The Dollar experienced, in most cases, a bearish trading day on Monday as it fell against the EUR, the CAD and the CHF. With regards to the British Pound, the British currency tumbled vs. the USD, EUR and JPY.

Crude Oil and Gold, rising significantly on Monday, helped put additional downward pressure on the USD. This trend accelerated as the trading day continued to unfold.

Daily Forex Tips

08:30 GMT – GBP CPI

Measures the change in the price of goods and services that are produced by the British economy.
Positive results are likely to lead to a bullish GBP.
09:00 GMT – EUR German ZEW Economic Sentiment

There is expected to be high volatility in the forex market on the publication of this data.
If economic sentiment continues to rise in Europe, the EUR and CHF could go bullish in today’s trading.

Tentative – USD Federal Budget Balance

The difference in the value between the federal budget’s spending and income during the previous month.
The indicator is expected to rise from the previous reading.
A higher than forecast figure may push the USD lower. Whereas a lower than forecast result could push the USD far higher today