EUR/USD recovers its recent losses on prevailing upward movement. Technical indicators suggest positive sentiment to revisit the psychological resistance at the 1.1000 level and the two-month high at 1.1017. The break below 1.0900 could push the pair to meet the 23.6% Fibo at 1.0884 and seven-day EMA at 1.0881. (FXStreet)

GBP/USD gains momentum around 1.2688, backed by the weaker USD and the BoE’s hawkish remarks. The pair holds above the 50- and 100-hour EMA; the RSI indicator stands in bullish territory above 50. The first upside barrier is seen at 1.2724; the initial support level is located at 1.2637. (FXStreet)

USD/CAD snaps its losing streak as the US Dollar holds its position above 102.50. BoC Governor Tiff Macklem’s hawkish comments might have supported the Canadian Dollar. Traders await Canadian Core CPI data for fresh impetus in inflation conditions. Fed members’ dovish remarks put pressure on the US Dollar. (FXStreet)

USD/CHF trades lower as the US Dollar Index moves below 102.50. Downbeat US Treasury yields contributed to the downward pressure on the Greenback. SNB Chairman Thomas Jordan’s hawkish remarks might have supported the Swiss Franc. (FXStreet)

The US Dollar Index (DXY) drifts lower to 102.45 on Monday. The dovish remarks from Federal Reserve (Fed) officials triggered a rally in US equities and weighed on the USD. Traders await the US Building Permits and Housing Starts, due on Tuesday. (FXStreet)

EUR/GBP receives upward support ahead of German economic data. The Euro faced challenges on downbeat PMI data from the Eurozone. UK PMI data indicated an uptick in growth at the end of the year. (FXStreet)

USD/MXN receives upward support as the Greenback suffers losses. The decline in US bond yields reinforces the weakening of the US Dollar. Banxico survey increased their growth forecast from 2.10% to 2.29%, with inflation to reach 4.0% in 2024. (FXStreet)

NZD/USD gains traction around 0.6224 amid the USD weakness. New Zealand’s Business NZ PSI climbed to 51.2 in November from 48.9 in the previous reading. Fed’s Goolsbee said on Sunday that it’s premature to declare victory over the inflation battle. Market players will monitor New Zealand’s Trade Balance, and US housing data, due on Tuesday. (FXStreet)

WTI attempts to recover recent losses on Russia’s deepened oil export cuts. Russian Deputy Prime Minister Alexander Novak said that Russia would deepen oil cuts in December by 50,000 bpd. The leading shipping firms to avoid the Suez Canal route as Houthi militants escalated their assaults on commercial vessels. (FXStreet)

Gold price attracts some dip-buying on Monday amid a modest US Dollar downtick. Geopolitical tensions and looming recession risks also benefit the safe-haven metal. The prevalent risk-on environment is seen acting as a headwind and capping gains. (FXStreet)

Silver regains positive traction and reverses a part of Friday’s pullback from over a one-week top. The technical setup remains tilted in favour of bulls and supports prospects for additional gains. A convincing break below a multi-month-old ascending trend-line will negate the positive outlook. (FXStreet)

Source: FXStreet, DailyFX

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