Commerzbank analysts highlight that USD/INR fell 0.5% to 95.71 and is down 0.3% on the week, as the Reserve Bank of India (RBI) intervenes in spot markets and tightens gold import rules.

Philip Wee at DBS highlights uncertainty around new Fed Chair Kevin Warsh’s approach, noting President Trump’s preference for lower rates and Warsh’s reform-oriented stance.

According to the Iranian Student News Agency (ISNA), a senior Iranian diplomat said that the nuclear issue and highly enriched uranium reserves will be discussed with the United States (US) in 60-day negotiations in exchange for the lifting of sanctions and unfreezing of assets.

European Central Bank (ECB) policy governing council member and Governor of the Bank of Greece, Yannis Stournaras said during the European trading session on Monday that the closure of the Strait of Hormuz, a critical passage to almost 20% of global energy supply, may have secondary effects on wages

Turkey Economic Confidence Index increased to 97.2 in April from previous 96.4

Commerzbank’s FX Research team, including Charlie Lay and Dr. Henry Hao, notes that Brent Oil has been volatile as markets react to prospects of a US-Iran agreement and the continued closure of the Strait of Hormuz.

The Indian Rupee (INR) opens on a strong note against the US Dollar (USD) at the start of the week. The USD/INR pair extends its losing streak for the fourth trading day on Monday, sliding to near 95.20, the lowest level seen in almost two weeks.

USD/JPY gains ground after opening at a bearish gap, remaining in the negative territory and trading around 158.90 during the Asian hours on Monday. The pair maintains its downward momentum as the Japanese Yen (JPY) gains support from falling oil prices.

US Secretary of State Marco Rubio said that the US will give diplomacy every chance with Iran but will pursue other means if a good deal cannot be reached, while describing the current framework as solid, Reuters reported on Monday.

Singapore Consumer Price Index (YoY) came in at 1.8 below forecasts (2) in April

Gold prices rose in India on Monday, according to data compiled by FXStreet.

Most Asian stocks rally broadly at the start of a new week as developments over the weekend fuel hopes for a potential deal to end a nearly three-month-long Iran war and boost investors' appetite for riskier assets.

US President Donald Trump’s chief economic adviser at the White House, Kevin Hassett, said on Monday that he is confident that an eventual drop in oil prices will create space for the US Federal Reserve (Fed) to cut the interest rates.

Reserve Bank of India (RBI) Governor Sanjay Malhotra said that the Indian Rupee (INR) may now be undervalued following its recent depreciation, Reuters reported on Monday.

NZD/USD depreciates after opening at a higher level from the previous close, still remaining in the positive territory and trading around 0.5870 during the Asian hours on Monday.

In an Italian talkshow Che Tempo Che Fa on Sunday, the European Central Bank (ECB) President Christine Lagarde said that the central bank is likely to raise the inflation forecast at its monetary policy meeting next month.

Here’s a brief recap of the key developments in the Middle East war that occurred over the weekend, which are expected to have a significant impact on markets in the upcoming week.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann expect USD/SGD to edge lower intraday toward 1.2760, though a sustained break is seen as unlikely, with major support at 1.2730 intact.

DBS Group Research economists Radhika Rao and Chua Han Teng highlight that ASEAN-6 economies are experiencing asymmetric inflation outcomes despite a common energy shock. Indonesia and Malaysia show relatively contained inflation, while Thailand, Vietnam and Philippines face higher readings.

Japan CFTC JPY NC Net Positions declined to ¥-93.9K from previous ¥-75.1K

United States CFTC Oil NC Net Positions climbed from previous 169.9K to 172.6K

United States CFTC Gold NC Net Positions fell from previous $171.6K to $159.8K

United Kingdom CFTC GBP NC Net Positions declined to £-64.3K from previous £-43.1K

Australia CFTC AUD NC Net Positions climbed from previous $85K to $85.6K

Eurozone CFTC EUR NC Net Positions dipped from previous €40.2K to €33.5K

United States CFTC S&P 500 NC Net Positions climbed from previous $-143.8K to $-140.6K

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann expect USD/CNH to trade quietly between 6.7920 and 6.8060 intraday after recent moves failed to generate fresh momentum.

OCBC notes USDSGD is trading choppily in a subdued range, closely tracking moves in the USD, Oil and UST yields. The bank sees mild bullish momentum starting to fade and maintains a bias to sell rallies, with key support around 1.2720/60 and 1.2650/70 and resistance near 1.2840/50.

ING economists Min Joo Kang and Lynn Song expect the Bank of Korea to leave policy rates unchanged this week but to adopt a more hawkish tone. They see updated dot plots pointing to one or two rate hikes within six months, alongside upgraded GDP and CPI forecasts.

Kevin Warsh was sworn in as the 17th head of the Fed on Friday, the first chair to take the oath at the White House since Alan Greenspan in 1987, a venue choice that says plenty about how close this central bank now sits to the executive branch. The optics got stranger from there.