The Pound Sterling (GBP) recovers its entire intraday losses and climbs above 1.2500 against the US Dollar (USD) in Monday’s North American session.

Gold’s price (XAU/USD) slips below $2,770 at the time of writing on Monday after a very nervous headline-filled weekend. Meanwhile the week ahead is filled with quite a few central bank's rate decision . Over the weekend, markets understood why

The US Dollar Index (DXY), which tracks the performance of the US Dollar against six different major currencies, edges slightly lower and trades around 107.10 at the time of writing on Monday despite some earlier safe-have inflows during the Asian session.

Mexico Trade Balance, $ rose from previous $-0.133B to $2.567B in December

Mexico Trade Balance s/a, $ climbed from previous $-0.775B to $-0.684B in December

West Texas Intermediate (WTI), futures on NYMEX, gains a firm-footing near $74.00 in Monday’s European session.

EUR net short positions have increased, driven by an increase in short positions. GBP net positions have turned short for the first time since May 2024, driven by a decrease in long positions, Rabobank's FX analysts jane Foley and Molly Schwartz note.

Canadian Dollar (CAD) net short positions have decreased for the second week in a row, driven by a decrease in short positions.

USD/SGD fell, tracking broader moves in the USD. USD/SGD fell; last seen trading at 1.3428, OCBC's FX analysts Frances Cheung and Christopher Wong note.

US Dollar (USD) net long positions have increased for the fifth consecutive week, driven by a decrease in short positions, Rabobank's FX analysts jane Foley and Molly Schwartz note.

EUR/USD resumes its upside journey and rebounds to near 1.0500 in Monday’s European session and is on track to break above the six-week high of 1.0520.

The AUD/USD pair recovers some intraday losses after sliding to near 0.6270 in Monday’s European session, but is still down almost 0.2%.

USD/JPY was a touch softer, tracking UST yields lower while BoJ MPC (last Friday) hinted at continued policy normalization. Pair was last seen at 154.05, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Friday's price action – particularly in GBP/USD – had all the hallmarks of a short squeeze, ING's FX analyst Chris Turner notes.

Oil prices saw their first weekly decline of the year with ICE Brent settling a little more than 2.8% lower last week. And this downward pressure has continued in early morning trading today. The tariff story has become an increasing concern for the market.

Prelim services PMI’s downside surprise was the latest driver to weigh on USD, which has been down for most of last week amid unwinding of trump trade after markets were disappointed with no immediate tariffs.

The weekend saw the US successfully use the threat of import tariffs against Colombia to secure its policy aim of returning illegal immigrants.

Recent ECB-speaks remain dovish and continued to point to measured pace of rate cut with no hint of a larger magnitude of rate cut. EUR/USD was last seen trading at 1.0485, OCBC's FX analysts Frances Cheung and Christopher Wong note.

EUR/USD briefly nudged above 1.05 on Friday on news that Washington may potentially not be as aggressive on China tariffs as first thought, ING's FX analyst Chris Turner notes.

Gold rose close to a record high late last week after Donald Trump signalled a less aggressive approach to China, ING's commodity analysts Warren Patterson and Ewa Manthey note.

Silver prices (XAG/USD) fell on Monday, according to FXStreet data.

Gold price (XAU/USD) attracts some selling at the start of a new week and moves away from the vicinity of the all-time peak, or its highest level since late October, around the $2,786 region touched on Friday.

“China will receive people who are confirmed as Chinese nationals from the mainland after verification,” Bloomberg reported, citing Chinese Foreign Ministry spokeswoman Mao Ning on Monday Mao responded when asked if Beijing would take back citizens living without documentation in the US.

GBP/JPY retraces its recent gains registered in the previous session, trading around 193.30 during the European hours on Monday.

Germany IFO – Expectations above expectations (84) in January: Actual (84.2)

Germany IFO – Current Assessment registered at 86.1 above expectations (85.4) in January

The headline German IFO Business Climate Index increased to 85.1 in January from 84.7 in December.

Germany IFO – Business Climate came in at 85.1, above forecasts (84.6) in January

NZD/USD has given up its recent gains from the previous two sessions, trading around 0.5680 during European hours on Monday.

EUR/GBP recovers its daily losses, trading near 0.8410 during early European hours on Monday.