Fundamental

After rising more than 0.7% in the previous week, GBP/USD struggles to gain traction on Monday and fluctuates in a tight channel at around 1.3550.

The USD/CAD pair continues with its struggle to build on the momentum beyond the 100-day Simple Moving Average (SMA) and attracts some sellers at the start of a new week. The downtick, however, lacks bearish conviction and is more likely to remain limited amid a combination of supporting factors.

EUR/USD starts the new week on the back foot and trades in negative territory below 1.1700. In the absence of high-tier macroeconomic data releases, the market mood could drive the pair’s action in the short term.

With tariff concerns still around, central banks are expected to remain cautious this week, with only the Reserve Bank of New Zealand forecast to consider further rate cuts, as opposed to Bank Indonesia, Riksbank, and the People’s Bank of China, which are anticipated to maintain their current intere

The USD/MXN pair rebounds toward 18.80 after last week’s lows, with traders watching Fed signals and tariff risks for direction in choppy trading.

The USD/ZAR trades near 17.61, with traders watching Fed policy and Jackson Hole, while 17.60 support remains key for a potential move toward 17.50.