EUR/ZAR Exchange rate

EUR/USD remains under pressure below 1.1100 amid the broad US dollar rebound. US President Trump's decision to extend lockdown to tackle the coronavirus outbreak intensified risks of a deeper economic slowdown and underpinned the haven demand for the greenback. 

GBP/USD is off the lows but the upside attempts remain capped by 1.2400 amid a broadly stronger US dollar. The dire warnings on the UK’s economic growth amid expectations of a longer lockdown weigh on the spot. 

The XRP/USD pair is best positioned to escape the bearish trap that has gripped the market in recent weeks. Ether needs to do better than BTC, as it has happened over the weekend. Market sentiment is at a negative extreme, an invitation to a short-term upward shift.

Gold extended its sideways consolidative price action and remained confined in a four-day-old trading range through the early European session on Monday. A goodish pickup in the USD demand seemed to be a key factor capping gains.

The barrel of West Texas Intermediate (WTI) posted losses for the sixth straight time last meek and is now looking to close the month of March more than 50% lower.