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Editors’ Picks
EUR/USD appears offered around 1.1550
After failing to break above the 1.1600 barrier, EUR/USD is currently under renewed selling pressure and is testing the mid-1.1500s again on Monday. The US Dollar, on the other hand, rises slightly across the board as investors absorb Friday’s big drop after the US employment data and turn their focus to trade.
GBP/USD trims gains, back below 1.3300
The British Pound is losing some of its upward momentum, which is causing GBP/USD to drop back below 1.3300, where it is up little for the day, all amid the resurgence of the buying interest around the Greenback. Soon, however, caution is anticipated to set in ahead of the BoE event later this week.
Gold remains range bound below $3,400
On Monday, Gold prices climbs for the third day in a row, refocusing on the important $3,400 barrier per troy ounce. This comes on the back of fresh demand for the US Dollar, while the mixed bias in US yields across various time frames appears to be keeping the precious metal strong for now.
Euro area – New ECB call: No further cuts in scope
The euro area economy has shown surprising resilience over the summer, with the outlook bolstered by the EU-US deal and accelerated German spending plans. Risks are still tilted towards a final cut later this year or in early 2026. Further softening of wage indicators could open the door for a final ‘insurance cut’.
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