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United States Durable Goods Orders ex Transportation above expectations (0.3%) in November: Actual (0.5%)
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The Greenback’s ongoing softness has given EUR/USD another push higher, extending last week’s rally and nudging the pair to fresh yearly highs, just a few pips shy of the 1.1900 mark on Monday. Earlier in the session, Germany’s IFO Business Climate index came in unchanged at 87.6 in January, offering little in the way of surprise.
GBP/USD is building on its recent gains and pushing further higher on Monday, climbing to four-month highs near the key 1.3700 hurdle. The move reflects the broader improvement in risk appetite, with persistent selling pressure continuing to weigh on the Greenback.
Gold is extending its impressive rally for another day on Monday, breaking above the $5,100 mark per troy ounce to notch fresh record highs as the Greenback continues to retreat. Ongoing geopolitical jitters and declining US Treasury yields are also lending support to the precious metal.
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.
