In the view of the analysts at JP Morgan, EUR/USD is foreseen at 1.1400 by December and 1.1200 next year.
GBP/USD remains firm on the first trading day of the week in the early European session. The pair managed to gather momentum following the previous two session’s fall-off.
USD/JPY moves lower for the fourth straight day on Monday following the consistent downward pressure on the US dollar.
AUD/JPY edges higher on Monday following the previous session’s downside momentum.
NZD/USD holds in the daily support area and consolidates.
USD/CAD struggles to defend rebound from four-month low.
USD/CHF manages to start the fresh trading week on a higher note.
WTI rises to the fresh high since October 2014, sidelined of late.
The focus shifts to US GDP while XAU/USD bears and bulls fight over $1,800. Analyst Eren Sengezer expects gold to head towards $1,825 before $1,840 on a break above the aforementioned $1,800 resistance.