There is room for the USD rebound to extend further. Therefore, economists at MUFG Bank expect the EUR/USD pair to challenge the 200-Day Moving Average (DMA) at around 1.0330.Improving cyclical outlook better priced into EUR
“There is room for the reversal lower to extend further in the near-term.”“We are expecting the EUR/USD pair to fall back towards support from the 200-DMA that comes in at around 1.0330.”
“The price action highlights that the Eurozone rate market and EUR have already moved along way at the start of this year to better reflect the improving cyclical outlook.”
EUR/USD rises to test 1.0700 as risk appetite recovers
EUR/USD is attempting a recovery to test 1.0700 in the early European morning. The pair is looking to reclaim the 1.0700 level as the risk aversion theme has lost its traction, limiting the renewed upside in the US Dollar. Thin trading to continue amid a US holiday.
EUR/USD News
GBP/USD recovers to near 1.2050 amid risk reset
GBP/USD is trading around the 1.2050 region, recovering ground amid a risk recovery in early Europe. The divergent BoE-Fed policy outlook and looming geopolitical risks could act as a headwind to the pair. Meanwhile, the US Dollar resumes the downside amid light trading.
GBP/USD News
Gold recovers further from YTD low, upside potential seems limited
Gold price is trading around a flatline at the start of the week on Monday, consolidating Friday’s sharp rebound from seven-week lows of $1,819. Markets remain cautious amid the renewed geopolitical risks while awaiting the Minutes of the US Fed February meeting due later this week.
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