AUD/USD is under pressure, heading towards 0.7100 amid broad US dollar strength. Risk sentiment sours on US stimulus woes and virus contagion, lifting the safe-haven dollar. Focus remains on US stimulus news, coronavirus stats.
USD/JPY's recovery from Wednesday's 0.85% decline is picking up pace in Asia, as the US dollar gains its feet amid risk-aversion. The reports that the BOJ will likely cut its growth and price forecasts for the current fiscal year at this week's monetary policy meeting weigh on the yen.
Gold faced selling pressure on Monday as coronavirus concerns weighed over the risk sentiment and strengthened the haven demand for the US dollar. The dollar index jumped 0.11% to 92.87, as the futures tied to the S&P 500 fell by over 0.30%.
WTI hits three-week low, extending the previous week's 3% decline. The daily chart indicators scope for further losses. The daily chart relative strength index now shows an ascending triangle breakdown, a bearish pattern.