EUR/USD is trading below 1.1350, retreating from seven-week highs. Traders struggle for a clear direction as equity futures rise, yields hold steady. Omicron woes escalate and underpin the US dollar’s recovery ahead of a busy US events week.
GBP/USD bears step on the gas at the start of the week into test near to 1.35 the figure. US events, Brexit, Covid and central banks outlooks to be the driving forces this week.
USD/JPY climbs to over one-month high, around 115.35 amid stronger USD/positive risk tone.
The AUD/USD pair maintained its offered tone heading into the European session and was last seen trading just a few pips above the daily low, around mid – 0.7200s.
The NZD/USD pair trimmed a part of its intraday gains and was last seen trading just a few pips above the daily low, around the 0.6835-40 region during the early European session.
The USD/CAD pair maintained its bid tone through the early part of the European session and was last seen trading just a few pips below the daily high, around the 1.2670-75 region.
USD/CHF rebounds from a two-month low to defend the 0.9100 threshold, around 0.9130 during Monday’s Asian session. In doing so, the Swiss currency (CHF) pair rises for the first time in the last six days to offer a positive start to 2022.
WTI price regains poise after the profit-taking slide on Friday. Tightening supplies from Libya offers the much-needed impetus to oil bulls.
Gold price has started out the first trading day of 2022 on the wrong footing, as investors take profits off the table ahead of a busy week, full of top-tier US economic events. The US ISM PMIs, the FOMC minutes and NFP are likely to cheer the Fed hawks.
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