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Hey All,
Traders now look forward to the US ISM non-manufacturing PMI, due for release later during the early NA session, for some short-term trading opportunities.
Post NFP US Dollar rebound lacked any strong follow-through traction and did little to assist the pair to build on last week's strong gains, marking its first weekly advance in the previous four.
Adding to this, the ongoing selloff across global equity markets was seen benefiting the Japanese Yen's safe-haven appeal.
Further downside, however, remained limited amid expectations for a pickup in the US inflation this year.
In the meantime, broader market risk sentiment and the USD price dynamics would continue to act as key determinants of the pair's movement on the first day of a new trading week.
Cheers !!
Traders now look forward to the US ISM non-manufacturing PMI, due for release later during the early NA session, for some short-term trading opportunities.
Post NFP US Dollar rebound lacked any strong follow-through traction and did little to assist the pair to build on last week's strong gains, marking its first weekly advance in the previous four.
Adding to this, the ongoing selloff across global equity markets was seen benefiting the Japanese Yen's safe-haven appeal.
Further downside, however, remained limited amid expectations for a pickup in the US inflation this year.
In the meantime, broader market risk sentiment and the USD price dynamics would continue to act as key determinants of the pair's movement on the first day of a new trading week.
Cheers !!
