**Monday Levels: Indicative FX Prices for October 13, 2025 — Some TACO Moves Filtering Through**
*Original reporting credit: Justin Low, ForexLive/TradingView News Desk*
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**Overview**
The start of the FX trading week finds major currency pairs navigating a landscape shaped by macroeconomic uncertainty, central bank policy speculation, and shifting global risk sentiment. Monday’s indicative price levels show notable shifts across the G10 currencies as the market digests last week’s developments and braces for upcoming data and central bank rhetoric. Notably, attention is growing around “TACO” trades—an acronym for trading strategies that seek to Take Advantage of Central bank Overreactions—as investors position ahead of potential monetary policy surprises.
In this comprehensive update, we will break down the current indicative FX price levels as of early Monday, October 13, 2025, analyze key drivers behind today’s moves, and discuss the tactical implications for major currencies. We will also assess how TACO trades are filtering through the market, potentially setting the tone for a busy week.
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**Indicative FX Prices on Monday, October 13, 2025**
Here are opening indications for key FX pairs, as provided by the ForexLive/TradingView desk:
– Euro/US Dollar (EUR/USD): 1.0762
– US Dollar/Japanese Yen (USD/JPY): 150.59
– Great British Pound/US Dollar (GBP/USD): 1.2556
– US Dollar/Swiss Franc (USD/CHF): 0.9158
– Australian Dollar/US Dollar (AUD/USD): 0.6449
– US Dollar/Canadian Dollar (USD/CAD): 1.3652
– New Zealand Dollar/US Dollar (NZD/USD): 0.6004
Comparable levels also hold for the following commonly traded emerging market pairs:
– Euro/Turkish Lira (EUR/TRY): 36.062
– US Dollar/Chinese Yuan Offshore (USD/CNH): 7.3125
– US Dollar/South African Rand (USD/ZAR): 19.2150
Most pairs show only minor price movement upon the open relative to Friday’s closing levels, reflecting a typical start for a Monday session absent of major weekend catalysts. However, pockets of volatility are emerging as Asian liquidity enters the market and as investors reposition ahead of a packed data calendar.
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**Key Drivers of Monday’s Indicative FX Pricing**
Several headline macro themes are influencing indicative price levels on Monday. Here are the leading factors:
*1. Central Bank Policy Path Uncertainty*
– Recent rhetoric from US Federal Reserve officials has kept traders on edge regarding the timing of the first rate cut. Markets have oscillated between expectations for a cut in late Q4 2025 or a possible deferral into 2026.
– The European Central Bank’s (ECB) hesitancy to commit to further easing, especially as inflation remains somewhat sticky, is anchoring the EUR/USD near recent lows.
– Soft economic activity data from the UK last week put renewed pressure on the GBP, with markets now split on whether the Bank of England will delay any easing.
– The Bank of Japan’s reluctance to end ultra-loose monetary policy keeps the yen firmly anchored near 150 per dollar.
*2. Risk Sentiment and Geo-Political Developments*
– Global equities remain in choppy territory, reacting to persistent inflation, Chinese economic figures, and tensions in the Middle East.
– Safe-haven flows remain a tailwind for the US dollar and Swiss franc in the short term.
– Emerging market FX, including the South African rand and Turkish lira, are under modest pressure due to global growth worries and capital outflows.
*3. Commodity Prices and Trade Flows*
– Crude oil prices pulled back from recent highs, weighing slightly on the Canadian dollar and benefiting oil-importing economies.
– Weakness in base
Read more on GBP/USD trading.