FXStreet

AUD/USD rises after two days of losses, trading around 0.6890 during Asian hours on Monday. The pair appreciates as the Australian Dollar (AUD) remains stronger following the release of Consumer Price Index (CPI) data from China, Australia’s close trading partner.

The GBP/USD pair gains ground to near 1.3370, snapping the two-day losing streak during the early Asian session on Monday. The British Pound (GBP) strengthens against the US Dollar (USD) on a hawkish-than-expected policy stance from the Bank of England (BoE).

On Friday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7188 compared to the previous day's fix of 6.7168.

China’s Consumer Price Index (CPI) climbed 0.7% in October from a year ago after arriving at a rise of 0.9% in September, the National Bureau of Statistics of China reported on Monday. The market consensus was for 0.8% in the reported period.

EUR/USD gains ground after two days of losses, trading around 1.1150 during Asian hours on Monday.

Gold price (XAU/USD) recovers some lost ground to near $4,100 during the early Asian trading hours on Monday. Speculations that incoming Democrats would push to end the Iran war lift the yellow metal.

West Texas Intermediate (WTI) oil price loses ground after remaining nearly flat in the previous day, trading around $89.60 during Asian hours on Monday.

The NZD/USD pair gathers strength near 0.5560 during the early Asian trading hours on Monday. Markets continue to assess central bank policies and the preliminary results of the New Zealand general election. China’s Consumer Price Index (CPI) inflation report will be released later in the day.

New Zealand’s ruling coalition has a slim majority in preliminary election results, although the outcome remains uncertain as about 14% of the votes have yet to be counted. The final results will determine which political group will govern the country for the next three years.

The AUD/USD pair trades with mild losses around 0.6860 during the early Asian session on Monday. Stronger-than-expected US employment data provide some support to the US Dollar (USD) against the Australian Dollar (AUD).

US President Donald Trump said that it’s “highly unlikely” he will order more strikes on Iran if progress is made in talks over its nuclear program and reopening the Strait of Hormuz, CNN reported on Sunday.

Commerzbank strategists note that Taiwan’s October CPI eased to 2.33% year-on-year, below expectations but still above the Central Bank of the Republic of China’s (CBC) 2% alert threshold. Meanwhile, PPI surged 19.7%, raising concerns over future consumer price pressures.

Silver price consolidates near $50.00, up a minimal 0.19% as the Greenback rallies sharply, posting strong US data. Back-to-back ‘dojis’ indicate that neither buyers nor sellers are in control.