Forex News

EUR/USD is on the defensive below 1.0850 in the European session on Monday. A broad-based US Dollar rebound acts as a headwind to the pair, as attention turns toward the US ISM PMI due later in the American morning. 

GBP/USD is under moderate selling pressure near 1.2700 in the European trading hours on Monday. A modest US Dollar uptick weighs on the pair, despite an upbeat mood. Investors await the US ISM Manufacturing PMI data for fresh guidance.

Gold (XAU/USD) slides lower to trade in the $2,320s on Monday as a positive risk-on environment inherited from the Asian session lowers safe-haven demand for the metal. 

Bitcoin price consolidates in a symmetrical triangle pattern, showing directional bias. Ripple also follows BTC’s footsteps as it continues on its 50-day consolidation streak. Ethereum price, on the other hand, shows signs of an incoming correction.

Featuring two central bank updates – the Bank of Canada and the European Central Bank – a slew of job numbers out of the US and Aussie GDP growth data, the first full week of June is poised to be eventful.