EUR/USD
EUR/USD breaks its three-day losing streak, trading around 1.1050 during the early Monday. The upside of the EUR/USD pair could be attributed to the tepid US Dollar following the dovish sentiment surrounding the US Federal Reserve.
GBP/USD
The GBP/USD pair gains ground around 1.3135, snapping the three-day losing streak during the early Monday. In the absence of top-tier economic data releases from the UK this week, the USD price dynamic will be the main driver for the GBP/USD.
USD/JPY
The Japanese Yen (JPY) remains stable against the US Dollar (USD) after the release of July’s US Personal Consumption Expenditures (PCE) Index data, which led traders to scale back expectations of an aggressive Federal Reserve rate cut in September.
AUD/USD
The Australian Dollar (AUD) experiences volatility against the US Dollar (USD) following the release of key economic data on Monday. However, improved risk sentiment could limit the downside of the risk-sensitive AUD, as dovish expectations surrounding the US Federal Reserve (Fed) continued to rise.
NZD/USD
The NZD/USD pair extends the rally near 0.6260 during the early European session on Monday. The pair shows further gains on the early European session, bolstered by firmer speculation that the Federal Reserve (Fed) will start easing its monetary policy in September.
USD/CAD
USD/CAD retraces its recent losses, trading around 1.3500 during the Asian session on Monday. This upside is attributed to the tepid commodity-linked Canadian Dollar (CAD) following the lower crude Oil prices. Given the fact that Canada is the largest Oil exporter to the United States (US).
USD/CHF
The USD/CHF pair extends its recovery around 0.8480 on Monday during the early European trading hours. The uptick of the pair is supported by the stronger US Dollar (USD) after the stronger-than-expected US growth number.
CRUDE OIL
Oil prices extended losses on Monday on expectations for higher OPEC+ production starting in October and as signs of sluggish demand in China and the U.S., the world’s two largest oil consumers, raised concerns about future consumption growth.
Gold price extends losses to a six-day low below $2,500 early Monday. The US Dollar looks to build the recovery amid light trading and a cautious mood.
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