Early indications for the FX market this week
- Euro (EUR/USD): 1.1392, +0.0025 (+0.22%) — modest firming to kick off the week, holding within Friday’s 1.1386-1.1399 range
- Japanese Yen (USD/JPY): 163.67, -0.17 (-0.1%) — small pullback from the 163.84 close, still hovering near recent highs
- British Pound (GBP/USD): 1.3332, +0.0013 (+0.1%) — a touch firmer, sitting right at Friday’s high
- Swiss Franc (USD/CHF): 0.8162, -0.0019 (-0.23%) — the biggest mover of the morning, franc bid as dollar softens against it
- Canadian Dollar (USD/CAD): 1.4083, -0.0009 (-0.06%) — barely budged, loonie steady just under 1.41
- Australian Dollar (AUD/USD): 0.7002, +0.0023 (+0.33%) — leading the risk-currency gains, back above the 0.70 handle
- New Zealand Dollar (NZD/USD): 0.5804, +0.0017 (+0.29%) — tracking the Aussie higher, extending off Friday’s 0.5787 close
There are some nice moves so far in AUD, NZD and EUR as the Iran war pauses. The oil market will open at the top of the hour and weekend markets are showing a 3% decline. The price action in FX so far validates that but it could change at any minute as the US and Iran remain far away from a lasting peace.
