West Texas Intermediate (WTI) US Oil advances at the start of the week, trading around $59.30 at the time of writing.

The Euro (EUR) steadies against the US Dollar (USD) on Monday, with EUR/USD hovering near two-week highs reached earlier in the day as traders digest the latest ISM Manufacturing Purchasing Managers Index (PMI) data.

The GBP/USD post modest gains rise over 0.20% on Monday as investors grow confidence that the Federal Reserve might cut rates in the next week meeting, and traders prized in a possible nomination of the White House Economic Adviser Kevin Hassett to succeed Powell at the Fed.

Canada’s November Labour Force Survey will be pivotal for judging whether recent job gains reflect genuine labour-market improvement or mere statistical noise.

The Institute for Supply Management’s (ISM) data showed the Manufacturing PMI edging lower to 48.2 in November, down from 48.7 in October and short of analysts’ expectations of 48.6.

United States ISM Manufacturing PMI below forecasts (48.6) in November: Actual (48.2)

United States ISM Manufacturing Prices Paid below expectations (59.5) in November: Actual (58.5)

United States ISM Manufacturing Employment Index declined to 44 in November from previous 46

United States ISM Manufacturing New Orders Index dipped from previous 49.4 to 47.4 in November

Copper and PGMs stand out as traders aggressively stockpile metals, straining already thin global inventories.

United States S&P Global Manufacturing PMI above forecasts (51.9) in November: Actual (52.2)

The British Pound (GBP) softens against the Japanese Yen (JPY) at the start of the week as hawkish comments from the Bank of Japan (BoJ) Governor Kazuo Ueda lift the Yen across the board. GBP/JPY trades near 205.25 at the time of writing, marking its lowest level in five days.

Canada S&P Global Manufacturing PMI dipped from previous 49.6 to 48.4 in November

The Japanese Yen (JPY) is outperforming all G10 currencies, rising 0.6% against the US Dollar (USD) as markets interpret Governor Ueda’s latest remarks as a hawkish shift.

The British Pound (GBP) is largely flat against the US Dollar (USD) heading into Monday’s North American session, underperforming most G10 peers, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Euro (EUR) is entering Monday’s NA session with a 0.3% gain and is outperforming all of the G10 currencies with the exception of Japanese Yen (JPY), Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Canadian Dollar (CAD) is down fractionally on the session against the US Dollar (USD) but losses are very modest and spot is all but unchanged in effect over the weekend, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

Gold (XAU/USD) kicks off the new month on a firm footing, climbing to its highest level since October 21 on Monday, as risk-off sentiment underpins safe-haven demand, while traders gear up for another interest rate cut by the Federal Reserve (Fed) at its December 9-10 monetary policy meeting.

The Euro (EUR) pares some of its early gains against the Swiss Franc (CHF) on Monday as traders digest stronger-than-expected Swiss Real Retail Sales alongside softer Eurozone manufacturing signals. At the time of writing, EUR/CHF is trading around 0.9324, easing from a daily high of 0.9338.

USD/CHF trades lower on Monday, around 0.8010 at the time of writing, down 0.25% on the day. The pair comes under pressure from a weakening US Dollar (USD) as investors increasingly price in additional monetary easing from the Federal Reserve (Fed).

Brazil S&P Global Manufacturing PMI climbed from previous 48.2 to 48.8 in November

EUR/USD maintains a firm tone and extends gains for the sixth consecutive day on Monday, trading at two-week highs beyond 1.1630 at the time of writing.

The Chinese Yuan (CNY) appreciated to 7.0742 per US Dollar (USD) in November, its strongest level since October 2024, after the White House extended the suspension of reciprocal tariffs on Chinese imports until November 2026.

(This story was corrected on December 1 at 13:30 GMT as its content was written based on an old report, making it outdated from the moment of its publication. The story shouldn't have been published.)

Japanese Yen (JPY) and South-Korean Won (KRW) have fallen sharply against the US Dollar (USD) over the past three months, prompting warnings from Tokyo and Seoul.

Gold (XAU/USD) rallies for the second consecutive day on Monday, reaching fresh six-week highs above $4,250.

(This story was corrected on December 1 at 13:30 GMT as its content was written based on an old report, making it outdated from the moment of its publication. The story shouldn't have been published.)

EUR/USD may extend gains in December after holding 1.15 support, as ECB President Lagarde is expected to signal rates are appropriate, supporting the euro amid a resilient Eurozone economy and stable conditions in France, DBS' Senior FX Strategist Philip Wee notes.

(This story was corrected on December 1 at 13:30 GMT as its content was written ahead of the Reserve Bank of New Zealand monetary policy announcement. The content was published after the data release, making it outdated from the moment of its publication. The story shouldn't have been published.)

The US Dollar (USD) enters December under pressure, with markets heavily pricing in a Fed rate cut next week amid a softer labor market and the scheduled end of quantitative tightening, DBS' Senior FX Strategist Philip Wee notes.