The AUD/USD pair lacks any firm intraday direction on the first day of a new week and seesaws between tepid gains/minor losses through the first half of the European session.
The EUR/GBP pair drops slightly to 0.8550 in the European session on Monday as investors remain uncertain when the European Central Bank (ECB) and the Bank of England (BoE) will begin cutting interest rates.
USD/JPY extends its gains for the second successive session, trading higher around 150.30 during the European session on Monday.
EUR/CHF is just below 0.9600 after the release of Swiss inflation data.
The Pound Sterling (GBP) clings to gains, trading around 1.2670 on Monday’s European session as investors price in that the Bank of England (BoE) won’t lower interest rates anytime soon.
Economists at Danske Bank expect the EUR/USD pair to move downward throughout the rest of the year.
USD/MXN extends its losses for the third successive session on Monday, edging lower to near 17.00 during the early European session.
The EUR/JPY cross holds above the 163.00 mark during the early European session on Monday.
Here is what you need to know on Monday, March 4: Major currency pairs fluctuate near the previous week's closing levels early Monday as investors gear up for key macroeconomic events and data releases.
The USD/CHF pair struggles to gain ground near 0.8830 after retreating from nearly the 0.8900 mark during the early European trading hours on Monday.
NZD/USD retraces recent gains, lowering down to near 0.6100 during the Asian session on Monday.
The EUR/USD pair trades in positive territory below the mid-1.0800s during the early European session on Monday.
USD/CAD retraces recent losses, reaching higher to near 1.3560 during the Asian session on Monday.
The GBP/USD pair builds on Friday's goodish rebound from the 1.2600 round figure, or a one-and-half-week trough and gains some positive traction for the second successive day on Monday.
Indian Rupee (INR) trades on a flat note on Monday. The upside of INR is bolstered by data showing India’s GDP growth in the October-December quarter considerably above forecasts.
The Japanese Yen (JPY) kicks off the new week on a softer note and remains depressed below the 150.00 psychological mark against its American counterpart during the Asian session.
The Australian Dollar (AUD) trims its intraday gains and moves in the negative direction on Monday, influenced by a stable US Dollar amid improved US Treasury yields.
On Monday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.1020 as compared to the Friday's fix of 7.1059 and 7.1906 Reuters estimates.
The EUR/USD pair kicks off the new week on a positive note during the early Asian trading hours on Monday.
The AUD/USD pair trades on a weaker note below the mid-0.6500s during the early Asian session on Monday.
The USD/JPY stages a recovery after diving to a two-week low of 149.21, climbing above the 150.00 figure on Friday amidst dovish comments by the Bank of Japan (BoJ) Governor Kazuo Ueda during the Asian session.
EUR/USD caught a bounce from 1.0800 after markets pivoted into a risk-on stance following Friday’s US ISM Manufacturing Purchasing Managers Index (PMI) declined, flubbing forecasts and stepping deeper into contraction territory.
The Greenback ended the week on a slight bearish note, as investors continued to price in a potential interest rate cut by the Fed in June, while unexpected weakness in key fundamentals also put the currency under pressure, allowing instead some breathing room in the risk-associated universe.
Mexican Peso begins Friday’s session with solid gains against the US Dollar after economic data from the United States (US) was mixed.
GBP/USD caught an intraday bump on Friday after a surprise miss in the US ISM Manufacturing Purchasing Managers Index (PMI) sparked renewed risk appetite on the back of fresh hopes for easing inflation to kick off a round of rate cuts from the Federal Reserve (Fed).
USD/CAD fumbled the 1.3600 handle on Friday after a worse-than-expected US ISM Manufacturing Purchasing Managers Index (PMI) for February unexpectedly declined.
Expectations on the March 6 UK Budget may slowly start to feed into the Pound Sterling (GBP) price action.