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EUR/USD: Not out of the woods yet, remains vulnerable to slide further
EUR/USD is seen consolidating in a narrow range through the Asian session on Monday. The formation of a downward-sloping channel on the daily chart favours bearish traders. A sustained strength beyond the 1.0700 mark is needed to negate the negative outlook.
GBP/USD struggles to gain any meaningful traction, remains confined in a narrow band
GBP/USD struggles to gain any meaningful traction and oscillates in a narrow trading range. The risk-on impulse is seen undermining the safe-haven USD and lending support to the major. The divergent Fed-BoE policy outlook should keep a lid on any meaningful upside for the pair.
Gold: Will Fed Chair Jerome Powell rescue XAU/USD buyers?
Gold price is trading below $1,840, at its lowest level since March 10, setting off the final quarter of this year on a negative note. The United States Dollar (USD) is consolidating the previous rebound above the 106.00 level against its major peers, underpinned by a fresh upswing in the US Dollar.
DOT confirms trend reversal, eyes retest of $5 after reclaiming key hurdle
Polkadot price seems to be ending its downtrend after shedding 92.91% in the last two years from its all-time high of $55.09. In the last three days, DOT has inflated by 3.3%, breaching a declining trendline and confirming the potential start of an uptrend.
The week ahead - US Nonfarm Payrolls, Tesco and Wetherspoon results
We’ll get the latest US payrolls report for August this week. Having seen the Federal Reserve leave rates unchanged as expected at their recent September meeting the jury remains out as to whether we will see another rate hike at the next meeting in November.