Singapore Manufacturing PMI unchanged at 50.3 in January

Brazil S&P Global Manufacturing PMI fell from previous 47.6 to 47 in January

Bob Savage, Head of Markets Macro Strategy at BNY, notes the Australian Dollar's potential as the Reserve Bank of Australia (RBA) is expected to hike rates this week due to rising inflation.

The Euro (EUR) has turned negative against the US Dollar (USD) on Monday, and is trading at 1.1845 at the time of writing, despite rather positive data from the Eurozone.

Gold (XAU/USD) is trimming some losses on Monday after the sharp bearish correction witnessed on Friday and Monday’s Asian session. The precious metal has returned to levels near $4,800, trading at $4,766 at the time of writing, but still about 15% below Thursday's highs above $5,600.

According to Brown Brothers Harriman (BBH) analysts, USD/JPY has retraced about 50% of last week’s decline and is trading just under 155.00. The Bank of Japan's recent policy meeting reinforced a cautious hiking bias, with a base case for another rate hike expected at the April 28 meeting.

South Africa Total New Vehicle Sales: 50073 (January) vs 48983

Gold (XAU/USD) stabilises on Monday with dip-buying interest emerging after a sharp correction from last week’s surge to fresh all-time highs near $5,600. At the time of writing, XAU/USD trades around $4,770, recovering after an intraday slide of nearly 10% to over three-week lows near $4,402.

This week is critical for the Koruna as central banks in the CEE region prepare for important announcements. Frantisek Taborsky from ING expects mixed signals from PMIs and inflation data that could influence monetary policy.

AUD/USD broke out of a large base last month, triggering an acceleration in the uptrend.

Deutsche Bank Research Analyst Michael Hsueh reiterates its bullish outlook on Gold, maintaining a target price of $6,000 per ounce. The report emphasizes that recent price corrections do not indicate a fundamental shift in investor sentiment.

The Pound Sterling (GBP) outperforms its currency peers at the start of the week, regains ground against the US Dollar (USD) during the European trading session. The GBP/USD pair finds temporary support near 1.3660 and rises slightly above 1.3700 as the US Dollar edges down.

The United States (US) Institute of Supply Management (ISM) Manufacturing Purchasing Managers’ Index (PMI) data for January is scheduled to be published today at 15:00 GMT.

The Global Strategy Team at TD Securities highlights that upcoming employment data will be critical in determining the timing of the Federal Reserve's next rate cut. Key reports include JOLTS on Tuesday, ADP on Wednesday, and the NFP/unemployment numbers on Friday.

The Pound is posting moderate gains against a weaker Japanese Yen, weighed by Prime Minister Takaichi’s comments on Monday. The pair trades right above 212.00 at the time of writing, up from last week’s lows at the 209.60 area, but also below session highs at 212.68.

An opinion poll indicates that the ruling coalition is set to secure a strong victory in the upcoming election, which could support a weaker Yen.

The AUD/USD pair recoups its early losses and rebounds to near its opening price around 0.6960 during the European trading session on Monday. The Aussie pair bounces back as the US Dollar (USD) ticks down, but broadly remains firm.

NZD/USD trades around 0.6030 on Monday at the time of writing, up 0.10% on the day. The pair strengthens amid supportive macroeconomic signals from China, New Zealand’s main trading partner, which underpin the New Zealand Dollar (NZD) against the US Dollar (USD).

The US Dollar holds minor gains on Monday after rallying nearly 1% on Friday against the Canadian Dollar. The pair, however, found sellers at 1.3675 earlier in the day before trimming some gains, and retreated to 1.3630 at the time of writing.

The Indian Rupee (INR) gains against the US Dollar (USD) on Monday, following the Indian government's announcement of the fiscal budget for the Financial Year (FY) 2026-27 on Sunday.

Commerzbank's Economic Research report highlights the ongoing struggles of the Chinese economy, with both the manufacturing and services sectors slipping into contraction territory.

The Dollar has shown signs of recovery as precious metals decline, with expectations for positive data this week. ING analysts anticipate a decent payroll report, which could support further Dollar strength.

Silver prices (XAG/USD) fell on Monday, according to FXStreet data. Silver trades at $77.45 per troy ounce, down 7.13% from the $83.40 it cost on Friday.

United Kingdom S&P Global Manufacturing PMI above expectations (51.6) in January: Actual (51.8)

Silver price (XAG/USD) extends its losses after declining by 28.45% in the previous session, trading around $77.80 per troy ounce during the European hours on Monday.

The Euro is practically flat against the Yen on Monday. trading at 183.55 at the time of writing.

The Early Morning Reid Macro Strategy report from Deutsche Bank reveals that Silver experienced its largest daily fall since 1980, dropping 26.36%.

Austria Unemployment Rate climbed from previous 8.4% to 8.8% in January

Austria Unemployment: 379.8K (January) vs 363K

Societe Generale's report argues the European Central Bank (ECB) is likely to maintain interest rates amidst mixed inflation signals. The report highlights that euro area inflation is expected to dip slightly below target in January, with a forecast of 1.8%.