On Monday, the Greenback fell slightly from Friday’s three-month highs vs. a basket of major currencies, while euro was traded higher after falling to its lowest levels since July on Friday. On the release front, the U.S. economy grew at a 3% annual rate in the third quarter, better than forecasts for growth of 2.5%.
The Federal Reserve will be holding a two-day policy meeting on Tuesday and Wednesday at which it is expected to keep rates unchanged.
The single currency traded higher, with EUR/USD rising 0.25% to 1.1637 after falling as low as 1.1573 on Friday. The common currency remained under pressure amid ongoing unrest in Spain’s Catalonia.
On the economic calendar for Monday, markets are waiting German Consumer Price Index, which is expected to hit 1.7% from 1.8%.
The Sterling pound rose as much as 0.21%, to settle at $1.3161 vs. the Greenback as the UK net lending rose more than expected in September. The BOE said that UK Net Lending rose to 3.85 billion, from 3.93 billion in the preceding month, which was revised down from 4.04 billion.
The Greenback fell to ¥ 113.56 down by 0.11% vs. the JPY
Gold traded lower as investors are awaiting cues from the meetings of the Federal Open Market Committee (FOMC) and central banks of England and Japan during the week, while keeping an eye on the appointment of the next U.S. Federal Reserve chair.
Gold Futures - Dec 17 fell as much as 0.2%, to settle at $1,271.58.
Oil prices managed to maintain it gains, with Brent settled above $60 amid expectations that an OPEC-led production cut due to expire next March would be extended, however rising exports from Iraq kept a lid on prices.
Crude Oil WTI Futures - Dec 17 rose as much as 0.9%, to settle at $ 53.95 and Brent Oil Futures - Jan 18 was up 0.48 at $60.42.
Economic Calendar (all times in GMT)
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