NZD/USD loses ground after registering modest gains in the previous session, trading around 0.5610 during the European hours on Monday. The pair depreciates as the New Zealand Dollar struggles on dovish sentiment surrounding the Reserve Bank of New Zealand (RBNZ) policy outlook.

The New Zealand Dollar is struggling to find acceptance above 0.5600 on Monday, after bouncing from multi-month lows at 0.5570. The pair maintains its broader bearish trend intact, amid hopes of further RBNZ easing later this week.

USD/CAD recovers its recent losses from the previous session, trading around 1.4100 during the early European hours on Monday. The daily chart’s technical setup reflects a persistent bullish bias, with the pair remaining within its ascending channel pattern.

Here is what you need to know on Monday, November 24:

The GBP/USD pair reverses a modest Asian session dip and climbs back above the 1.3100 mark in the last hour amid a modest US Dollar (USD) downtick on Monday.

The EUR/USD pair trades in positive territory around 1.1525 during the early European trading hours on Monday. The US Dollar (USD) edges lower against the Euro (EUR) as Federal Reserve (Fed) rate cut expectations rise.

USD/CHF continues its winning streak for seven successive sessions, trading around 0.8080 during the Asian hours on Monday.

The EUR/JPY cross gains traction near 180.40 during the Asian trading hours on Monday. The Japanese Yen (JPY) softens against the Euro (EUR) amid fiscal concerns and the Bank of Japan (BoJ) rate hike uncertainty. Nonetheless, intervention fears might cap the downside for the JPY.

USD/CAD remains subdued for the second successive session, trading around 1.4090 during the Asian hours on Monday. The pair depreciates as the US Dollar (USD) loses ground amid renewed expectations of a Fed rate cut in December.

The Japanese Yen (JPY) attracts fresh sellers at the start of a new week and erodes a part of Friday's modest recovery gains amid concerns about Japan's ailing fiscal position on the back of Prime Minister Sanae Takaichi’s pro-stimulus stance.

The Australian Dollar (AUD) edges lower against the US Dollar (USD) on Monday ahead of the looming key inflation update this week.

The NZD/USD pair loses ground to near 0.5605 during the early Asia session on Monday. The New Zealand Dollar (NZD) weakens against the US Dollar (USD) amid expectations that the Reserve Bank of New Zealand (RBNZ) will deliver a rate cut at the November meeting on Wednesday. 

On Monday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 7.0847 compared to Friday's fix of 7.0875 and 7.1162 Reuters estimate.

EUR/USD extends its losses for the second successive session, trading around 1.1510 during the Asian hours on Monday.

The GBP/USD pair struggles to capitalize on its gains registered over the past two days and kicks off the new week on a softer note amid a broadly firmer US Dollar (USD).

EUR/USD posts moderate losses during the North American session on Friday as the US Dollar (USD) holds firm after the release of mixed economic data and dovish comments by Federal Reserve (Fed) officials. The pair trades at 1.1504, down 0.20%, after hitting a two-week low of 1.1491.

The Japanese Yen (JPY) strengthens against the US Dollar (USD) on Friday, with USD/JPY snapping a four-day winning streak after fresh verbal intervention warnings from Tokyo prompted mild profit-taking.

The Euro (EUR) remains under pressure against the US Dollar (USD) on Friday, even as the Greenback trades broadly flat, with traders weighing fresh US economic data and rising bets on a potential Federal Reserve (Fed) interest rate cut in December.

The Pound Sterling turns positive in the day as traders increase their bets that the Federal Reserve could cut rates at the December meeting. The GBP/USD trades at 1.3082 up 0.08%.

USD/CHF trades around 0.8070 on Friday, up 0.10% on the day at the time of writing, as the US Dollar (USD) finds moderate support from mixed but generally resilient US data releases.

The Canadian Dollar (CAD) holds steady against the US Dollar (USD) on Friday, with USD/CAD hovering near 1.4100 as the Greenback stages a rebound after briefly losing momentum on dovish comments from New York Federal Reserve (Fed) President John Williams.

Pound Sterling (GBP) is soft, down a marginal 0.1% against the US Dollar (USD) and a mi performer among the G10 in an environment of persistent USD strength, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Euro (EUR) is soft, down a marginal 0.1% as it drifts back toward Thursday’s low just above 1.15, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Canadian Dollar (CAD) is little changed on the day, with spot holding gains towards the 1.41 area yesterday amid the US equity market sell-off, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Euro (EUR) pares back some of its early losses against the Swiss Franc (CHF) on Friday as the pair steadies following the release of preliminary Eurozone Purchasing Managers Index (PMI) data. At the time of writing, the cross is trading around 0.9290, bouncing off an intraday low of 0.9276.

USD/JPY trades around 156.70 on Friday at the time of writing, retreating as the Japanese Yen (JPY) regains strength.

The New Zealand Dollar remains pinned near seven-month lows at 0.5580 against the US Dollar, with upside attempts failing to hold above 0.5600.

AUD/USD softens slightly on Friday, trading around 0.6440 and down 0.10% at the time of writing. The decline comes despite supportive domestic data, as the pair struggles to extend Thursday’s rebound amid mixed global sentiment.

EUR/USD holds above 1.1500 as solid Eurozone business activity supports an extended ECB pause, while market pricing still factors in potential rate cuts, BBH FX analysts report.

US Dollar (USD) is expected to continue moving higher; the next level to watch is 158.00, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.