The dollar might be on the backfoot but it isn't suggestive of much with USD/JPY paring its advance from yesterday as we see a bit more mixed flows ahead of European trading today. The tensions and anxiety from the banking turmoil may be easing but markets are still not finding too much comfort as of yet.
Inflation, economic worries, and central banks going back to their original script are all key drivers to consider now. And once again, we are likely to gear towards anticipating more headline risks down the road. This week, there will be inflation data to watch out for.
After the rejection at the $2,000 mark again on Friday, gold remains one to pay attention to as there might be scope for a deeper pullback or a squeeze as noted here. Meanwhile, oil is also seeing a bit of a revival back above $70 but there are still some things to consider as Adam pointed out here.
It might just be a case where markets will be left bouncing around in this small box until we get to the next big headline.
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