The Japanese yen traded slightly higher on Monday while the Chinese yuan slipped ahead of the U.S.-China trade talks this week.
According to a few reports, China might be reluctant to agree to a broad deal pursued by the U.S.
As a result, the Japanese yen, which is considered as a safe haven, rose by 0.1% to 106.79 per dollar.
On the other hand, the Chinese yuan is the most exposed currency in this trade-war conflict, fell by 0.3% to 7.1356 per dollar.
Similarly, other currencies such as the Korean won and the Australian dollar slipped due to doubts that not much will be achieved during trade negotiations this week.
Global markets have been quite turbulent this year, and the weak economic data in the U.S., Europe and China confirm the same.
Separately, the Pound Sterling saw minimal movement at $1.2325 as uncertainties over Brexit are keeping investors on the sideline.
As less than 24 days remain before the U.K. is due to leave the EU, Boris Johnson is still looking to solve the Irish border issue that could help to push the U.K. out of E.U. on October 31.
Oil Prices Going Down
Oil prices continue with its downward trend on Monday as traders fear for a global economic slowdown.
Brent crude futures dropped by 28 cents to $58.09 a barrel, and the U.S. West Texas Intermediate crude edged down by 17 cents to $52.64.
Last week, both contracts dropped by approximately 5% after data revealed poor manufacturing figures from China and the U.S.
Moreover, after the drone attack on Saudi Arabia's oil facilities, the kingdom resumed production quite rapidly; thus adding downward pressure on oil prices.
However, the tension in the Middle East remains and can push oil prices either way.
German Industrial Orders Fall
Data revealed that German industrial orders did not perform as expected in August following low domestic demand and the fact that manufacturers in Germany are going through a tough third quarter with all the economic turmoil around the world.
Consequently, contracts for 'Made in Germany' products fell by 0.6% from the previous month as demand for capital goods also dropped by 1.6%. Experts were expecting a fall of around 0.3%.
However, the data for July was revised up to a fall of 2.1% from a previously reported 2.7% decrease.