The EUR/USD is trading around 1.1620, up on the day and recovering its early losses. Hopes for a compromise within Germany's coalition on the hit topic of migration is helping the pair recover. ECB President Draghi will open the week-long Sintra conference later.
The GBP/USD is trading down 0.2% at around 1.3255 against the US Dollar as the political pressure on the UK Prime Minister Theresa May increased leaving her explaining how she is going to finance the National Health System with additional £384 million.
The US Dollar is trading down 0.1% changing hands at 110.55 against the Japanese Yen as the data-empty Monday is set to see only central bankers speaking with current trends taking a breather after last week’s action.
ECB President Mario Draghi delivers the opening remarks by the at the ECB Forum on Central Banking in Sintra, Portugal at 19:00 GMT.
Bitcoin price analysis: BTC/USD is rangebound after the calm weekend; hacked BitGrail lost its Bitcoins
BTC/USD is changing hands at $6,430, down 1.5% on daily basis. The digital coin No. 1 is rangebound after strong movements during the previous week.
Ripple price analysis: XRP/USD on the verge of another breakout; xRapid pilot reveals potential $16.5 billion in global savings
Ripple price is backed to a tight corner below $0.52 but weakly supported above $0.51. Over the weekend the crypto utilized the support created at $0.
EOS/USD is changing hands at $10.12, off the recent low reached on June 13 at $9.08. The coin is down 3.7% on daily basis, and down 1.4% since the start of the day. EOS market value is registered at $9.2B with average daily trading volumes $500M, three times lower than on June 14.
NEO is now 12th digital coin with a market cap $2.4B. It is changing hands at $37.16, down 3.3% since the beginning of the day. The coin touched $35.73 low on June 13 and has been trading with bearish bias since that time, despite a short-term recovery.
The world’s most important central bankers gather in Sintra, Portugal for the annual symposium organized by the ECB.
With little-to-no macro news due on Monday, the sentiment and the central bankers' speeches are set to take over.Read Full Report
A hawkish Fed and a dovish ECB made the EUR/USD pair collapse toward weekly lows
What a week! Things moved in slow motion until Thursday across the FX board, but intense headlines kept coming pretty much since the week started. The dollar refused to surge despite encouraging local data, as speculative interest wanted to asses all the first-tier events before making up their minds one way or the other.
The EUR/USD is still licking its wounds from the one-two punch dealt by Draghi and Powell last week but may have a hard time to recover.
The Technical Confluences Indicator shows that the 1.1596 is a dense cluster of resistance lines, the Bolinger Band 15m-Middle, the Simple Moving Average 10-4h, the SMA 10-15m, the SMA 5-15m, the Fibonacci 38.2% one-day, and the Bolinger Band 15m-Upper.
Should the pair overcome this level, 1.1650 poses the next challenge as it is the convergence of the potent Fibonacci 23.6% one-month and the Pivot Point one-day Resistance 1. The most significant resistance line is at 1.1729 which is the confluence of the SMA 10-one-day, the Pivot Point one-day Resistance 3, and the Fibonacci 38.2% one-month.