Gold (XAU/USD) edges higher on Monday, recovering part of Friday’s selloff from record highs around $4,380. At the time of writing, XAU/USD is trading around $4,313 during the American session, up nearly 1.50% on the day.

West Texas Intermediate (WTI) Crude Oil continues to lose ground on Monday, pressured by a firmer US Dollar (USD) and persistent concerns over weakening global demand.

EUR/GBP trades slightly higher at 0.8690, up 0.12% for the day on Monday at the time of writing, as investors remain cautious amid rising fiscal uncertainty in the United Kingdom (UK).

With the exception of Japan, where the BoJ is engaged on a policy tightening cycle, Sweden is the only G10 economy for which the market sees no real risk of further central bank easing on a 1-year view, Rabobank's FX analyst Jane Foley reports.

Canada Raw Material Price Index: 1.7% (September) vs -0.6%

Canada Industrial Product Price (MoM): 0.8% (September) vs 0.5%

GDP growth eased to 4.8% yoy in Q3 but it would still put China’s economy on track to meet the 5% official target. Growth was mainly supported by strong exports as household consumption slowed and fixed investment faltered, Commerzbank's economist Tommy Wu reports.

Markets remain broadly risk-off amid elevated valuations and persistent geopolitical risks, prompting asset allocators to reassess country and sector exposures for potential corrections, BNY's FX analysts report.

USD/CAD remains firm above 1.4000 as attention turns to the Bank of Canada’s Q3 Business Outlook Survey.

USD/CAD trades slightly higher on Monday, up 0.10% for the day to around 1.4030 at the time of writing.

The Pound Sterling (GBP) underperforms a majority of its peers at the start of the week. The British currency faces pressure as investors turn cautious ahead of the United Kingdom (UK) Consumer Price Index (CPI) data for September, which will be released on Wednesday.

EUR/USD remains practically flat on Monday's early European opening, trading at 1.1665 at the moment of writing.

The USD/JPY pair trades marginally higher to near 150.80 during the European trading session on Monday.

The New Zealand Dollar’s recovery attempt seen after the release of hotter New Zealand inflation figures and upbeat Chinese data has been limited below 0.5750, and the pair trimmed gains shortly afterwards, returning to 0.5725 during Monday’s European session.Price pressures accelerated to a 3% year

NZD/USD is directionless just above last week’s cyclical low of 0.5683. New Zealand Q3 CPI was mixed, BBH FX analysts report.

USD/CNH is stable around 7.1260 and the Hang Seng China Enterprises Index rose 2.4%. The Central Committee of the Communist Party kicked off its four-day conclave - known as the Fourth Plenum - to set the nation’s economic and technological goals over the next five years.

USD/JPY recovered to 150.75 after dropping briefly under 149.50 on Friday, BBH FX analysts report.

This week, the EU heads of state and government are gathering in Brussels. A central topic of discussion will be the European Union's rearmament efforts, aiming for Europe to be fully defense-capable, i.e. militarily independent from the United States by 2030.

Gold price (XAU/USD) trades in a tight range around $4,250.00 during the European trading session on Monday. The precious metal stabilizes after Friday’s corrective move, which pushed it lower from the all-time high of $4,380 to near $4,200.

The US Dollar (USD) is trading near the middle of its multi-month range as markets price a more dovish Fed easing trajectory.

Concerns about the health of regional banks and the broader quality of credit in the US remain very central for FX markets, ING's FX analyst Francesco Pesole notes.

The Central Bank of Turkey's (CBT’s) latest monthly survey revealed a worsening picture of inflation expectations, with market participants now anticipating an end-2025 inflation rate of 31.8%.

The pound could face renewed downside this week as UK services inflation is expected to undershoot the Bank of England’s forecast, adding a dovish tilt to rate expectations.

With Europe battling fiscal fragility, the US facing valuation risks, and China confronting disinflation, the Swiss franc may again prove resilient.

The Indian Rupee (INR) trades higher against the US Dollar (USD) at the start of the holiday-shortened week on Monday. Indian currency markets will remain closed on Tuesday and Wednesday on account of Diwali Laxmi Pujan and Balipratipada, respectively.

The eurozone calendar is empty until Friday’s PMI and EUR/USD moves will primarily depend on market sentiment about the US credit market. What is important to note is that EUR/USD is spot on its short-term fair value (1.167) despite the recent rally, ING's FX analyst Francesco Pesole notes.

Energy ministers from the European Union (EU), in a meeting at Luxemburg on Monday, agree on a joint position to ban imports of gas supplies from Russia by the end of 2027, Bloomberg reported.

In retrospect, last week saw a continuation of the Pound Sterling (GBP) performance throughout the year. There was a wealth of interesting news, including new data, speeches by Bank of England officials and statements by the finance minister.

Q3 GDP growth beat market expectations on resilient exports and robust production. Domestic demand weakened in Q3, led by plunging investment, Standard Chartered's economists report.

Silver price (XAG/USD) edges higher after registering more than 4.25% losses in the previous session, trading around $52.00 per troy ounce during the European hours on Monday. The price of the precious Silver plunged as investors booked profits after reaching a record high of $54.86 on October 16.