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.
XRP price broke out of a bull pennant on April 10, targeting $1.58 If the buying pressure persists, Ripple might surge another 16% to $1.68. The MRI shows the formation of a cycle top on the 12-hour chart, suggesting a move lower.
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.