technical

US dollar rose against the Mexican peso on Friday, as we continue to see a lot of interest rate moves driving things forward.

EUR/USD struggles to gain traction and trades near 1.1500 in the European morning on Monday after posting small losses in the previous week. The pair’s near-term technical outlook suggests that the bearish bias remains intact.

It is clear that central banks will need to respond to the current spike in energy prices. How they respond will be decisive in determining whether the global economy enters a recession or avoids one.

The EUR/USD pair ends the week around 1.1530, barely below its opening but off the peak at 1.1640. Widespread optimism on Monday was diluted as days went by, and financial markets moved once again on war-related headlines.

Gold is back in the red early Monday, looking to test the $4,400 level after failing to resist above the $4,500 mark yet again.

The US Dollar (USD) has regained its shine this week, allowing the favourable macro picture to remain unchanged.