday, according to FXStreet data. Silver trades at $77.45 per troy ounce, down 7.13% from the $83.40 it cost on Friday.
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