EUR/USD may trade within a more defined range if the recent rebound in the exchange rate fails to trigger a test of the May high (1.1020).
Fresh data prints coming out of Canada may keep USD/CAD afloat as the headline reading for inflation is expected to contract for the first time since 2009.
The price of gold may continue to track the April range as plans to gradually restart the advanced economies appear to be restoring investor confidence.
USD/CAD may continue to track the April range as Bank of Canada (BoC) Governor Stephen Poloz prepares to depart from the central bank in June.
EUR/USD may trade within a more defined range as the decline from the start of the month fails to produce a test of the April low (1.0727).
The Reserve Bank of New Zealand (RBNZ) interest rate decision may drag on NZD/USD if the central bank endorses a dovish forward guidance for monetary policy.
EUR/USD may continue to give back the advance from the April low (1.0727) as the ECB retains a dovish forward guidance following the German Constitutional Court ruling.
The Canadian Dollar may face headwinds later this week as the update to Canada’s Employment report is anticipated to show a 4.25 million contraction in April.
AUD/USD continues to track the upward trending channel carried over from March even though the Relative Strength Index (RSI) deviates with price.
USD/CAD may continue to track the monthly range as the break of the descending channel formation fails to produce a test of the April high (1.4298).