The euro is the main beneficiary, getting a slight nudge higher as well after the latest Eurozone inflation numbers. EUR/USD is now up 0.6% to 1.0535 though sellers are still keeping in near-term control as seen from the chart:
Besides that, we're also seeing GBP/USD move up by 0.4% to 1.2630 and brushing against its key hourly moving averages:
Elsewhere, other major currencies are not too much changed against the dollar. USD/JPY is down 0.1% to 150.40 while USD/CAD is down 0.2% to 1.4430 currently. On the latter, large option expiries at 1.4440 might be offering something to keep price action stickier before we get to US trading later.
Trump's plans on tariffs against Canada and Mexico will be the key risk event to watch alongside US ISM manufacturing PMI data. On the week itself, there will be no shortage of major events with China's two sessions meeting, the ECB monetary policy meeting, and US jobs report also all lined up.
This article was written by Justin Low at www.forexlive.com. Read More Details
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