EUR/USD is trading under pressure below 1.1900 amid US dollar rebound. A softer risk tone, Powell’s upbeat comments extend support to the greenback. ECB Panetta's remarks kept the euro bulls on the defensive and capped gains.
GBP/USD pair is extending losses toward 1.3650, as the US dollar recovers ground across the board amid risk-aversion. Worries about the AstraZeneca covid vaccine and unrest in Northern Ireland further weigh on the spot.
A modest pickup in the USD demand prompted some selling around gold on Monday. The precious metal failed to capitalize on Friday's bounce from the $1,730 support zone. A softer tone around the equity markets/US bond yields might help limit the downside.
Dogecoin breached an ascending triangle pattern on April 11, triggering a bull run. DOGE spiked nearly 17% in a single candle on the 12-hour chart hitting $0.080. Now, a retracement to the immediate support level at $0.071 seems likely before it starts to climb again.
Equity markets continue to set new records as the Nasdaq plays catch up. Fundamentals are backing bulls as Fed doves dampen inflation concerns. Earnings week ahead will likely add more fuel to the fire.