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Germany IFO – Expectations down to 89.5 in January from previous 89.7
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FXStreet Team
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Further weakness in the Greenback motivates EUR/USD to extend last week’s rally and advance to fresh yearly highs just pips away from 1.1900 the figure in quite an auspicious start to the new trading week. Earlier on Monday, Germany’s Business Climate held steady at 87.6 in January according to IFO.
GBP/USD builds on recent gains and extends ots intense march north to four-month tops near 1.3680 on Monday, a move that mirrors the generalised improvement in the risk complex on the back of persistent selling pressure hurting the Greenback.
Gold extends its impresive rally for yet another day on Monday, this time surpassing the $5,100 mark per troy ounce to hit all-time highs on the continuation of the Greenback’s retracement. The move higher in the precious metal is also uncerpinned by unabated geopolitical jitters while rising US Treasury yields seem to limit the upside somewhat.
Bitcoin, Ethereum, and Ripple prices recovered slightly at the time of writing on Monday after correcting by over 7%, 14%, and 7%, respectively. The top three cryptocurrencies are nearing key support levels, and if they hold, could consolidate or extend their recovery in the upcoming days.
Well, what a week it has been. And that is putting it mildly. Fortunately, for those of us nursing their geopolitical-induced headaches, this week offers a chance to refocus on central bank decisions, inflation figures, and corporate earnings.
Cardano (ADA) price hovers around $0.34 at the time of writing on Monday, after three consecutive weeks of correction since early January. The falling Open Interest (OI) further supports the ongoing correction signaling waning investor participation.
