EUR/USD eased from the previous session's gains, trading near 1.1240 during the Asian session on Monday (5/12). The euro (EUR) faced pressure as European Central Bank (ECB) official Olli Rehn indicated last week that the ECB may consider cutting interest rates at its next meeting—noting that upcoming forecasts confirm a persistent deflationary trend and slowing economic growth. Nonetheless, the EUR/USD pair gained support from optimism surrounding the US-China trade talks held in Geneva. Both sides reported "substantial progress" after two days of negotiations aimed at defusing the ongoing...
The GBP/USD pair started the new week on a weaker note and reversed part of Friday's modest recovery from the vicinity of the 1.3200 level, or over three-week lows. The spot prices traded around the 1.3280-1.3275 region during the Asian session, down 0.20% for the day amid a broadly stronger US Dollar (USD). The US announced on Sunday that a trade deal with China has been reached following high-stakes trade talks in Switzerland over the weekend. This, in turn, helped ease market concerns about a recession in the US. Moreover, the Federal Reserve's (Fed) hawkish pause earlier this month...
The Australian dollar (AUD) continued to strengthen against the US dollar (USD) for the second straight session on Monday (5/12). The AUD/USD pair benefited from growing optimism surrounding the US-China trade talks being held in Geneva. As Australia maintains strong economic ties with China, developments in the Chinese economy often have a direct impact on the AUD. After two days of negotiations aimed at easing trade tensions, both the US and China reported "substantial progress." Chinese Vice Premier He Lifeng described the talks as an "important first step" toward stabilizing bilateral...