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USD Higher at Start of the Week
The US dollar has had a firmer start to the week with USD index trading in the green over the European morning so far on Monday. Following initial weakness last week, USD stalled out and the index stagnated around the 97.11 level. This is still underpinning the market as support today. Looking ahead this week we have US CPI, retail sales and U. of Michigan confidence survey. These will all be watched closely now as the market looks to gauge the likelihood of further easing from the Fed.
Euro Heads Lower from Resistance
EURUSD has come under pressure over early trading on Monday with price backing further away from the 1.1217 level. This level capped price on several attempts last week and has now seen price trading back down to 1.1186 last. Recent data weakness in the eurozone is keeping expectations of ECB easing elevated.
GBP Sees Mild Bounce
GBPUSD has seen a mild recovery so far this morning tho...
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