“Look at market fluctuations as your friend rather than your enemy.”
USD
EUR/USD
The Shared currency renewed intra-day high at $1.1367 as European Central Bank (ECB) sources mentioned that policy markets might be edging towards a rate hike before the end of 2022 to stem more persistent than expected inflationary pressures and a stronger inflation outlook.
GBP/USD
The Cable inched higher to $1.3620 on better than expected UK retail sales data and expectations that the Bank of England will start to hike rates again. Markets await U.K. Manufacturing data later during the day.
USD/JPY
The Japanese yen firmed at 115.00 versus the greenback onU.S. holiday as investors preferred the safe-haven currency over the greenback on high market volatility fears.
AUD/USD
The Aussie dollar gained upside momentum on positive headlines that U.S. President Joe Biden and his Russian counterpart Vladimir Putin have agreed on a summit regarding the Russia-Ukraine issue.
USD/CAD
The Loonie eased to 1.2730 against the U.S. dollar as the oil market remained highly volatile to the upside, amid uncertainties about how Russia might react given the latter is the second-largest crude oil exporter.
USD/ZAR
The South African rand trod water at 15.06 as the South African Reserve Bank is expected to hike its main lending rate by another 25 basis points next month, and supported by bids from gold prices.
USD/MUR
The dollar-rupee traded flat at 43.60(selling).
13:00 - EUR - Manufacturing PMI
13:30 - GBP - Manufacturing PMI
