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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.
AUD/USD fills a modest bearish gap on Monday, but remains below 0.7000 in the Asian session amid holiday-thinned liquidity. The US Dollar attempts a bounce even as US bond yields pull back from multi-year highs, limiting the pair. Moreover, diminishing odds of another RBA rate hike in November cap the Aussie.
USD/JPY extends its range-bound price action into a new week, trading above 158.00 as bulls remain on high alert amid speculation that authorities will step in to prop up the Japanese Yen. Meanwhile, softer US bond yields keep US Dollar bulls on the back foot and cap the pair's upside. However, geopolitical uncertainties could limit losses for the safe-haven buck amid thin liquidity due to a holiday in Japan and the US.
Gold is extending its recovery from a two-month low of $4,067 into a new week on Monday, trying to remain above the $4,200 level amid a pause in the US Dollar retreat from an 18-month peak.
Cardano (ADA) reclaims trading above the key support zone on Monday after a 2.85% correction last week. Improving derivatives positioning and constructive technical outlook support a recovery for ADA. Derivatives data shows an improving sentiment among Cardano traders. CoinGlass’ long-to-short ratio for ADA reads 1.01 on Monday, flipping into green territory.
The Indian Rupee (INR) opens significantly higher against the US Dollar (USD) on Monday. The USD/INR pair falls 1% to near 95.80 as Reserve Bank of India’s (RBI) fresh measures to curb US Dollar demand has brought relief for the Indian currency.
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