USD/CAD drops to its lowest level since February and is pressured by a combination of factors. Bullish Oil prices underpin the Loonie and exert pressure amid a modest intraday USD pullback. Bets for more rate hikes by the Fed, looming recession risk could limit losses for the greenback. Traders now look forward to the US ISM Manufacturing PMI for some short-term opportunities. (FXStreet)

The index trims earlier gains north of the 103.00 level. US yields regain some upside traction after Friday’s drop. US ISM Manufacturing, final PMI next of note in the docket. The greenback, in terms of the USD Index (DXY), extends the optimism seen last Friday and briefly surpasses the 103.00 barrier on Monday. (FXStreet)

EUR/USD debilitates below the 1.0800 support on Monday. The greenback remains firm and climbs to multi-day highs. Final Manufacturing PMIs, ISM Manufacturing PMI next of note. The single currency starts the new trading week on the defensive and drags EUR/USD back below the 1.0800 mark, or 5-day lows. (FXStreet)

USD/JPY renews intraday high near the highest levels in two weeks. Yields grind higher as OPEC+ renew inflation woes; US Dollar cheers pre-NFP rebound. Japan’s Tankan Large Manufacturing Index eased in Q1, Jibun Bank Manufacturing PMI improved in March. US PMIs, ADP data can entertain traders ahead of Friday’s jobs report. (FXStreet)

GBP/USD has faced barricades near 1.2300 after an attempt of recovery. S&P500 futures are holding onto losses generated in the Asian session, portraying a cautious market mood. The USD Index has refreshed its weekly high above 103.00 as higher US inflation expectations were prompted by upbeat oil prices. (FXStreet)

AUD/USD has built an intermediate cushion near 0.6660, further downside looks likely. Federal Reserve is expected to remain hawkish as higher oil prices have propelled US inflation expectations. Reserve Bank of Australia is expected to hike rates further to 3.80% as inflation is extremely skewed from desired levels. AUD/USD has delivered a breakdown of the Head and Shoulder chart pattern whose neckline was placed from 0.6660. (FXStreet)

USD/MXN remains pressured near three-week low, stays within fortnight-old bullish chart pattern. Oversold RSI, mildly upbeat MACD signals suggest that Mexican Peso pair bears are running out of steam. Multi-month low marked in March puts a floor under the USD/MXN prices. (FXStreet)

NZD/USD attracts aggressive sellers on Monday amid broad-based USD strength. A sharp rise in Oil prices lifts bets for more Fed rate hikes and boosts the buck. The market focus now shifts to this week’s US macro data and the RBNZ meeting. (FXStreet)

USD/IDR rebounds from the lowest levels since early February, snaps five-day downtrend. Indonesia Inflation eases in March to 4.97% YoY versus 5.17% expected, 5.47% prior. US Dollar cheers risk-off mood as the NFP week begins. Receding hawkish Fed bets prod pair buyers; focus on US PMIs, jobs report. (FXStreet)

WTI crude oil retreats from nine-week high as energy markets stabilize after week-start jump. OPEC+ shocks Oil traders with a surprise output, US National Security Council criticizes the move. Downbeat Fed bets, mixed US data also challenge Oil price to pare the biggest daily gains in a year. US PMIs, jobs report will be crucial for clear directions. (FXStreet)

Prices of natural gas charted a decent bounce on Friday against the backdrop of increasing open interest and volume. That said, the commodity could extend the recovery in the very near term, while a firm support still emerges just below the $2.00 mark per MMBtu (February 22). (FXStreet)

Gold price picks up bids to consolidate recent losses near the lowest levels in one week. Markets dwindle amid downbeat Fed bets, inflation woes emanating from OPEC+ and mixed US data. US PMIs for March, ADP Employment Change can offer intermediate directions to Gold price ahead of Friday’s key jobs report. (FXStreet)

Silver comes under heavy selling pressure on Monday, though lacks follow-through. The technical setup still supports prospects for the emergence of some dip-buying. A convincing break below the $23.00 mark is needed to negate the positive outlook. (FXStreet)

Source: FXStreet, DailyFX

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