Page 66 - Urrencies News Today

Asia market update: Asian markets down in quiet start to week - HK & CN continue fall; US lawmakers urge more action against CN chips; Boeing and suppliers look ahead to Monday post-Alaskan Air door blow-out.

EUR/USD managed to erase its daily losses after dipping below 1.0900 on Friday but closed the first week of 2024 in negative territory.

Here is what you need to know on Monday, January 8: Investors seem to have adopted a cautious stance to start the new week.

- No change to macro narrative over the weekend, following the beat in US nonfarm payrolls on Fri.

The Euro (EUR) advances against the US Dollar (USD) in early trading on Monday as the Greenback (USD) weakens, with no fundamental reason, except for traders increasing the odds for the first rate cut of the Federal Reserve by its March meeting.

The US Dollar (USD) is currently trading at the 102.15 area, seeing losses due to bulls struggling to sustain the momentum gained last week.

The Mexican Peso (MXN) post decent daily gains of 0.31% against the US Dollar (USD) following last week’s US employment report and a light economic docket in Mexico.

In Monday's session, the GBP/JPY softened modestly to 183.75.

The AUD/USD turned flat during the mid-North American session on Monday after hitting a daily low of 0.6677, but an improvement in traders' appetite weakened the Greenback (USD).

The GBP/USD is bounding higher in a risk-on market session to kick off the new week as broad-market risk appetite steps up in the US market session, pushing the US Dollar (USD) down and giving the rest of the major currencies some breathing room.