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USD
EUR/USD
The Shared currency modestly gained to $1.1724 as Germany’s Social Democrats marginally won Sunday’s national election as per the projected results, and claimed a “clear mandate” to lead a government for the first time since 2005 and to end 16 years of conservative-led under Angela Merkel.
GBP/USD
The Cable nosedived to $1.3657 on back of the rise in the UK’s virus-led death tolls and manpower shortages due to the Brexit weighed on the British pound
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USD/JPY
The Japanese yen ticked down to 110.59 versus the U.S dollar as the market eyes for the Bank of Japan Governor Haruhiko Kuroda speech later today.
AUD/USD
The Aussie dollar sidelined at $0.7282 although fears of the economic contagion from China Evergrande Group's debt situation receded slightly.
USD/CAD
The Loonie rose to 1.2630 per U.S dollar as oil cheers firmer sentiment, economic recovery hopes amid demand-supply fears.
USD/ZAR
South African rand lost ground to 14.91 against the U.S dollar on the back of a closed S.A financial markets on Friday for public holiday.
USD/MUR
The dollar-rupee unbothered at 42.85(selling) on the local market.
16:30 - USD - Core Durable Goods Orders (MoM)
19:00 - GBP - BoE Gov Bailey Speaks
The pound sterling is hovering near its one-month low around 1.3620 ahead of FOMC and BOE monetary policy meetings. The pound met with some fresh supply in the zone 1.3670-80 which could be a key resistance in the near term followed by 1.3800.
On the technical side, GBPUSD appears to be moving in a consolidation zone. As per Elliott wave principle, it appears that GBPUSD is currently riding a wave B ( triangle) of a corrective move A-B-C which could put more pressure to the downside in the near term.
A break and close of 1.3600 opens the door towards 1.3100 in the medium term. A breach of wave A of triangle (1.3980) invalidates the move and can be bullish in the medium term.
