Since being turned down from the yearly highs near the 1.2100 level in late January, the short-term outlook for EUR/USD has been becoming worse and worse.

The Australian Dollar (AUD) stays strong amid elevated inflation at home and the Reserve Bank of Australia’s (RBA) hawkish tilt. This combination keeps the door open for AUD/USD to rise even higher, and it also helps guard against occasional drops.

Silver price edged lower at the beginning of the week, despite multiple weekend headlines hinting at panic taking over financial markets at the opening. Fears were indeed present, although to a moderated extent.

Oil is suddenly back in the spotlight, and that matters more than it might initially appear.

There is a medium-term descending price channel which continues to hold the price lower, but the price action is ascending from the low and looks likely to test pivotal resistance.

The EUR/USD pair trades with a positive tone on Monday, having trimmed most of Friday’s losses, despite Iran’s war escalating over the weekend, triggering fresh inflation-related concerns ahead of central banks’ monetary policy decisions.