technical

Bitcoin found strong support at $110K, rebounding with a bullish hammer as traders watch for a move toward $120K in its ongoing summer range.

With G10 central banks largely quiet this week, the spotlight shifts to Hungary’s MNB and South Korea’s BoK. Both are expected to keep rates unchanged, though the BoK may soon be forced to ease as trade pressures weigh on domestic growth.

The Euro (EUR) came under renewed pressure at the beginning of the week, with EUR/USD sliding toward the 1.1650 zone as the US Dollar (USD) staged a marked rebound pari passu with investors’ assessment of Friday’s dovish comments from Chief Jerome Powell at the Jackson Hole Symposium.

Spot Gold trades near its Friday peak at $3,378.91, consolidating gains yet confined to a tight intraday range at the beginning of the week. The US Dollar (USD) posted a modest intraday advance at the beginning of the day, a corrective advance that followed last week’s sell-off.

The Australian Dollar (AUD) stayed on the positive side on Monday, with AUD/USD building on Friday’s gains and reclaiming the 0.6500 hurdle and beyond in quite an auspicious start to the new trading week.

The EUR/USD pair hovers around the 1.1700 mark, easing from Friday’s peak at 1.1742, as investors finished digesting fresh expectations for a Federal Reserve (Fed) interest rate cut following Chair Jerome Powell’s statement at the Jackson Hole Symposium.