Fundamental

The 1.16 level continues to see a bit of a ceiling being formed in the pair, as we are seeing the dollar strengthen overall.

EUR/USD struggles to hold its ground after opening with a bearish gap and trades in the red below 1.1550 on Monday. The risk-averse market atmosphere helps the US Dollar (USD) gather strength and makes it difficult for the pair to stage a rebound.

Gold is down roughly 3% in Monday’s Asian trades, extending the previous week’s more than 10% loss as multiple support levels crumble.  

The EUR/USD pair bounced back in the last few days, settling for the week around 1.1530. The Iran war and central banks’ monetary policy announcements took centre stage, yet none was enough to impress speculative interest.

The Pound Sterling (GBP) staged a late rebound from near three-month lows against the US Dollar (USD), testing the critical 1.3440 supply zone.

Gold (XAU/USD) extended its slide into a third consecutive week and lost more than 6%, its worst weekly performance since March 2020, as major central banks adopted a hawkish tone because of the upside risks to inflation posed by rising energy prices.