Silver prices (XAG/USD) fell on Monday, according to FXStreet data. Silver trades at $79.45 per troy ounce, down 1.67% from the $80.80 it cost on Friday.

Bitcoin (BTC) edges higher and trades around $75,000 on Monday after losing nearly 4.30% over the weekend, as renewed tensions between the US and Iran over the Strait of Hormuz hampered risk sentiment.

OCBC strategists Sim Moh Siong and Christopher Wong highlight that Gold remains closely tied to risk proxies, with weekend geopolitical twists denting risk appetite.

The USD/CAD pair attracts some dip-buyers on Monday, though it struggles to capitalize on the move or find acceptance above the 1.3700 mark amid mixed fundamental cues.

Eurozone Construction Output w.d.a (YoY) remains at -1.9% in February

Eurozone Construction Output s.a (MoM) down to -0.2% in February from previous -0.1%

The USD/JPY pair trades 0.25% higher to near 159.00 during the European trading session on Monday. The pair gains as the Japanese Yen (JPY) extends underperformance, following natural disasters in Japan.

Rabobank’s Senior Market Strategist Benjamin Picton highlights how shifting perceptions around the Strait of Hormuz are driving sharp moves in Brent.

The Euro (EUR) has retraced previous losses against the US Dollar (USD) following a weak weekly opening, as rising tensions between the US and Iran have curbed hopes of a swift resolution of the conflict.

EUR/JPY gains ground after registering modest losses in the previous trading day, hovering around 187.00 during the European hours on Monday.

UOB economists Quek Ser Leang and Lee Sue Ann report that AUD/USD surged to 0.7220 before reversing sharply and opening lower, with the latest drop seen as excessive but not yet complete.

The Australian Dollar (AUD) recovers previous losses against the US Dollar (USD) on Monday, amid tensions in the Strait of Hormuz between Iran and the US that cast doubt on the ceasefire's fate.

Deutsche Bank’s Jim Reid and colleagues describe how the S&P 500 has rallied strongly, reaching fresh record highs as Iran–US resolution hopes improved and Oil fell. They caution that earlier war episodes, such as Ukraine, show rallies can reverse if peace hopes fade.

Canada’s economic docket opens on Monday with the key Consumer Price Index (CPI) figures for March, which will be closely watched to gauge the inflationary impact of the war in Iran.

Commerzbank’s Tatha Ghose assesses the latest inflation data for Poland, Czech Republic and Hungary following the recent energy price spike. He notes that while headline inflation accelerated as expected, core measures show only mild, statistically noisy upticks.

Iran's foreign ministry spokesperson Esmail Baghaei said during the European trading session on Monday that there is “no plan for a second round of negotiations with the United States (US) for now.

Here is what you need to know on Monday, April 20:

Dow Jones futures decline 0.62% below 49,350, with S&P 500 and Nasdaq 100 futures also falling 0.49% and 0.47% to near 7,120 and 26,700, respectively, during European hours on Monday ahead of the United States (US) regular opening.

The GBP/USD pair builds on its modest intraday recovery from a one-week low and climbs back above the 1.3500 psychological mark during the early European session on Monday.

The GBP/JPY pair trades higher to near 214.60 during the European trading session on Monday. The pair gains as the Japanese Yen (JPY) underperforms its peers amid uncertainty surrounding the Bank of Japan’s (BoJ) interest rate decision, which will be announced on April 28.

ING’s Chris Turner notes the US Dollar (USD) briefly weakened after news that the Strait of Hormuz was fully open, implying US Dollar Index (DXY) around 97.50/98.00 and EUR/USD just over 1.18 if the crisis were resolved.

HSBC Asset Management highlights that global stock indices have stayed resilient through the Oil shock, while valuations and risk premia have adjusted more meaningfully.

Danske Research Team highlights that Brent crude has rebounded toward USD 95/bbl as US–Iran tensions around the Strait of Hormuz intensify.

USD/CHF inches higher after registering modest losses in the previous trading day, hovering around 0.7820 during the early European hours on Monday.

According to the Iranian Republic News Agency, Iran President Masoud Pezeshkian said during European trading hours on Monday that the "war is in no one's interest”, and “every rational and diplomatic path should be used to reduce tensions”.

The NZD/USD pair attracts some sellers to around 0.5865 during the early European session on Monday. The New Zealand Dollar (NZD) softens against the US Dollar (USD) amid heightened tensions between the United States (US) and Iran and the re-closing of the Strait of Hormuz. 

UOB economists Quek Ser Leang Lee and Sue Ann note that GBP/USD spiked to 1.3599 before dropping sharply and then sliding again on Monday. They see a chance of a test of 1.3450, with 1.3400 unlikely to be threatened.