US dollar
The US dollar eased on Monday as the prospect of an early rollout of coronavirus vaccines offset concerns about economic restrictions to control the spread of the virus, favouring risk assets for the moment.
The euro edged up to $1.1875, having repeatedly failed to break above $1.19 last week. The dollar has also been drifting slowly lower on the Japanese yen and last stood at 103.82, still below the 104.00 level.
European stock markets opened higher Monday as investors react with optimism over the continued progress towards workable coronavirus vaccines. The pound is continuing to keep higher in the EU session, with cable now rising near 1.3330 as there has been a few more positive news in the UK to start the week.
Oil prices extended gains on Monday as traders eyed a recovery in crude demand thanks to successful coronavirus vaccine trials, although prices were contained by renewed lockdowns in several countries. Spot Gold added 0.19% to $1,874 per ounce, focusing on covid and vaccine updates.
Looking forward in the session ahead, Germany’s Markit Manufacturing and Services PMI are coming at 08:30 GMT, followed by Eurozone and UK’s Manufacturing and Services PMI at 09:00 GMT and 09:30 GMT respectively. In the NA session, the US Manufacturing and Services PMI prints for October is due at 14:45 GMT and will be closely watched.