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Summary
At the market US opening bell, we continue our real-time, interactive technical and fundamental analysis of the Forex markets.
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EUR/USD bounces off the lows as the market mood improves
EUR/USD is bouncing toward 1.18, recovering from the fall triggered by upbeat US jobs figures and escalating Sino-American tensions. Investors are eyeing the fiscal stimulus impasse in Washington after Trump's executive order and the market mood has somewhat improved.
USD/JPY struggles to find direction, stays flat below 106.00
The broad-based USD strength witnessed during the first half of the day helped the USD/JPY pair advance to its highest level in nearly a week at 106.21.
GBP/USD recovering toward 1.31 as the dollar weakens
GBP/USD has recovered toward 1.31 as the dollar pares early gains amid the impasse in Washington over new fiscal stimulus. A survey showing that a third of UK employers may lay off workers is weighing on the pound.
XAU/USD retreats to $2030 after making a run to $2050
Gold prices spiked to the upside after the beginning of the American session but then pulled back erasing gains. XAU/USD jumped to $2049.70/oz, and as of writing, it trades at $2033, practically at the same level it closed on Friday.
WTI: $42.30 is the level to beat for the bulls
WTI (futures on Nymex) climbed nearly 1.50% in a bid to test the $42 mark on Monday, in the wake of the upbeat outlook painted by Saudi Aramco’s CEO Nasser and expectations that Iraq will cut output in August.