The US Dollar closed on a weaker footing following Fridays below consensus non-farm payroll data from the USA. All told, major currencies have been trading in relatively tight ranges of late, as the Dollar has since pegged back some of those losses seen from last week’s N.Y. close. Despite this, longer term Dollar weakness persists as investors are likely to focus on any further signs of data related inflation over the next weeks or months.
GBP Sterling’s modest gains against the Euro and USD have eased somewhat. There are now stronger signs that the ending of lockdown initially planned for 21st June may now be extended due to the Indian Covid strain. The Halifax House Price Index will be released at 8.30 this morning.
EUR Euro key support level of $1.2100 held against the US Dollar following Friday’s weaker non-farm payroll data, holding above 1.2150 during the Asia trading session. However, April German factory orders just released showed a decline of -0.2% month on month (expected +0.5%).