FxAnalysis

EUR/USD remains under pressure, slipping back toward the lower end of its recent range and close to the key support at 1.1500 the figure in quite a slow start to the new trading week.

Gold extends its choppy performance at the beginning of the week, clocking acceptable gains and leaving behind two daily declines in a row. The precious metal, however, failed to retest or surpass the key $4,100 mark per troy ounce.

GBP/USD trades around 1.3100 on Monday, virtually unchanged for the day, as financial markets remain focused on the UK Autumn Budget, due on Wednesday, and the path ahead for monetary policy.

The Australian Dollar (AUD) trades on the back foot in a discouraging start to the new trading week, with AUD/USD challenging its critical 200-day SMA in the 0.6450-0.6460 band following Friday’s decent uptick.

EUR/USD trades around 1.1540 on Monday, up 0.20% on the day, extending Friday’s rebound from 1.1490. The move reflects a moderate recovery in risk sentiment, while the US Dollar loses momentum as easing expectations continue to build.

EUR/USD continues to struggle below 1.16 as bearish momentum builds, with traders eyeing key support at 1.1470 and awaiting economic signals from both sides of the Atlantic.