Canada Housing Starts s.a (YoY) came in at 254.1K, above forecasts (248K) in November

EUR/USD is rallying ahead of Monday's US session opening, trading above 1.1750 at the time of writing, with last week's high, at 1.1762, at a short distance.

The US Dollar (USD) is trading defensively across major currencies, with potential to drift toward the lower end of its June–December range.

Gold (XAU/USD) kicks off the week on a firm footing, extending its advance for a fifth consecutive day as uncertainty over the Federal Reserve’s (Fed) monetary policy outlook keeps traders defensive.

EUR/USD remains firm as markets brace for a packed week of events, including the European Central Bank (ECB) meeting, EU Council decisions on Ukraine reparations and Mercosur, and key eurozone data releases.

USD/CNH remains pressured near recent lows, weighed by broad USD softness and a low USD/CNY fix. While daily momentum is mildly bearish and RSI approaches oversold levels, a break below 7.0380 could trigger further downside, whereas resistance sits at 7.08.

The Pound Sterling (GBP) starts the Bank of England’s (BoE) monetary policy week on a cautious note against its major peers.

The USD/JPY trades 0.5% lower to near its weekly low around 155.00 during the European trading session on Monday. The pair is under pressure as the Japanese Yen (JPY) outperforms its peers, following the release of the Japan’s Q4 Tankan Manufacturing Index and Outlook data.

Markets are focused on US macro data and Federal Reserve (Fed) communication, with November NFP expected to show weak job growth and a higher unemployment rate.

USD/JPY remains range-bound as markets brace for the Bank of Japan's (BOJ) expected rate hike this week, with a 92% probability priced in. While the dollar's fate will largely dictate JPY movement, a meaningful JPY recovery hinges on further BOJ guidance and fiscal discipline.

Weak UK GDP data has weighed on the pound ahead of a pivotal week featuring jobs data, CPI and a likely Bank of England (BoE) rate cut.

Silver’s (XAG/USD) appreciates more than $2 so far on Monday, reaching intra-day gains near $63.80 and approaching the fresh all-time highs at $63.65, after bouncing from lows near right below the $61.00 line on Friday.Precious metals are trading on a firm tone on Monday, fuelled by a cautious marke

Canada’s Consumer Price Index (CPI) data for November is scheduled to be published today at 13:30 GMT.

Gold has confirmed a bullish breakout above its multi-week consolidation, signalling a renewed uptrend.

The Indian Rupee (INR) starts the week on a bearish note against the US Dollar (USD), extending its losing streak for the third trading day.

November IP growth remained solid at 4.8% y/y thanks to an export-growth rebound after the trade deal. Real estate and infrastructure FAI declined deeper; policy makers vowed to stabilise investment.

USD/MXN has turned lower again after failing to reclaim its 50-day moving average, breaking beneath consolidation support and reviving bearish momentum. The focus now shifts to downside targets near 17.85–17.60, with rallies likely capped around 18.37, Société Générale's FX analysts note.

The Eurozone industrial sector activity unexpectedly expanded in October at a robust pace of 0.8% against 0.2% in September, according to the latest data published by Eurostat on Wednesday. Economists expected the data to rise moderately by 0.1%.

Eurozone Industrial Production w.d.a. (YoY) rose from previous 1.2% to 2% in October

Eurozone Industrial Production s.a. (MoM) came in at 0.8%, above expectations (0.1%) in October

NFP likely has been overstated since April 2024 by c.60k per month owing to birth-death adjustments. Actual job growth likely was much weaker in 2024 than the market had initially perceived.

Silver prices (XAG/USD) rose on Monday, according to FXStreet data. Silver trades at $63.83 per troy ounce, up 3.19% from the $61.85 it cost on Friday.

The GBP/JPY pair is down 0.5% around 207.30 during the European trading session. The pair faces intense selling pressure as the Japanese Yen (JPY) outperforms across the board, following the release of the Japan’s Tankan Q4 business sentiment data.

The report by State Secretariat of Economic Affairs on Economic Forecasts shows that the inflation is projected to average at 0.2% in 2025 and 2026, and is estimated to grow by 0.5% in 2027.

Turkey Budget Balance climbed from previous -223.2B to 169.5B in November

Turkey Budget Balance: 169.49B (November) vs -223.2B

India Trade Deficit Government: $24.53B (November) vs previous $41.68B

Switzerland Producer and Import Prices (MoM) registered at -0.5%, below expectations (0.1%) in November

Switzerland Producer and Import Prices (YoY) up to -1.6% in November from previous -1.7%

The Japanese Yen (JPY) sticks to its intraday gains through the early European session on Monday and seems poised to apprciate further amid hawkish Bank of Japan (BoJ) expectations.