Central banks are expected to increase their Gold purchases in 2026, analysts at Goldman Sachs say, supporting a much-needed boost to the precious metal toward the end of the year. 

ING strategists Warren Patterson and Ewa Manthey report renewed strength in European gas, with TTF breaking above EUR50/MWh as Middle East risks persist.

The broader cryptocurrency market is under intense selling pressure as Bitcoin (BTC) slipped below $77,000 on Monday, triggering a bearish cascading effect in altcoins.

Kit Juckes at Societe Generale highlights that EUR/USD has lost downward momentum after slipping from 1.18 to 1.16, despite risk-off conditions and tumbling sentiment indicators.

TD Securities’ Global Strategy Team notes a sharp bear steepening in US yields, with 30-year rates holding above 5% for four consecutive days for the first time since 2007. Markets now price in just over one additional Fed hike between July 2026 and June 2027.

Silver (XAG/USD) trades around $76.55 on Monday, up 0.80% on the day at the time of writing, as the white metal stabilizes after last week’s heavy sell-off.

MUFG’s Lee Hardman expects the British Pound (GBP) to stay on a softer footing as UK political uncertainty rises.

The US Dollar (USD) hesitates against the Swiss Franc (CHF) on Monday after rallying nearly 1.2% in the four previous trading days.

BNY's Bob Savage highlights that the Iran conflict, a drone attack in the United Arab Emirates (UAE) and refinery constraints are pushing Brent toward $110, with fears of airline shutdowns and refinery limits.

Cryptocurrency prices are broadly edging lower on Monday, with Bitcoin (BTC) trading below $77,000. This downturn represents a 7% pullback from Bitcoin’s May high of $82,850, underscoring a broad shift toward risk-off sentiment across crypto markets.

Brown Brothers Harriman’s (BBH) Elias Haddad notes Japan is close to the global ‘danger zone’ in bonds as more JGB issuance is planned to fund additional spending. Prime Minister Sanae Takaichi has called for a supplementary budget to offset higher commodity prices linked to the Iran war.

United Overseas Bank's (UOB) Quek Ser Leang and Lee Sue Ann turn more negative on AUD/USD after a sharp sell-off toward 0.7140. They now sees a real chance of testing and breaking the major 0.7100 support, with 0.7065 as the next downside level.

Gold (XAU/USD) is trading flat above $4,500 on Monday, stabilising after a four-day sell-off from $4,770. Investors await developments in the Middle East conflict as a spokesperson for the Iranian Foreign Ministry affirmed earlier on the day that the US-Iran talks are ongoing.

The AUD/USD pair trades flat around 0.7150 during the European trading session on Monday after recovering significant early losses. The Aussie pair bounces back as the US Dollar (USD) turns upside down on renewed hopes that the United States (US) and Iran will reach a deal soon.

Deutsche Bank’s Sanjay Raja expects the United Kingdom (UK) labour market to remain weak after a surprise drop in the jobless rate driven by self-employment.

According to the International Monetary Fund (IMF) staff, the Bank of England (BoE) doesn’t need to raise rates this year, based on the current energy price outlook.

TD Securities strategists judge China’s April data as weak, citing higher Oil prices and soft consumer sentiment. They expect targeted fiscal stimulus focused on infrastructure and see the PBoC remaining cautious on easing.

DBS Group Research economist Philip Wee argues that recent US Dollar (USD) resilience reflects higher-for-longer US yields rather than genuine fundamental strength.

AUD/JPY trades around 113.65 on Monday at the time of writing, up 0.16% on the day. The pair rebounds as persistent weakness in the Japanese Yen (JPY) supports the cross, despite disappointing economic data from China limiting gains for the Australian Dollar (AUD).

The US Dollar (USD) shows moderate losses against its main currency peers on Monday, as rumours about ongoing US-Iran negotiations have lifted market sentiment during the European session.

ING’s Chris Turner argues that higher long-dated yields and elevated energy prices are negative for Eurozone growth and thus for the Euro. He expects the European Central Bank to keep sounding hawkish to avoid losing control of long-end yields.

MUFG’s Lee Hardman notes that the US Dollar’s (USD) renewed strength and higher US yields have helped USD/JPY trade back above 159.00 overnight, with the pair moving closer to 160.00.

Oil markets remain on alert after new comments from International Energy Agency (IEA) Executive Director Fatih Birol, reported by Reuters on Monday.

Deutsche Bank strategists note that the S&P 500 has extended its run to seven consecutive weekly gains, the longest since 2023, even as rising bond yields and Oil prices triggered the worst daily decline since March.

Silver prices (XAG/USD) rose on Monday, according to FXStreet data. Silver trades at $76.02 per troy ounce, up 0.11% from the $75.94 it cost on Friday.

Societe Generale economists argue that the British Pound (GBP) and Gilts face a pivotal period as the Bank of England (BoE) reacts to persistent inflation and wage pressures, which have slowed the pace of rate cuts and hurt long-end Gilts.

NZD/USD rebounds around 0.5860 on Monday at the time of writing, up 0.35% on the day, after earlier touching a low near 0.5822 following disappointing economic data from China.