EUR/USD remains above 1.1500 as Eurozone economic activity shows resilience and the ECB is expected to stay on hold, limiting downside against a still-restrictive Fed, BBH FX analysts report.

EUR/JPY trades around 180.70, up 0.35% on Monday at the time of writing. The cross benefits from renewed selling pressure on the Japanese Yen (JPY), weakened by persistent concerns over Japan’s fiscal trajectory and doubts over an imminent rate hike by the Bank of Japan (BoJ).

The Pound has ticked up from Friday’s lows at 204.30, but it is struggling to find significant acceptance above the 205.00 level on Monday, despite the positive risk sentiment.

The recent rise in USD/JPY is slowing with the pair falling on Friday. Intervention rhetoric is getting louder and more frequent. Pair was last seen at 156.76 levels.

The Japanese Yen (JPY) has continued to trade close to recent lows at the start of the week after USD/JPY hit a high last week of 157.89. The pair has risen by around 10 big figures since Sanae Takaichi won the LDP leadership election.

European natural gas prices have fallen below EUR 30/MWh for the first time since May, boosting Europe’s terms of trade and offering relief to its struggling manufacturing sector, ING's FX analyst Chris Turner notes.

The US Dollar is trading flat, around the 1.4100 level against the Canadian Dollar, after failing to break above 1.4130 on Friday.

Germany IFO – Expectations declined to 90.6 in November from previous 91.6

Germany IFO – Current Assessment rose from previous 85.3 to 85.6 in November

Germany IFO – Business Climate below forecasts (88.5) in November: Actual (88.1)

EUR/USD shows marginal gains at Monday's European session opening, trading at 1.1520 area at the time of writing, after bouncing from two-week lows at 1.1490 on Friday.

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).

The USD/JPY pair posts modest gains near 156.50 during the early Asian session on Monday. Less dovish Federal Reserve (Fed) expectations could provide some support to the US Dollar (USD) against the Japanese Yen (JPY).

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.