EUR/USD correcting lower, but long term bullish tone intact

AUD/USD keeps the slightly bid bias around 0.7070 ahead of the opening bell in Asia. Indeed, the pair reverses two daily pullbacks in a row, meeting some initial contention around 0.7050 while investors gear up for the release of the RBA Minutes early on Tuesday.
 

EUR/USD is still under pressure, drifting back towards the 1.1850 area as Monday’s session draws to a close. The modest decline in spot comes as the US Dollar picks up a bit of support, while thin liquidity and muted volatility, thanks to the US market holiday, are exaggerating price swings and keeping trading conditions choppy.
 

Gold is giving back part of Friday’s sharp rebound, deflating below the key $5,000 mark per troy ounce as the new week gets underway. Modest gains in the US Dollar are keeping the metal in check, while thin trading conditions, due to the Presidents Day holiday in the US, are adding to the choppy and hesitant tone across markets.

The artificial intelligence (AI) cryptocurrency segment is witnessing heightened volatility, with top tokens such as Near Protocol (NEAR) struggling to gain traction amid the persistent decline in January and February.

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

Major currency pairs traded little changed on Monday as stock and bond markets in the United States (US) remained closed due to the Presidents' Day holiday.