Analyzes

The GBP/USD holds near 1.3500, with stronger UK CPI and fading BoE cut bets boosting bullish momentum toward 1.3600 ahead of Jackson Hole.

EUR/USD trades sideways near 1.1665 but a bullish chart pattern points to potential gains, with traders watching Jackson Hole for fresh momentum.

The Euro (EUR) lost momentum in a negative start to the week, setting aside Friday’s bullish attempt. That said, EUR/USD came under fresh downside pressure and slipped back to the vicinity of 1.1650 on Monday. Despite the knee-jerk, the pair kept navigating its upper end of the monthly range.

A firmer US Dollar (USD) puts pressure on Gold prices at the beginning of the week. The XAU/USD pair approaches $3,330 early in the American session, down from an intraday peak of $3,358.45.

The Australian Dollar (AUD) lost some of its shine in a disheartening start to the new trading week, giving back part of Friday’s rebound. In fact, AUD/USD returned to the sub-0.6500 region in response to the decent bounce in the US Dollar (USD), helped by geopolitics and higher US yields.

The EUR/USD pair trades with a softer tone on Monday, easing from an early peak of 1.1716. The US Dollar (USD) edges modestly higher against most major rivals in the mid-European session, but overall, financial markets are in wait-and-see mode after last week’s events.