EUR/USD rebound extends but gains through low 1.08s needed to extend, economists at Scotiabank report.Investors continue to scoop it up on minor corrections
EUR gains from the late May low point have extended a little more as investors continue to scoop it up on minor corrections.
Gains perhaps need to extend a bit more clearly through 1.08 to generate more momentum; 1.0810 is the 38.2% retracement of the 1.1091/1.0635 decline through May. Above here targets a return to the 1.09 zone. Support is 1.0740/50.
EUR/USD clings to modest daily gains above 1.0750
EUR/USD stays in positive territory above 1.0750 on Monday. The upbeat market mood ahead of this week’s key data releases and central bank policy meetings makes it difficult for the US Dollar to find demand, helping the pair stretch higher.
EUR/USD News
GBP/USD consolidates last week’s gains below 1.2600
GBP/USD struggles to build on last week’s gains and trades in a relatively tight range below 1.2600 on Monday. Ahead of UK jobs report and US inflation data on Tuesday, investors refrain from taking large positions, limiting the pair’s action.
GBP/USD News
Gold edges higher toward $1,970 as Fed week begins
Gold price edges higher and closes in on $1,970 on Monday. The benchmark 10-year US Treasury bond yield stays quiet above 3.7% and helps XAU/USD benefit from USD weakness as markets await May inflation data and the Fed’s policy announcements.
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