EUR/USD regains the smile and advances to 1.0450.

EUR/USD reclaims ground lost around 1.0450.US markets are closed due to Independence Day on Monday.

The single currency starts the week on a positive note and pushes EUR/USD back to the 1.0450 region on the back of renewed dollar weakness.

EUR/USD looks to risk trends for direction

EUR/USD manages to regain some ground lost following Friday’s strong pullback and extend the rebound north of the 1.0400 hurdle on Monday.

The uptick in the pair comes amidst the inactivity in the US markets and against the backdrop of reduced trade conditions and scarce volatility.

What to look for around EUR

EUR/USD remains under pressure and still unable to gather serious upside traction, another proof that sellers remain well in control of the sentiment surrounding the European currency for the time being.

Indeed, the pair is still far away from exiting the woods and it is expected to remain at the mercy of dollar dynamics, geopolitical concerns, fragmentation worries and the Fed-ECB divergence.

Among positives for the euro can be found, however, in higher German yields, persistent elevated inflation in the euro area and a decent pace of the economic recovery in the region. Collaborating with this view also appears the generalized hawkish chatter around ECB’s rate-setters.

Key events in the euro area this week:EUR/USD consolidates below 1.0450 after weak EU data

EUR/USD keeps its range below 1.0450 after softer Eurozone PPI and Sentix data. The US dollar struggles to find its feet amid a better risk tone and light trading conditions. Recession fears and Fed-ECB policy contrast continue to remain in play. 

EUR/USD News 

GBP/USD defends bids above 1.2100 amid fresh UK political jitters

GBP/USD is defending minor bids above 1.2100, as investors weigh another attempt to oust UK PM Johnson amid looming Brexit woes. The US dollar eases in a mildly positive risk environment. Thinner liquidity conditions will prevail amid the US holiday. 

GBP/USD News 

Gold eyes $1,798 and $1,794 as next downside targets

Gold Price returns to the red zone despite weaker US Treasury yields. Markets remain cautious ahead of the Fed Minutes and an impending death cross. XAUUSD could resume sell-off below $1,800 amid light trading conditions.

Gold News 

Cryptos at risk following KuCoin insolvency rumors

Bitcoin price has been ranging since June 18, but rumors of insolvency have been spreading on multiple popular platforms in the industry. KuCoin is at the center of bankruptcy rumors. 

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