FX Strategists at UOB Group believe EUR/USD could be headed towards the 1.1500 area in the near term.
Cable is expected to keep navigating within the 1.3460-1.3680 range for the time being, noted FX Strategists at UOB Group.
Extra gains are seen in USD/JPY above the 111.95 levels in the next weeks, suggested FX Strategists at UOB Group.
The upside bias in AUD/USD keeps gathering traction and is expected to meet the next hurdle at the 0.7350 level in the next weeks, noted FX Strategists at UOB Group.
New Zealand Prime Minister Jacinda Ardern said in a statement on Monday, the country’s largest city of Auckland will remain under level 3 lockdown.
Ardern said that the Lockdown restrictions will be reviewed again in a week.
This comes after New Zealand reported a total of 35 new cases, down from 60 on Sunday, taking the total cases in the current outbreak to 1,622.
NZD/USD has stalled its advance just shy of the 0.6950 mark, as the US dollar regains footing across the board. The spot is down 0.12% on the day, currently trading at 0.6928.
USD/CAD extends Friday’s losses to renew multi-day low near 1.2450, down 0.10% intraday ahead of Monday’s European session.
In doing so, the Loonie pair tracks multi-month high of WTI crude oil prices, Canada’s main export, while also watching comparatively better employment data from Ottawa than Washington.
The USD/CHF pair edges higher on Monday in the initial Asian session. The pair fell from the high above 0.9300 on Friday following the disappointing NFP data. At the time of writing, USD/CHF is trading at 0.9275 up 0.05% for the day.
CME Group’s flash data for crude oil futures markets saw traders scaling back their open interest positions by nearly 13K contracts, reversing four consecutive daily builds at the end of last week. Volume, instead, went up for the second session in a row, now by almost 460K contracts.
According to preliminary readings from CME Group for gold futures markets, open interest rose by just 720 contracts on Friday, partially reversing the previous daily drop. In the same line, volume went up by around 97.5K contracts.