The Mexican Peso gains some ground versus the Greenback on Monday, up by 0.66% as risk appetite improves, despite escalating tensions in the Middle East. At the time of writing, the USD/MXN trades at 17.43 after hitting a daily high of 17.55

USD/CAD trades higher near the 1.4060 area on Monday, recovering from below 1.4000 as the Canadian Dollar (CAD) weakens following softer-than-expected domestic inflation data. The US Dollar Index (DXY) also rises around 0.2% near 101.00, providing additional support to the pair.

Silver (XAG/USD) trades on the front foot on Monday as buyers defend the $55.00 mark after the metal briefly slipped below it on Friday, touching its lowest level since December 2025. At the time of writing, XAG/USD trades around $56.85, up nearly 1.50% on the day.

The Pound Sterling reverses course and turns negative on the day as Andy Burnham is named the new Prime Minister and reassures that he will stick to the fiscal rules set by the former Chancellor, Rachel Reeves, who just resigned. The GBP/USD trades at 1.3425, after hitting a daily high of 1.3481.

AUD/USD trades around the 0.7000 area on Monday, holding near recent highs after recovering from last week’s decline.

EUR/USD edges lower on Monday after reversing earlier gains as markets swing between risk-on and risk-off sentiment. At the time of writing, the pair trades around 1.1408, easing from an intraday high of 1.1449.

USD/JPY trades around 162.55 on Monday at the time of writing, up 0.10% on the day. After an initial pullback in the US Dollar (USD), the pair regains momentum as geopolitical concerns return to the forefront and support the Greenback.

TD Securities strategists note that softer Canadian Consumer Price Index (CPI) is lifting USD/CAD as rate divergence remains a key driver. They argue broad US Dollar (USD) strength should limit USD/CAD downside below 1.40 and see higher Oil prices as CAD-supportive on crosses but not versus USD.

HSBC strategists argue AUD/USD has room to rise into 2027, supported by Australia’s relatively high cash and government bond yields, which make the Australian Dollar attractive on a carry basis within G10 FX.

NZD/USD moves higher on Monday and trades around 0.5850 at the time of writing, up 0.14% on the day, as the US Dollar (USD) weakens following the latest US inflation data.

United Overseas Bank’s (UOB) Quek Ser Leang reports GBP/USD slipping but lacking strong downside momentum, with intraday trade expected between 1.3420 and 1.3475. The prior bullish view has faded after a break of 1.3450 support, and the pair is now seen in a 1.3385–1.3495 range.

USD/CAD edges higher on Monday as softer-than-expected Canadian inflation data and a firmer US Dollar (USD) weigh on the Canadian Dollar (CAD), while tensions in the Middle East keep financial markets volatile. At the time of writing, the pair is trading around 1.4045, up 0.17% on the day.

Brown Brothers Harriman’s (BBH) Elias Haddad expects Australia’s June labor force report to show a modest 15k job gain and unemployment steady at 4.4%, slightly above the Reserve Bank of Australia's (RBA) projection.

HSBC strategists see NZD/USD supported by New Zealand’s strengthening growth data and an aggressive Reserve Bank of New Zealand (RBNZ) hiking path. The RBNZ has begun raising rates and HSBC Economics projects 25bp hikes per quarter to 3.50% by Q3 2027.

DBS Group Research’s Philip Wee argues that the Euro (EUR) may find support in coming weeks as markets reassess geopolitical risks and central bank divergence.

The Euro (EUR) trades marginally lower to near 1.1432 against the US Dollar (USD) during the European trading session on Monday. The major currency pair edges down as the US Dollar recovers its early losses.

Brown Brothers Harriman’s (BBH) Elias Haddad expects New Zealand Q2 Consumer Price Index (CPI) to remain well above target, with quarterly and annual readings only slightly below the RBNZ’s own projections.

The Australian Dollar (AUD) appreciates against the US Dollar (USD) on Monday, as comments from Iranian Foreign Minister Esmaeil Baghaei offered a glimmer of hope for de-escalation in Iran and pushed Oil prices down from one-month highs.

BNY’s Geoff Yu reports that the Reserve Bank of India (RBI) has intervened onshore and offshore to support the Indian Rupee (INR) as USD/INR trades close to its all‑time high.

OCBC strategists Sim Moh Siong and Christopher Wong argue recent British Pound (GBP) strength looks stretched as markets price in fiscal discipline from the new UK government under Andy Burnham.

GBP/JPY wavers around 218.50, with bears contained above previous highs at 218.00.

BNY’s Geoff Yu argues that Euro (EUR) assets show emerging value as the European Central Bank (ECB) holds policy and inflation pressures ease, but stresses that Purchasing Managers’ Index (PMI) data and earnings must confirm stable growth.

EUR/JPY trades around 185.70 on Monday at the time of writing, showing little direction after a quiet start to the week.

MUFG’s Lee Hardman highlights the Pound as the best performing major currency in recent weeks, supported by higher UK real yields and favourable carry conditions.

The Japanese Yen (JPY) trades marginally higher against the US Dollar (USD) during the European trading session on Monday.

ING’s Chris Turner highlights that with Brent above $90, EUR/USD might normally trade below 1.14, but tighter correlation between energy and short-dated Euro swap rates is offering support.

Eurozone Construction Output s.a (MoM): 0.4% (May) vs previous 0.6%

Eurozone Construction Output w.d.a (YoY) climbed from previous 0.9% to 1.2% in May

The Canadian Dollar (CAD) holds gains near one-month highs against the US Dollar (USD) on Monday.

The USD/CHF pair turns lower for the second straight day following an intraday uptick to the 0.8100 neighborhood and touches a fresh daily low during the first half of the European session on Monday.