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Euro (EUR) is expected to trade in a 1.0450/1.0505 range vs the US Dollar (USD). In the longer run, rejuvenated upward momentum suggests EUR could continue to advance; the levels to monitor are 1.0530 and 1.0560, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
Gold got stuck in a tight consolidation around the all-time highs as the market might be waiting for new catalysts for the next direction. What’s next?
Here is what you need to know on Monday, February 24: The Euro (EUR) gathers strength against its rivals to begin the week as investors assess the results of the German election.
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, kicks off the new week on a downbeat note and drops to its lowest level since December 10 during the Asian session.
Bybit, the cryptocurrency exchange hacked last Friday, withstood an outflow of over $6.1 billion over the weekend. However, the exchange’s CEO announced that the platform replaced the $1.
The EUR/USD pair regains positive traction at the start of a new week and hits a near one-month top, around the 1.0525-1.0530 area during the Asian session amid renewed US Dollar (USD) selling bias.
Gold price (XAU/USD) attracts some dip-buying during the Asian session on Monday, though it remains confined in a familiar range near the all-time peak touched last week.
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