All major US stock indexes closed higher on Monday as investors await a busy earning week ahead.
The Dow added 100 points, the Nasdaq Composite climbed 0.28% while the S&P500 rose 0.33%. On the other side, the US Dollar extended its recovery, in the meantime, gold prices retreated ending the day below the $2000 mark.
Looking at the major economic releases for today, in the UK, traders will be waiting for the latest employment data to drive the British pound price action. February’s unemployment rate is likely to remain unchanged at 3.7% while employment change is expected to have declined from 65K down to 50K only.
In Canada, market participants expect an increase in inflation as the CPI figures are due to rise from 0.4% to 0.5%. If those estimates are confirmed, the Bank of Canada might review its last decision to stop raising interest rates for an extended period.
Below, we will be analyzing the latest price action developments in the major currency pairs alongside gold.