This morning, the euro is trading slightly higher despite uncertainty surrounding the next steps for Catalonia and Spain as Madrid takes direct control of the region. The EUR/USD has gapped higher at the open, while the EUR/GBP is higher.
The dollar is off the pace despite GDP data coming in above expectations on Friday.
The Australian dollar is nudging higher, while the NZD/USD is the worst performing currency so far today, testing new lows for the month.
The USD/CAD is unchanged after Friday’s reversal. This comes despite oil prices sustaining near the highs.
The USD/JPY is unchanged after Friday’s reversal.
Today, we have UK net lending to individuals at 09.30.
Following this we get US Core CPE and personal spending at 12.30.
The EUR/USD is under pressure, but there is clear room for further downside from here.