EUR/HKD Exchange rate

EUR/USD is trading under pressure below 1.1900, as the US dollar rebounds in tandem with the Treasury yields amid rising inflation expectations. Europe's covid concerns continue to undermine the euro. German ZEW and US CPI awaited. 

GBP/USD is trading below 1.3750 after UK GDP figures for February missed with 0.4% and despite Britain's successful vaccination campaign. The currency pair has been under pressure as the dollar strengthens across the board alongside yields. US inflation is eyed.

Gold sees some signs of life amid weaker Treasury yields. The yellow metal fell nearly $11 on Monday, extending its two days of declines, as the Treasury yields reversed course and edged slightly higher following a good three-year note auction.

Bitcoin price continues to struggle to reach a record high above $60,000. However, BTC demand and on-chain data suggest a bullish outlook for the pioneer cryptocurrency. Bloomberg analyst Mike McGlone indicates Bitcoin is in price discovery, far from reaching the cycle top.

Inflation and inflation expectations are likely to be in the spotlight in the coming week. We saw a decline in US inflation expectations this week and with that, a decline in bond yields that pressured the dollar.