Fundamental

The Pound Sterling (GBP) changed course against the US Dollar (USD), with GBP/USD giving up nearly 200 pips in a dramatic correction.

After losing more than 8% to end the previous week, Gold (XAU/USD) remained under heavy selling pressure on Monday and dropped toward $4,400. Although XAU/USD staged a decisive rebound afterward, it failed to stabilize above $5,000.

The Japanese Yen (JPY) trades in an environment where the country’s politics has once again become a direct driver of the currency.

Despite short-term exhaustion, USD/JPY remains in a strong uptrend, with interest rate differentials favoring buyers on pullbacks toward key support zones.

The USD/CHF pair remains stuck below 0.78 as traders await potential Swiss National Bank action, with markets eyeing a breakout or deeper pullback soon.

The S&P 500 fell to test key support at 6800 on Thursday, with traders eyeing a potential bounce as earnings season continues to influence sentiment.