Dale J Pinkert
Independent Analyst
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Editors’ Picks
EUR/USD: The path of least resistance is to the downside near 1.0300
The EUR/USD pair weakens to near 1.0315 during the early European session on Monday. The expectation that the European Central Bank will further cut the interest rate this year undermines the Euro against the Greenback.
GBP/USD holds steady above 1.2400; upside potential seems limited amid bullish USD
The GBP/USD pair struggles to capitalize on Friday's modest recovery gains and oscillates in a range, above the 1.2400 mark at the start of a new week. Spot prices, meanwhile, remain close to the lowest level since April 2024 touched last week and seem vulnerable to prolonging over a three-month-old downtrend on the back of a bullish US Dollar.
Gold price moves away from multi-week high on hawkish Fed expectations
Gold price turned lower for the second straight day on Monday, though the downside seems limited. The Fed’s hawkish signal remains supportive of elevated US bond yields and exerts some pressure. Geopolitical risks and trade war fears might continue to offer support to the safe-haven XAU/USD.
Bitcoin, Ethereum and Ripple show signs of bullish momentum
Bitcoin’s price is approaching its key psychological level of $100,000; a firm close above would signal the continuation of the ongoing rally. Ethereum price closes above its upper consolidation level of $3,522, suggesting bullish momentum. While Ripple price trades within a symmetrical triangle on Monday.
Week ahead – US NFP to test the markets, Eurozone CPI data also in focus
King Dollar flexes its muscles ahead of Friday’s NFP. Eurozone flash CPI numbers awaited as euro bleeds. Canada’s jobs data to impact bets of a January BoC cut. Australia’s CPI and Japan’s wages also on tap.
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