Argentina Trade Balance (MoM) came in at $988M, above forecasts ($690M) in July
Author

FXStreet Team
FXStreet
Author

FXStreet Team
FXStreet
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EUR/USD posts modest gains above 1.1650 in the European session on Monday. The prospect of a US Federal Reserve rate cut at its December meeting on Wednesday keeps the US Dollar undermined across the board, supporting the pair amid strong German Industrial Production data. Eurozone Sentix Investor Confidence data is next in focus.
GBP/USD kicks off the new week on a subdued note and oscillates in a narrow trading band above 1.3300 in European trading on Monday. The pair, however, remains close to the highest level since October 22, with bulls awaiting a sustained strength on a potential dovish Fed verdict due later this Wednesday.
Gold attracts some dip-buying at the start of a new week and stalls Friday's modest pullback from the $4,260 area, or the vicinity of its highest level since October 21. The US Dollar continues with its struggle to attract any meaningful buyers and languishes near a one-month low amid dovish Federal Reserve expectations.
Bitcoin, Ethereum, and Ripple record a minor recovery on Monday, starting the week on a positive note. The retail demand for major cryptocurrencies remains strong despite outflows from Bitcoin and Ethereum Exchange Traded Funds.
Silver just hit a new all-time high. Neither did gold, nor mining stocks. They all reversed on an intraday basis, but silver’s move to new highs makes it still bullish overall, while the almost complete reversals in gold and miners make the latter technically bearish.
Bitcoin, Ethereum, and Ripple record a minor recovery on Monday, starting the week on a positive note. The retail demand for major cryptocurrencies remains strong despite outflows from Bitcoin and Ethereum Exchange Traded Funds (ETFs).