USD softer as traders await key US data; quiet European session ahead
The US dollar is trading moderately weaker across major pairs during Monday's European session, with DXY down approximately 0.2% as markets exhibit a push-pull dynamic amid thin economic calendar. EUR/USD edges higher toward 1.0850, while GBP/USD tests 1.3200 resistance as traders position ahead of Tuesday's US economic releases and Friday's crucial data ahead of next week's Non-Farm Payrolls report. The absence of significant European economic indicators today leaves market participants focusing on technical levels and overall risk sentiment. Major pairs are trading within recent ranges, with the dollar's softness attributed to position squaring rather than fundamental drivers. Near-term support for DXY sits at 101.50, with resistance at 102.20. Traders should monitor Tuesday's US data for potential catalysts that could break current consolidation patterns across major forex pairs.
Related Symbols:
EURUSD
GBPUSD
DXY
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