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Forex Today: Market mood turns upbeat to start week
Here is what you need to know on Monday, July 21:
EUR/USD ticks up, yet US tariff uncertainty limits gains
The EUR/USD pair is showing a minor appreciation, with markets remaining cautious in the early European session on Monday.
Pound Sterling consolidates against US Dollar as investors seek fresh US tariff headlines
The Pound Sterling (GBP) trades calmly around 1.3440 against the US Dollar (USD) during the European trading session on Monday.
NZD/USD recovers early lost ground, moves back above mid-0.5900s amid softer USD
The NZD/USD pair reverses a major part of its intraday losses and climbs to the 0.5965 region, or back closer to the daily peak during the early European session on Monday. Spot prices, however, remain confined in Friday's broader range, warranting some caution for aggressive traders.
EUR/GBP weakens to near 0.8650 on tariff tensions
The EUR/GBP cross loses momentum to around 0.8660 during the early European session on Monday. The Euro (EUR) softens against the Pound Sterling (GBP) due to renewed trade tensions between the United States (US) and the European Union (EU) ahead of the tariff deadline on August 1.
USD/CHF Price Forecast: Bearish outlook remains in play near 0.8000
The USD/CHF pair drifts lower to around 0.8010 during the early European session on Monday. Concerns over the economic impact of higher US tariffs keep investors on edge and boost the Swiss Franc (CHF), a traditional safe-haven currency.
Crude Oil price today: WTI price bullish at European opening
West Texas Intermediate (WTI) Oil price advances on Monday, early in the European session. WTI trades at $66.22 per barrel, up from Friday's close at $65.98.Brent Oil Exchange Rate (Brent crude) is stable, hovering around its previous daily close at $68.58.
GBP/USD Price Forecast: Hovers above 1.3400 despite a persistent bearish bias
The GBP/USD pair edges higher for the second successive day, trading around 1.3420 during the Asian hours on Monday. However, the bearish bias persists as the daily chart's technical analysis indicates that the pair remains within the descending channel pattern.
FX option expiries for Jul 21 NY cut
FX option expiries for Jul 21 NY cut at 10:00 Eastern Time via DTCC can be found below.
US Dollar Index softens to below 98.50 on trade jitters
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, edges lower to near 98.45 during the early European session on Monday.
Japan's Ishiba: Election was a harsh judgment on LDP government
Japanese Prime Minister Shigeru Ishiba on Monday apologized to the ruling Liberal Democratic Party (LDP) for the election loss, adding that he will continue to govern in coalition with Komeito.
EUR/JPY Price Forecast: Bounces back and aims to reclaim yearly high above 173.00
The EUR/JPY pair claws back a majority of its initial losses and rises to near 172.60 during the late Asian session on Monday after a weak opening around 172.00 earlier in the day.
EUR/USD Price Forecast: Holds steady around 1.1625 area; not out of the woods yet
The EUR/USD pair kicks off the new week on a subdued note and oscillates in a narrow trading band through the Asian session. Spot prices currently trade around the 1.1625 area, nearly unchanged for the day, amid mixed cues.
USD/INR refreshes four-week high as Indian Rupee underperforms
The Indian Rupee (INR) starts the week on a negative note against the US Dollar (USD).
India Gold price today: Gold rises, according to FXStreet data
Gold prices rose in India on Monday, according to data compiled by FXStreet.
Gold price remains confined in a multi-week-old range as bulls seem reluctant
Gold price (XAU/USD) trades with a positive bias for the second consecutive day on Monday, though it lacks bullish conviction and remains confined in a multi-week-old trading range.
Silver Price Forecast: XAG/USD treads water above $38.00, nine-day EMA
Silver price (XAG/USD) holds position after registering mild losses in the previous session, trading around $38.20 per troy ounce during the Asian hours on Monday.
WTI holds positive ground near $66.00, eyes on Russia energy curbs
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $66.05 during the early Asian trading hours on Monday. The WTI gains ground as traders assess the impact of new European sanctions on Russian oil supply.
Australian Dollar remains subdued as PBoC leaves LPRs unchanged
The Australian Dollar (AUD) loses ground against the US Dollar (USD) on Monday, retracing its recent gains from the previous session.
RBNZ Sectoral Factor Inflation Model drops to 2.8% YoY in Q2 2025
The Reserve Bank of New Zealand (RBNZ) published its Sectoral Factor Model Inflation gauge for the second quarter (Q2) of 2025, following the release of the official Consumer Price Index (CPI) by the NZ Stats early Monday.
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