The US stock market was closed on Monday in observance of President’s Day.
Last week all US major stock indexes were down while the US Dollar continue to fight for a clear direction in the near term.
Overall, market sentiment remains mixed amid global economic risks and uncertain interest rate expectations.
Looking at today’s European trading session, traders await a set of economic releases from the UK. Both the Manufacturing and services PMIs are expected to rise from 47.0 to 47.5 and from 48.7 to 49.2 respectively.
In Canada, forecasts are pointing to higher inflation in January, the CPI is due to rise from -0.6% up to 0.7% while retail sales are seen at 0.4% compared to -0.1% previously.
Looking now at the latest price action developments in the major currency pairs alongside gold.