The dollar fell after a more mixed day on Friday, with other major currencies also pushed back by last weekend's US PCE price inflation data. The yen has fallen due to suspicions of Bank of Japan intervention, and the dollar/yen pair has fallen from $159.60 to a low of $155.05 in the past hour, with the Japanese yen being the main player at the moment.
On top of that, the dollar has generally lost momentum since last week. GBP/USD rose 0.4% to 1.2540, close to its 200-day moving average of 1.2555. And AUD/USD is up 0.7% and its 100-day moving average is up around 0.6584. These are at least $2 pairs facing some important technical levels at the beginning of the week.
On the day, EUR/USD rose 0.4% to 1.0730, while USD/CAD fell 0.2% to 1.3635.
Elsewhere in the market, stocks are holding steady as investors look to continue the recovery from last week. U.S. futures are up 0.2% for future trading.
In Europe, German and Spanish statistics will be on the agenda, with inflation statistics likely to be the focus. Having said that, the ECB's June interest rate cut has already been well communicated, so it probably won't matter that much at this point. However, be prepared for the unexpected.
0700GMT – Spain April CPI preliminary figures
0900 GMT – Eurozone April final consumer confidence index
0900 GMT – Eurozone economic, industrial and services confidence in April
1200 GMT – Germany April CPI news
That's all for the upcoming sessions. We wish you all great days ahead and good luck in your dealings. Stay safe.