The greenback ended lower across the board on Monday due to continued deadlock in U.S. stimulus negotiations between the Democrats and Republicans and as investors remained cautious ahead of Wednesday's release of Federal Reserve meeting minutes for clues about anticipated shift in the policy outlook.
Versus the Japanese yen, dollar met renewed selling at 106.65 in New Zealand and fell to 106.47 in Asian morning on usd's weakness. Despite rebounding to 106.62, the pair later dropped to session lows of 105.95 in New York due to usd's broad-based weakness as well as selloff in U.S. Treasury yields.
The single currency went through a roller-coaster ride as despite initial rise from 1.1834 in New Zealand to 1.1868 shortly after European open, the pair dropped to session lows at 1.1830 before rising to a 9-day high of 1.1880 in New York morning on usd's weakness and then weakened again to 1.1858 on profit-taking and traded at 1.1869 near the close.
Although the British pound moved narrowly in Asia and rebounded from 1.3085 to 1.3121 in European morning, price then fell to session lows at 1.3074 on cross-selling in sterling before rebounding in tandem with euro to 1.3112 in New York on usd's weakness and then traded broadly sideways.
Data to be released on Tuesday :
New Zealand GDT price index, and U.S. building permits, housing starts, redbook.
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.
Recommended Content
Editors’ Picks
EUR/USD retreats toward 1.0850 on modest USD recovery
EUR/USD stays under modest bearish pressure and trades in negative territory at around 1.0850 after closing modestly lower on Thursday. In the absence of macroeconomic data releases, investors will continue to pay close attention to comments from Federal Reserve officials.
GBP/USD holds above 1.2650 following earlier decline
GBP/USD edges higher after falling to a daily low below 1.2650 in the European session on Friday. The US Dollar holds its ground following the selloff seen after April inflation data and makes it difficult for the pair to extend its rebound. Fed policymakers are scheduled to speak later in the day.
Gold climbs to multi-week highs above $2,400
Gold gathered bullish momentum and touched its highest level in nearly a month above $2,400. Although the benchmark 10-year US yield holds steady at around 4.4%, the cautious market stance supports XAU/USD heading into the weekend.
Chainlink social dominance hits six-month peak as LINK extends gains
-637336005550289133_XtraSmall.jpg)
Chainlink (LINK) social dominance increased sharply on Friday, exceeding levels seen in the past six months, along with the token’s price rally that started on Wednesday.
Week ahead: Flash PMIs, UK and Japan CPIs in focus – RBNZ to hold rates
After cool US CPI, attention shifts to UK and Japanese inflation. Flash PMIs will be watched too amid signs of a rebound in Europe. Fed to stay in the spotlight as plethora of speakers, minutes on tap.