Summary:

• Bitcoin resumes its downtrend

• USD recovers being the strongest G10 currency

• Mixed trading session in Europe

Monday lacks important macroeconomic releases therefore the trading in the morning was rather calm. The greenback manage to pare some of its recent losses and is the strongest currency amid G10 basket. The oil prices retreat while agricultural commodities surge. Gold declines severely on the back of USD strengthening. 

The cryptocurrency market thrilled on Friday on the news coming from Japan. The Coincheck exchange was a subject to one of the biggest digital token thefts. More than a $500 million of NEM coins has been stolen by an unknown hacker or group of hackers.

European stocks opened higher as the progress in German coalition talks was made. SPD leader, Martin Schultz, stressed that his party and Angel Merkel’s CDU need to come together on things like labor, health care and migration as any final deal will be put under a vote by SPD members.

In the early trading USD tries to recoup its losses ahead of Donald Trump’s speech being the strongest currency from the G10 basket on Monday morning. Moreover, the pound has came under pressure once again as PM May is accused of being too mild while negotiating with the EU.

Today’s economic calendar looks empty what is usually the case for Mondays. The US PCE inflation print is going to be published in the early afternoon while the Japanese retail sales print will take the spotlight in the late evening. Apart from that, a pack of important US data is about to be release this week. Moreover, last FOMC meeting headed by Janet Yellen is scheduled for Wednesday.