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EUR/USD stays below 1.1200 after German IFO data
EUR/USD struggles to gain traction and trades marginally lower on the day below 1.1200 in the European session, even though the IFO sentiment figures from Germany came in slightly better than expected. Investors await Durable Goods orders data from the US.
GBP/USD hovers around 1.3200 as USD finds its feet
GBP/USD is off multi-month highs to tread water near 1.3200 early Monday. The US Dollar attempts a minor recovery amid souring risk sentiment, acting as a headwind for the pair. Middle East geopolitical risks and US Durable Goods data are closely eyed.
UPCOMING CALENDAR EVENTS
Editors’ Picks
Gold extends rally as geopolitical risks boost haven demand
Gold trades up into the $2,520s on Monday, as a combination of safe-haven demand sparked by rising geopolitical tensions in the Middle East, and increased confidence US interest rates will track lower in the medium-to-long term, make the non-interest paying asset more attractive to investors.
Toncoin price crashes double-digits as Telegram CEO Pavel Durov Arrested
Toncoin (TON) plunged 14% in two days, reaching a low of $5.23 on Sunday. As of Monday, it trades at around $5.73. This bearish sentiment was initiated by the arrest of Pavel Durov, CEO of Telegram, by the Fench authorities on Saturday.
Three fundamentals for the week: Focus on the fragility of the US economy Premium
US Consumer confidence data will provide a gauge of how consumers are feeling. Jobless claims are in focus after Fed Chair Powell's dovish speech. Investors will look to the core PCE index to confirm that inflation is falling.