EUR/USD was supported by risk-sentiment during yesterdays' session rising back above the 1.09 mark with US retail sales not sending any firm signals, Danske Bank's FX analyst Jens Nærvig Pedersen reports.
Copper rose to a near-five-month high at the start of the week after China unveiled a special action plan to revive consumption, boosting sentiment in the commodities complex, ING's commodity experts Ewa Manthey and Warren Patterson note.
European natural gas prices came under pressure yesterday, falling almost 2.5% on the day, amid hopes of a Russia-Ukraine peace deal, ING's commodity experts Ewa Manthey and Warren Patterson note.
Oil prices rose yesterday amid rising tensions in the Middle East, continuing the strength seen at the end of last week, ING's commodity experts Ewa Manthey and Warren Patterson note.
Chance for Pound Sterling (GBP) to break above 1.3000 vs US Dollar (USD); overbought conditions suggest it might not be able to maintain a foothold above this level.
US Dollar (USD) continues to trade near recent lows. DXY was last seen trading at 103.26 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Euro (EUR) continued to hold on to gains above 1.09 handle vs US Dollar (USD) on prospects of a peace deal in Ukraine, potential ECB pause (in Apr) and hopes of large German spending.
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, recovers some lost ground to near 103.60 during the early European session on Tuesday.
The USD/JPY rose for the second straight day, climbing past the 149.00 figure late in Monday after US economic data was mixed, following good Retail Sales data and a dismal New York Fed Empire State Manufacturing Index report.
Gold price rises on Monday late in the North American session, hoover near the $3,000 mark for the second straight day, after data from the United States (US) shows the economy is cooling.
The Mexican Peso extended its gains against the US Dollar for the fourth consecutive trading day as Mexican financial markets remained closed due to a national holiday.
EUR/USD extended gains on Monday after the European session, climbing toward the 1.0910 area as bulls made a comeback following a brief corrective phase.
NZDUSD surges above 100-day MA, becoming top gainer against USD. Bulls eye key resistance levels for sustained uptrend. Technical outlook supports further upside potential.
USDCAD shows bearish bias as it breaks key technical levels, including moving averages, retracement levels, and swing areas. Sellers in control below 1.4383 & 1.4402 levels.
Pound Sterling (GBP) retains a firm undertone. Investors are looking ahead to this week’s BoE policy decision and expecting a hold amid still sticky UK price trends, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The Euro (EUR) traded narrowly for most of the overnight session before rallying from the upper 1.08s to retest Friday’s intraday high in the low 1.09 area in a spurt of gains through late morning European trade, Scotiabank's Chief FX Strategist Shaun Osborne notes, Scotiabank's Chief FX Strategist Shaun Osborne notes.
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