Blogs

Thin trade conditions due to the MLK holiday in the US and persevering geopolitical risks dominated the mood among market participants at the beginning of a new trading week.

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The GBP/USD fell back once more on Monday, testing 1.2715 after a short-lived rally at the Modnay open reversed course.

Starting the week, the Silver (XAG/USD) is seeing an uplift, trading around the $23.20 mark.

The Mexican Peso (MXN) made a U-turn after posting solid gains versus the US Dollar (USD) on Friday, weakening amid thin liquidity conditions in the observance of Martin Luther King (MLK) day in the United States (US).

The USD/JPY climbed late in the North American session on Monday amid low volume conditions as the United States (US) financial markets remained closed on Martin Luther King Day.

Gold price extended its gains for three straight days and stayed firm above the $2050 figure on Monday amid thin volume conditions sponsored by a holiday in the United States (US).

The Aussie Dollar (AUD) dropped during the North American session by some 0.42% against the US Dollar (USD) due to sentiment deterioration and low volume conditions, as the financial markets in the United States (US) remained closed on Martin Luther King (MLK) holiday.

In Monday's session, the EUR/GBP pair is seen trading at 0.8600 with a gain of 0.20% and hit a high of 0.8615.

Statistics Canada will release December Consumer Price Index (CPI) data on Tuesday, January 16 at 13:30 and as we get closer to the release time, here are the forecasts by the economists and researchers of five major banks regarding the upcoming Canadian inflation data.