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Forex Today: US Dollar struggles to rebound as NFP data revive September rate cut bets

Here is what you need to know on Monday, August 4:

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FX option expiries for Aug 4 NY cut

FX option expiries for Aug 4 NY cut at 10:00 Eastern Time via DTCC can be found below.

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AUD/JPY recovers further from multi-week low, climbs to 95.80 amid a broadly weaker JPY

The AUD/JPY cross attracts some buyers during the Asian session on Monday and reverses a part of Friday's slump to the 95.00 neighborhood, or a nearly four-week low. Spot prices climb to a fresh daily peak, around the 95.80 region in the last hour, and draw support from a combination of factors.

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EUR/USD holds onto gains below 1.1600 as US Dollar trades cautiously

The EUR/USD pair clings to Friday's gains near 1.1570 during the late Asian session on Monday. The major currency pair trades firmly as the US Dollar (USD) has been pushed to the backfoot, following questions over the credibility of the United States (US) data agencies.

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GBP/USD Price Forecast: Resistance appears at 1.3300 near nine-day EMA

The GBP/USD pair moves sideways after registering more than 0.5% gains in the previous day, trading around 1.3280 during the Asian hours on Monday. The bearish bias prevails as the daily chart's technical analysis suggests that the pair moves downwards within the descending channel pattern.

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USD/CHF Price Forecast: Keep a bearish vibe, crucial support level emerges near 0.8000

The USD/CHF pair attracts some buyers to around 0.8050 during the early European session on Monday, bolstered by a firmer US Dollar (USD).

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Gold price edges lower amid modest USD uptick; September Fed rate cut bets limit losses

Gold price (XAU/USD) pulls back from the $3,369 region, or over a one-week top touched during the Asian session on Monday, and for now, seems to have stalled last week's goodish recovery move from a one-month low.

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USD/INR recovers as Indian Rupee weakens ahead of RBI policy

The Indian Rupee (INR) resumes its downside journey against the US Dollar (USD) at the start of the week.

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India Gold price today: Gold steadies, according to FXStreet data

Gold prices remained broadly unchanged in India on Monday, according to data compiled by FXStreet.

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EUR/JPY strengthens to near 171.00 amid uncertainty about timing of BoJ's next rate hike

The EUR/JPY cross gains momentum to near 171.00 during the Asian trading hours on Monday. The Japanese Yen (JPY) weakens against the Euro (EUR) amid reduced Bank of Japan (BoJ) rate hike expectations and political uncertainty in Japan.

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US Dollar Index remains above 98.50, concerns rise as Trump dismisses BLS Commissioner

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is holding its position after registering around 1.5% losses in the previous session. The DXY is trading around 98.70 during the Asian hours on Monday.

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Japan's Akazawa: US-Japan trade deal isn't a legally binding commitment

Japanese Economy Minister and chief trade negotiator,Ryosei Akazawa, said on Monday that the lastest announced trade agreement between the United States (US) and Japan is not a legally binding commitment.

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Silver Price Forecast: XAG/USD flat lines around $37.00; bearish potential seems intact

Silver (XAG/USD) struggles to capitalize on Friday's modest recovery gains and oscillates in a range at the start of a new week as softer US NFP-inspired US Dollar (USD) selling now seems to have abated.

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USD/CAD struggles near 1.3750 due to improved Oil prices

USD/CAD remains subdued for the second successive session, trading around 1.3770 during the Asian hours on Monday. The pair faces challenges as the commodity-linked Canadian Dollar (CAD) receives support from the slight increase in crude Oil prices.

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Japanese Yen drifts lower as USD stalls Friday's softer US NFP-inspired steep decline

The Japanese Yen (JPY) attracts some sellers at the start of a new week and stalls its sharp recovery move from a four-month low touched against its American counterpart on Friday.

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Australian Dollar remains steady following TD-MI Inflation Gauge data

The Australian Dollar (AUD) advances against the US Dollar (USD) on Monday, extending its gains for the second successive trading day. The AUD/USD pair gained ground following the release of Australia's inflation gauge data.

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NZD/USD softens to near 0.5900 ahead of China's trade deadline 

The NZD/USD pair tumbles to near 0.5915 during the Asian trading hours on Monday. Tariff uncertainty between the United States (US) and China weighs on the China-proxy Kiwi. The downside might be limited due to a dismal US jobs report and rising September Federal Reserve (Fed) rate cut bets.

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EUR/USD falls to near 1.1550 despite a dovish tone surrounding Fed policy outlook

EUR/USD depreciates after registering around 1.5% gains in the previous session, trading around 1.1560 during the Asian hours on Monday. The pair loses ground as the US Dollar (USD) recovers its losses of the prior trading day.

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WTI tumbles to below $66.50 after OPEC+ agrees to another bumper output boost

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $66.35 during the early Asian trading hours on Monday. The WTI edges lower after the Organization of Petroleum Exporting Countries and allies (OPEC+) approved another increase in oil production, raising oversupply concerns.

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PBOC sets USD/CNY reference rate at 7.1395 vs. 7.1496 previous

On Monday, the People's Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1395 as compared to Friday's fix of 7.1496 and 7.1774 Reuters estimate.

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