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Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.
The GBP/USD pair struggles to capitalize on last week's strong move higher and oscillates in a narrow band, around the 1.3350 area during the Asian session on Monday. Moreover, spot prices remain below a technically significant 200-day Simple Moving Average, warranting caution before positioning for an extension of the recent recovery from the 1.3140 zone, or the year-to-date low touched in June.
The EUR/USD pair kicks off the new week on a subdued note and oscillates in a narrow band below mid-1.1400s during the Asian session. Spot prices, however, remain within striking distance of a nearly two-week high, touched last Thursday, amid mixed fundamental cues.
Gold struggles to capitalize on its strength beyond $4,200 and retreats slightly from a two-week high touched in the Asian session on Monday. The US Dollar edges lower amid persistent geopolitical uncertainties stemming from tensions in the Strait of Hormuz, acting as a headwind for the bullion. However, receding Fed-hike bets might hold back USD bulls and help limit the downside for the non-yielding yellow metal.
Dollar drops on NFP, but rate hike still expected by year-end. ISM services PMI and Fed minutes are the greenback’s next catalysts. RBNZ expected to raise rates, focus will be on forward guidance. ECB minutes, China CPI and Canada’s jobs report also on the agenda.
Financial markets came to Sintra looking for clues about the Federal Reserve's (Fed) next move. They largely left with confirmation that Fed Chair Kevin Warsh intends to make those clues much harder to find.
