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EUR/USD continues to hover around parity. Economists at the National Bank of Canada believe the pair could remain in this situation for some time.

ECB appears committed to contain inflation with higher interest rates.“The euro continues to hover around parity with the USD and could remain in this situation for some time. The common currency area is likely headed for negative growth as its economic situation deteriorates.”“The European Central Bank appears committed to contain inflation with higher interest rates, a development that could help stabilize EUR/USD.”

“We see EUR/USD trading sideways in the coming months before moving higher on the back of trade-weighted USD weakness.”

 EUR/USD rallies hard to 1.0200 as US dollar correction gathers steam

EUR/USD is rallying hard to test the 1.0200 level, underpinned by the hawkish ECB expectations and the extended US dollar correction. The market mood has turned upbeat, exerting additional downside pressure on the dollar. 

EUR/USD News 

GBP/USD extends gains to test 1.1700 despite disappointing UK data

GBP/USD is trading close to 1.1700, extending gains even as the downbeat UK GDP and industrial data failed to impress. The pair finds demand amid a positive shift in risk sentiment that accentuates the broad US dollar correction.  

GBP/USD News 

Gold rebounds firmly towards $1,730 as US dollar wilts

Gold price is staging a solid comeback, eyeing the $1,730 strong resistance, as bulls fight back control at the start of the week. The latest leg lower in the US dollar amid a firmer open on the European market is aiding the renewed upside in the bright metal.