The USD/CAD pair recovers some lost ground to around 1.3980 during the Asian trading hours on Monday. The potential upside might be limited amid rising bets of a US Federal Reserve (Fed) rate cut this month.

The Japanese Yen (JPY) jumps to a one-and-a-half-week top against a broadly weaker US Dollar (USD) during the Asian session on Monday.

Silver price (XAG/USD) climbs to a fresh record high near $57.60 during the Asian trading hours on Monday. Silver has surged following the report about an outage on the Comex due to what the exchange operator CME calls a “cooling system failure.”

The NZD/USD pair is seen oscillating in a narrow range at the start of a new week and consolidating its recent strong gains to a nearly one-month peak, touched on Friday. Spot prices hold steady below mid-0.5700s and react little to the disappointing Chinese data.

The GBP/USD pair holds steady near 1.3245 during the Asian session on Monday as traders continue to digest the UK’s Autumn Budget. The potential downside for the major pair might be limited due to the rising expectations of a Federal Reserve (Fed) interest rate cut in the December meeting.

The EUR/USD pair regains positive traction at the start of a new week and climbs back above the 1.1600 round figure during the Asian session.

On Monday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 7.0759 compared to the Friday's fix of 7.0789 and 7.0709 Reuters estimate.

The AUD/USD pair kicks off the new week on a subdued note in reaction to unimpressive China's official PMIs released over the weekend, though the downside remains cushioned.

South Korea Trade Balance came in at $9.735B, above expectations ($8.4B) in November

The USD/JPY pair posts modest losses near 156.10 during the early Asian session on Monday. Traders raise bets that the US Federal Reserve (Fed) will cut interest rates again at the December policy meeting, which weighs on the US Dollar (USD) against the Japanese Yen (JPY).

EUR/USD steadies during Friday’s North American session set to finish the week and November’s in positive territory with gains o 0.81% and 0.59%, respectively as traders seem certain that the Federal Reserve will cut rates in December.

Silver (XAG/USD) climbs to a fresh all-time high on Friday, buoyed by dovish Federal Reserve expectations alongside strong industrial and investment demand.

The British Pound (GBP) treads water against the Japanese Yen (JPY) on Friday as the latest Tokyo inflation data keeps the Bank of Japan (BoJ) firmly on a tightening path.

GBP/USD dips during the North American session, despite heading to end the week with gains of over almost 1%, after the financial markets digest the Autumn Budget. The pair trades at 1.3221 after retreating from a daily high of 1.3245.

EUR/CAD trades around 1.6180 on Friday at the time of writing, down 0.50% as macroeconomic developments strengthen the Canadian Dollar (CAD) while leaving the Euro (EUR) lacking momentum.

The Canadian Dollar (CAD) strengthens against the US Dollar (USD) on Friday as traders respond to Canada’s Q3 Gross Domestic Product (GDP) rebound.

AUD/USD trades around 0.6535 on Friday at the time of writing, virtually unchanged on the day.

The Canadian Dollar (CAD) is soft, down a marginal 0.1% against the US Dollar (USD) as it performs relatively well against all of the G10 currencies with the exception of Japanese Yen (JPY), Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Euro (EUR) trades on the back foot against the Swiss Franc (CHF) on Friday, with EUR/CHF hovering around 0.9318 as markets digest a fresh round of economic data from both sides of the bloc.

Germany Consumer Price Index (YoY) below expectations (2.4%) in November: Actual (2.3%)

Germany Harmonized Index of Consumer Prices (MoM) above expectations (-0.6%) in November: Actual (-0.5%)

Germany Harmonized Index of Consumer Prices (YoY) came in at 2.6%, above forecasts (2.4%) in November

Germany Consumer Price Index (MoM) above expectations (-0.3%) in November: Actual (-0.2%)

The US Dollar is trading sideways at levels right above 156.00 against the Japanese Yen on Friday, after retreating from 10-month lows near 158.00 last week.

USD/CHF trades slightly higher on Friday, around 0.8060, up 0.15% at the time of writing. The pair remains on track for a weekly gain, supported by the persistent weakness of the US Dollar (USD) amid growing expectations of interest rate cuts by the Federal Reserve (Fed).

USD is likely to trade sideways between 156.00 and 156.75. In the longer run, soft underlying tone suggests there is a chance for USD to edge downward; any decline is likely part of a lower range of 155.05/157.05, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

The impact of change in political leadership has been clear in Japan with the yen notably weaker and JGB yields higher as market participants position for reflationist policies under the new leadership of Sanae Takaichi.

New Zealand Dollar (NZD) could rise above 0.5735; any further advance is unlikely to reach 0.5755. In the longer run, the price action suggests NZD is likely to advance further; the levels to watch are 0.5735 and 0.5755, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Australian Dollar (AUD) is likely to edge higher; any advance is likely part of a 0.6520/0.6555 range. In the longer run, rapid increase in upward momentum suggests AUD could rise further to 0.6555, potentially reaching 0.6580, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

USD/JPY is expected to hover around 156 as Japan’s budget lands broadly in line with expectations, while firm Tokyo inflation reinforces the BOJ’s gradual tightening path, DBS' Senior FX Strategist Chang Wei Liang notes.