Forex News

EUR/USD extends its daily uptrend and trades in positive territory above 1.0800 in the early American session on Monday. The modest improvement seen in risk mood makes it difficult for the US Dollar to find demand and helps the pair stretch higher.

GBP/USD clings to modest gains above 1.2550 in the second half of the day on Monday. Ahead of Tuesday's labor market data from the UK and April inflation report from the US on Wednesday, the modest US Dollar (USD) weakness helps the pair hold its ground.

Following the upsurge seen in the second half of the previous week, Gold stages a downward correction and trades in the red below $2,350 on Monday. Nevertheless, the benchmark 10-year US Treasury bond yield edges lower below 4.5% and allows XAU/USD to limit its losses.

Crypto market cap on Monday stands at $2.2 trillion, down 5.2% over seven days, although it showed some growth over the weekend. Local market capitalisation peaked on March 14th, but the active decline began about a month ago.

Will inflation finally fall? That is the question for markets, battered by four consecutive worrying releases of the all-important CPI. A warm-up with PPI, speeches by key Fed officials, and also a look at the central bank's second mandate.