As Asian session unfolded, the forex markets have been relatively quiet. Precious metals, on the other hand, are making headlines with Gold soaring above new record high above 2350 mark and Silver also rallies significantly. Nikkei is having a notable rebound even though 40k psychological level could remain a strong resistance to cap upside. Oil prices dip slightly on news that Israel is withdrawing more soldiers from southern Gaza, but the retreat is so far limited.
The Eurozone Sentix Investor Confidence Index rose from -10.5 in March to -5.9 in April, the latest survey showed on Monday, hitting the highest level since February 2022.
Economic confidence and retail sales from the euro area are due on Monday, headlining a light day for the European economic news. At 2.00 am ET, Destatis is scheduled to issue Germany's factory orders and foreign trade figures.
Australian Dollar trades broadly lower in today's Asian session, influenced by notable decline in Hong Kong and Chinese stock markets as driven by selloff in technology stocks in these regions. Additionally, there is growing investor caution ahead of impending economic data from China, which is anticipated to highlight deepened deflation and challenges in the export sector. This cautious sentiment has led to Australian Dollar being the weakest performers so far, with Swiss Franc, British Pound, and Kiwi following.