Pound (GBP) muted ahead of key data
The pound (GBP) treaded water through yesterday's session as GBP investors braced for the UK's upcoming employment and GDP figures.
These reports carry added weight as they could strengthen or weaken the case made by hawkish members within the Bank of England (BoE) in a narrower-than-expected decision to cut rates last week.
First up is this morning's jobs data, with Sterling beginning to appreciate after June's figures reported a much smaller-than-expected fall in payrolls.
Euro (EUR) steady amid Ukraine hopes
The euro (EUR) was stable on Monday, with EUR sentiment buoyed by the cautious optimism regarding upcoming Ukraine peace talks between US President Donald Trump and his Russian counterpart, Vladimir Putin.
While there is a great deal of scepticism surrounding the talks, markets hope it will at least be a small step towards bringing peace to Europe for the first time in over three years.
Turning to today's session, the euro is likely to come under pressure if Germany's latest ZEW economic sentiment index reports morale in the Eurozone's largest economy deteriorated this month.
US dollar (USD) buoyed by cautious mood
The US dollar (USD) opened this week's session on positive footing, with the safe-haven currency catching bids from jittery investors.
However, the dollar's upside potential remained limited, with USD investors reluctant to bid too aggressively ahead of the latest US consumer price index.
July's CPI figures will be centre stage today, with the US dollar potentially strengthening if a rise in headline and core inflation prompts a trimming of Federal Reserve rate cut expectations.
Canadian dollar (CAD) wavers as oil prices fluctuate
Trade in the Canadian dollar (CAD) was a little choppy on Monday, as fluctuating oil prices infused volatility into the commodity-linked currency.
In the absence of any notable domestic data, it's likely the 'loonie' will continue to move in tandem with oil prices today.
Australian dollar (AUD) slides as RBA cuts rates
The Australian dollar (AUD) trended lower overnight on Monday, after the Reserve Bank of Australia (RBA) announced a widely expected 25-basis-point rate cut, with RBA Governor Michele Bullock also stating that the bank does 'not rule out back-to-back rate cuts'.
New Zealand dollar (NZD) slips in cautious trade
The New Zealand dollar (NZD) also weakened in overnight trade amid a broadly risk-averse market mood.
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