EUR/USD continues to trade sideways at around 1.0750 on Monday. The cautious market mood helps the US Dollar (USD) hold its ground as investors gear up for key macroeconomic data releases and central bank meetings of this week.
GBP/USD clings to modest daily gains above 1.2550 on Monday. October labor market data from the UK and November inflation data from the US will be released on Tuesday ahead of the Fed's and the BoE's policy meetings later in the week.
Bitcoin is likely to experience heightened volatility this week with the upcoming release of November CPI data. BTC price suffered a correction of nearly 4% in the past 24 hours, ahead of the key macroeconomic events scheduled for the week.
As we approach the end of the year, this week holds particular significance for macro observers. The three major central banks, often referred to as the "Big 3" – the Federal Reserve, the European Central Bank (ECB), and the Bank of England (BoE) – are all scheduled to convene.