EUR/USD came under renewed bearish pressure and declined to the 1.0500 area in the second half of the day on Monday. Following a quiet start to the week, the 10-year US Treasury bond yield gained traction and climbed to multi-year high of 4.7%, providing a boost to the US Dollar.
GBP/USD turned south and retreated to a fresh daily low below 1.2150 in the American session. The US Dollar continues to outperform its rivals after the better-than-expected ISM September Manufacturing PMI data and rising bond yields, forcing the pair to stay on the back foot.
Spot Gold fell to a fresh multi-month low of $1,827.11 a troy ounce on Monday amid resurgent US Dollar demand. The Greenback suffered a minor setback at the beginning of the week, as generally encouraging Chinese data and upbeat United States (US) news underpinned the mood.
With the start of 2023’s fourth quarter, things are finally getting interesting in crypto. While the next 12 weeks are extremely important, let’s start by focusing on what to expect this week.
Nio (NIO) stock dropped 2.3% on Monday morning despite meeting its quarterly delivery target for the third quarter. Tesla's (TSLA) Q3 production and delivery decline is the culprit.