EUR/USD has shown a perpendicular recovery to near 1.0784 as investors have underpinned the risk appetite theme. US headline CPI is seen softening due to lower oil prices while core inflation is expected to remain persistent. EUR/USD had strongly rebounded after sensing buying interest near the 61.8% Fibonacci retracement at 1.0738. (FXStreet)

USD/CAD turns lower for the fifth straight day and is pressured by renewed USD selling. Bearish Crude Oil prices could undermine the Loonie and help limit losses for the major. Traders also seem reluctant ahead of the US CPI on Tuesday and the FOMC on Wednesday. (FXStreet)

The index appears somewhat offered around 103.40. Cautiousness is expected to increase ahead of CPI, Fed. The Monthly Budget Statement will be the sole release on Monday. The greenback, when measured by the USD Index (DXY), starts the week slightly on the defensive and around the 103.40 region. (FXStreet)

USD/CHF is facing fragile barricades around 0.9040 amid a marginal correction in the USD Index. Market mood is cheerful on hopes that the Fed would skip hiking interest rates on Wednesday. SNB Jordan believes that the central bank should not wait for increasing inflation but should act now by raising interest rates. (FXStreet)

GBP/JPY sticks to mild gains at the highest levels since January 2016. Mixed concerns about the UK’s growth fail to tease sellers as BoJ officials keep defending easy money policy. Bond markets portray heavy selling pressure ahead of the key central bank decision. Downbeat Japan PPI adds strength to bullish bias ahead of UK employment data, BoJ monetary policy meeting. (FXStreet)

EUR/JPY is oscillating in a narrow range below 150.00 as ECB/ BoJ policy has come under the spotlight. ECB Lagarde would raise rates to 4% despite galloping signs of a recession in the Eurozone. The BoJ might let the monetary policy (FXStreet)

USD/JPY is consolidating above 139.00 as Fed/BoJ policy comes into the picture. Market sentiment is quite positive as the odds of a neutral policy stance by the Fed are extremely solid. The interest rate policy by the BoJ is expected to remain unaltered as more monetary stimulus is required to keep inflation steadily above 2%. (FXStreet)

GBP/USD is looking to come out of the woods for a break towards 1.2600 amid a mild correction in the USD Index. Overall market sentiment is quite positive as a pause in the policy-tightening spell by Fed is easing fears of a US recession. The speech from BoE Bailey is likely to provide cues about the likely monetary policy action. (FXStreet)

AUD/USD gains positive traction for the third straight day and climbs to a fresh one-month high. The RBA’s hawkish outlook and a positive risk tone push spot prices beyond the 100-day SMA. The Fed rate hike uncertainty and economic woes might cap any meaningful upside for the pair. Traders might also prefer to wait ahead of the US CPI on Tuesday and the FOMC on Wednesday. (FXStreet)

NZD/USD holds steady above 0.6100, though a modest USD strength caps any further gains. An intraday uptick in the US bond yields lends support to the buck and acts as a headwind. Traders also seem reluctant ahead of the US CPI on Tuesday and the FOMC on Wednesday. (FXStreet)

USD/MXN fades bounce off the lowest level since May 2016. Fortnight-old support line, oversold RSI (14) line challenge Mexican Peso buyers. 50-SMA restricts short-term USD/MXN upside ahead of the key 200-SMA hurdle. Multiple support lines, year 2016 bottom stand tall to challenge pair sellers. (FXStreet)

USD/TRY refreshes all-time high amid two-day winning streak, grinds near the top of late. US Dollar pares recent losses as traders reassess Fed bets ahead of US inflation. Cautious mood, pre-event positioning also favor greenback buyers amid sluggish start to the key week. Preparations for more rate hikes from newly appointed CBRT Governor, geopolitical tension in Turkiye also justify Turkish lira’s latest fall. (FXStreet)

Prices of WTI dropped for the second consecutive session on Friday. The downtick came amidst shrinking open interest and volume and removes strength for a sustained decline for the time being. In the meantime, the next support of note is expected around the late May low near the $67.00 mark per barrel. (FXStreet)

Friday’s pullback in prices of natural gas came on the back of declining open interest and volume, allowing for some bounce in the short-term horizon. On this, the immediate up-barrier is seen at the $2.40 region per MMBtu, where the 100-day SMA and the monthly high converge. (FXStreet)

Gold price reverses a modest intraday dip, though the upside remains capped. The US Dollar struggles to preserve its gains and lends support to the XAU/USD. Traders keenly await the US CPI report and key central bank event risks this week. (FXStreet)

Silver price has sensed barricades around $24.20 as the focus shifts to the US Inflation. Catalysts that are supporting more rate hikes by the Fed are persistence in core CPI and a recovery in US lending activities. Silver price showed a vertical sell-off after the formation of the Double Top pattern. (FXStreet)

Source: FXStreet

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