Federal Reserve (Fed) Governor Christopher Waller told Fox Business on Monday that he is advocating for a rate cut at the December policy meeting, per Reuters.

US Dollar (USD) could edge lower to 7.0970; the next support at 7.0910 is unlikely to come into view. In the longer run, downward momentum has increased slightly; for a continued decline, USD must first close below 7.1020, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

EUR/USD is trimming losses on Monday, following a sharp decline last week. The pair is trading near 1.1540 after bouncing at 1.1490 on Friday, favoured by a moderate risk appetite in an otherwise calm start of the week.

USD is likely to trade between 156.20 and 157.35. In the longer run, the likelihood of USD rising to 158.00 is diminishing, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

The price movements are likely part of a consolidation phase between 0.5590 and 0.5625. In the longer run, NZD is expected to move lower; if it breaks below 0.5565, it could decline further to 0.5540, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Australian Dollar (AUD) is likely to range-trade between 0.6440 and 0.6480. In the longer run, the price action suggests there is scope for AUD to test 0.6405, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Silver (XAG/USD) rises slightly at the start of the week and trades around $50.00, up 0.20% on Monday.

The US Dollar retraces some of Friday’s losses and trades at 155.85 in the European midday, up from Friday’s low at 156.20. The positive risk sentiment and ongoing concerns about Japanese PM Takaichi’s expansive policies keep weighing on the Yen, which has depreciated about 7% since early October.

Gold (XAU/USD) trades quietly into the new week as investors weigh the evolving Federal Reserve (Fed) monetary policy outlook alongside improving sentiment in risk assets.

Pound Sterling (GBP) could trade between 1.3065 and 1.3125. In the longer run, there is room for GBP to test the significant support level at 1.3000, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

The Japanese government, which pursued reflationary policies for two decades, has just introduced a fiscal package aimed at alleviating the burden of recent - yep, _too high_ inflation.

Mexico 1st half-month Inflation: 0.47% (November) vs 0.28%

Mexico 1st half-month Core Inflation fell from previous 0.18% to 0.04% in November

CEE currencies gain and EUR/CHF rises above 0.93 as easing energy prices and optimism over US-Russia peace talks boost global growth prospects, weighing mildly on the US Dollar (USD), ING's FX analyst Chris Turner notes, ING's FX analyst Chris Turner notes.

Fed Chair Jay Powell had already indicated in the last meeting: The Federal Open Market Committee (FOMC) is currently deeply divided in terms of the timing of further rate cuts. This has become more than clear through the recent statements of various members.

The Australian Dollar is failing to draw any significant support from the positive market sentiment on Monday.

The US Dollar (USD) faces downside risks this week as cautiously optimistic Ukraine peace talks and the Fed’s Beige Book could temper USD strength, keeping Dollar Index (DXY) near key resistance, ING's FX analyst Chris Turner notes.

Euro (EUR) could test the 1.1490 level again; the major support at 1.1470 is unlikely to come under threat.

EUR/USD remains above 1.1500 as Eurozone economic activity shows resilience and the ECB is expected to stay on hold, limiting downside against a still-restrictive Fed, BBH FX analysts report.

The major foreign exchange rates have remained relatively stable overnight at the start of the holiday shortened week with Thanksgiving falling on Thursday, MUFG's FX analyst Lee Hardman reports.

EUR/JPY trades around 180.70, up 0.35% on Monday at the time of writing. The cross benefits from renewed selling pressure on the Japanese Yen (JPY), weakened by persistent concerns over Japan’s fiscal trajectory and doubts over an imminent rate hike by the Bank of Japan (BoJ).

The US Dollar (USD) consolidates after last week’s gains as New York Fed President John Williams’ dovish remarks raise bets on a December rate cut, supporting equities and stabilizing bonds, BBH FX analysts report, BBH FX analysts report.

The Pound has ticked up from Friday’s lows at 204.30, but it is struggling to find significant acceptance above the 205.00 level on Monday, despite the positive risk sentiment.

EUR/GBP is holding support near 0.8760–0.8770 ahead of the UK budget, with sterling’s upside constrained and some downside risk if the 2026 BoE easing cycle is under-priced, ING's FX analyst Chris Turner notes.

Oil prices ended last week on a weak footing, with ICE Brent down more than 2.8%. This downward pressure continued in early morning today, with Brent trading at its lowest level in over a month. Ongoing talks to reach a Russia-Ukraine peace deal are weighing on the market.

The recent rise in USD/JPY is slowing with the pair falling on Friday. Intervention rhetoric is getting louder and more frequent. Pair was last seen at 156.76 levels.

The Japanese Yen (JPY) has continued to trade close to recent lows at the start of the week after USD/JPY hit a high last week of 157.89. The pair has risen by around 10 big figures since Sanae Takaichi won the LDP leadership election.

EUR/CHF is rebounding strongly after testing key support, with the pair now challenging a major trend line that could unlock further upside, Société Générale's FX analysts note.

European natural gas prices have fallen below EUR 30/MWh for the first time since May, boosting Europe’s terms of trade and offering relief to its struggling manufacturing sector, ING's FX analyst Chris Turner notes.

Brent crude is stabilizing after last month’s trough near $60, but a break above key resistance is needed to confirm a sustained rebound, Société Générale's FX analysts note.