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EUR/USD clings to small daily gains slightly below 1.1200 on Monday. ECB President Lagarde told the European Parliament that their confidence on inflation returning to target has strengthened after the latest developments. Markets await Fed Chairman Powell's speech.
GBP/USD fluctuates at around 1.3400 ahead of Powell
GBP/USD trades in a narrow channel at around 1.3400 in the second half of the day on Monday. The US Dollar benefits from the cautious market mood and holds its ground as investors' focus shifts to Fed Chairman Powell's speech.
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Gold extends its downward correction to start the week and trades deep in negative territory near $2,630. Profit-taking ahead of the long Chinese holiday and the cautious market mood seems to be weighing on XAU/USD as markets await Fed Chairman Powell's speech.
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RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
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