FX Today: Focus should be on RBA Minutes, ADP Weekly and Fedspeak

The US Dollar (USD) managed to regain fresh upside impulse on Monday, rebounding from recent multi-day lows as market participants continued to gauge upcoming US data releases and the likelihood of further rate cuts by the Federal Reserve.

Here's what to watch on Tuesday, November 18:

The US Dollar Index (DXY) added to Friday's marginal gains, advancing modestly and flirtign with three-day highs around the 99.50 region. The ADP Employment Change Weekly is due, seconded by Factory Orders, the NAHB Housing Market Index and the API's weekly report on US crude oil inventories. In addition, the Fed's Logan and Barr are due to speak.

EUR/USD retreated for the second day in a row at the beginning of the week, extending Friday's correction to the 1.1590-1.1580 band. The speeches by the ECB's Machado, Tuominen, Buch and Elderson will be on top of the euro agenda.

GBP/USD came under further downside pressure, revisiting the boundaries of the 1.3130 region amid the stronger Greenback. The speech by the BoE's Dhingra will be the only event across the Channel.

USD/JPY resumed its uptrend on Monday, revisiting the 155.30 region for the first time since early February. Next on tap in Japan will be the Balance of Trade results followed by Machinery Orders on November 19.

AUD/USD set aside Friday's uptick and confronted multi-day troughs near the key 0.6500 support. The RBA Minutes will take centre stage in Oz.

WTI rose for the third straight day, briefly surpassing the key $60.00 mark per barrel as traders assessed the resumption of exports at the Russian port of Novorossiysk on Sunday, all amid the steady threats of further Ukrainian attacks to Russian oil facilities and potential extra US sanctions on Russian oil.

Gold extended its pullback on Monday, sliding toward the $4,000 mark per troy ounce after reaching levels north of $4,200 last week. It's the precious metal's third straight daily decline, dragged lower by another round of US Dollar strength and mixed US Treasury yields. Silver, meanwhile, managed to claw back some ground after its sharp recent drop, briefly pushing back above the $51.00 level per ounce.