US stocks closed higher on Monday, as gains in Telecoms, Technolgy, and Financials lifted the market. The Dow Jones rose by 0.37%, the S&P 500 by 0.18%, and the NASDAQ added 0.28% to its value. The US dollar rose against a basket of major currencies on upbeat manufacturing data, but gains were capped as investor concerns over a continued slowdown in inflation weighed on sentiment. Gold fell, closing at $1,294 an ounce. Crude Oil fell, closing at $51.82 a barrel.
The euro fell versus the dollar on Monday, closing at 1.1783. On the 1-hour chart, the EUR/USD pair is trading above its support level at 1.1780 with the ADX indicator below 20. Maintaining these conditions may take the pair higher towards 1.1830, while breaking below the line may start a bearish trend towards 1,17. The pound rose versus the dollar, closing at 1.3236. On the 4-hour chart, the pair is trading below its Moving Average. Holding these conditions may take the pair lower towards 1.31, while breaching above the Moving Average may start a bullish trend towards 1.34. Today, the CPI is expected at 3% vs, 2.9’% previously.
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