A software bug at Boeing (BA) cost the Dow Jones Industrial Average (DJIA) more points than a record $150 billion buyback at Nvidia (NVDA) put back. The index closed just under 51,500 on Monday, handing back about two-thirds of Friday's rally.
Gold (XAU/USD) begins the week on the back foot, tanking over 3.4% on Monday as US Treasury yields soar and Oil prices remain elevated despite falling from daily highs amid mixed news headlines about a potential US-Iran deal. The XAU/USD trades at $4,139 after peaking at $4,280.
USD/JPY trades little changed around 157.25 on Monday as the US Dollar (USD) also holds steady near recent highs, with traders weighing Middle East developments and the risk of Japanese intervention.
The US Dollar (USD) has stated the week with slight gains, resuming its recent uptrend and leaving behind Friday’s hiccup.
US Treasury yields climb on Monday as energy prices remain high, amid US President Donald Trump's rejection of a peace agreement with Tehran.
President Donald Trump's rejection of Iran's seven-day plan for the Strait of Hormuz lifted Crude Oil to its best level since Thursday, and the whole rise was gone after a Saudi pipeline restart and a US offer of sanctions relief.
Federal Reserve (Fed) Governor Lisa Cook said in a speech in Oakland, California, that the number and magnitude of future adjustments to the Fed funds rate will depend on inflation and labor market data.
Al Jazeera reported on Monday that US President Donald Trump is prepared to ease sanctions on Iran and to unfreeze its assets in exchange for progress on nuclear talks.
Rabobank’s RaboResearch Global Economics & Markets FX Strategy team notes that USD net long speculative positions were broadly unchanged, with both longs and shorts rising modestly. The Federal Reserve raised its overnight policy rate by 25bp on September 16, matching expectations.
The Pound Sterling (GBP) registers modest gains of 0.18% on Monday even as US Treasury yields soar, with the US 10-year T-note rising over 10 basis points, underpinning the Greenback. At the time of writing, the GBP/USD pair trades at 1.3252.
Silver (XAG/USD) falls around 5% on Monday, slipping to its lowest level since early August.
Rabobank highlights that GBP net short positions have risen over 40%, reaching their highest level since August. The Bank of England kept the Bank Rate unchanged at 3.75% on September 18, in line with expectations.
EUR/USD trades on the back foot on Monday, pressured by a stronger US Dollar (USD) as the US-Iran stalemate keeps Oil prices elevated, pushing US Treasury yields higher and strengthening expectations of further Federal Reserve (Fed) rate hikes.
Rabobank points out that AUD net short positions have increased for a second week, reaching their highest level since December 2025.
Rabobank’s FX Strategy team observes that CAD net shorts have risen again after a recent collapse. USD/CAD has continued to grind higher, gaining 2.77% from recent lows to 1.414, with the 14‑day RSI indicating overbought conditions.
EUR/GBP edges lower on Monday as the British Pound (GBP) attracts buyers after recent weakness, with hawkish remarks from Bank of England (BoE) Deputy Governor Dave Ramsden lending it further support. At the time of writing, the cross trades around 0.8564, down 0.40%.
European Central Bank (ECB) President Christine Lagarde said on Monday the bloc's economy continued to expand broadly across countries and sectors, with manufacturing and the labour market holding up well.
Brown Brothers Harriman’s Elias Haddad notes that rising global bond yields, driven by a rebound in Oil prices and uncertainty around US-Iran talks, are making Treasuries more attractive than equities.
TD Securities economists Oscar Munoz and Eli Nir see an October Federal Reserve hike as increasingly likely, with Fedspeak remaining hawkish and officials “expecting more hikes.” They highlight strong PCE inflation, modest ISM Manufacturing gains, and a softer September NFP with higher unemployment.
AUD/USD trades around 0.7020 on Monday at the time of writing, virtually unchanged on the day.
USD/CAD extends its rally on Monday as diverging monetary policy outlooks between the Federal Reserve (Fed) and the Bank of Canada (BoC) keep the US Dollar (USD) favoured, outweighing support for the commodity-linked Canadian Dollar (CAD) from higher Oil prices.
The United States (US) and Iran are expected to resume indirect talks as early as Monday or Tuesday, according to an official briefed on the negotiations cited by Reuters.
The Aussie Dollar (AUD) trades practically flat around 1.2390 against the New Zealand Dollar (NZD) on Monday, with all eyes on the Reserve Bank of Australia (RBA), which is expected to hike interest rates on Tuesday.
United Kingdom (UK) Chancellor of the Exchequer John Healey said during the European trade on Monday that the administration will maintain control of Britain's finances while speaking about the upcoming fiscal budget this year.
The British Pound (GBP) trades higher against its major currency peers, except the Japanese Yen (JPY) on Monday. In the European trade, the British currency is up 0.13% to near 1.3256 against the US Dollar (USD).
Lee Hardman at MUFG highlights that Oil has been one of the biggest movers, with prices rising back towards recent highs around USD110/barrel.
The Euro (EUR) is dropping sharply against the British Pound (GBP) on Monday, with EUR/GBP bears testing support at the 0.8570 area, reversing last week's gains in a day following rejection at the 0.8610 resistance area.
The Deutsche Bank Early Morning Reid details a sharp rise in US Treasury yields, with the 10-year reaching its highest level since 2007 and the 30-year touching levels last seen in 2004. The move is driven by strong data and increased odds of a Federal Reserve hike in October.
Gold (XAU/USD) remains under strong selling pressure on Monday, down over 3.5% as elevated Oil prices reinforce expectations of further Federal Reserve (Fed) interest rate hikes. At the time of writing, XAU/USD trades around $4,121, its lowest level since August 5.
The Indian Rupee (INR) starts the week on a negative note against the US Dollar (USD) due to significant gains in oil prices over the weekend. As of writing, the USD/INR pair is up 0.18% to near 95.99.
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