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EUR/USD clings to modest gains above 1.0750 ahead of Fedspeak
EUR/USD clings to small gains above 1.0750 on the first trading day of the week. In the absence of high-tier data releases, investors will scrutinize comments from central bank officials. Later in the week, inflation data from the US could trigger a big reaction.
GBP/USD edges higher toward 1.2550 ahead of key data releases
GBP/USD inches higher toward 1.2550 in the second half of the day on Monday. Ahead of Tuesday's labor market data from the UK and April inflation report from the US on Wednesday, the modest US Dollar (USD) weakness helps the pair hold its ground.
UPCOMING CALENDAR EVENTS
Editors’ Picks
Gold loses traction, declines toward $2,340
Following the upsurge seen in the second half of the previous week, Gold stages a downward correction and declines toward $2,340 on Monday. The benchmark 10-year US Treasury bond yield stays near 4.5% and makes it difficult for XAU/USD to extend its uptrend.
Crypto market under pressure from Bitcoin
Crypto market cap on Monday stands at $2.2 trillion, down 5.2% over seven days, although it showed some growth over the weekend. Local market capitalisation peaked on March 14th, but the active decline began about a month ago.
Five fundamentals for the week: Inflation and what the Fed says about it are in focus Premium
Will inflation finally fall? That is the question for markets, battered by four consecutive worrying releases of the all-important CPI. A warm-up with PPI, speeches by key Fed officials, and also a look at the central bank's second mandate.