The US Dollar (USD) traded mostly unchanged on Monday as a temporary pause in hostilities between the United States and Iran reduces demand for safe-haven assets. The US Dollar Index (DXY) traded lower earlier in the session but moved closed to breakeven by the late American afternoon.

West Texas Intermediate (WTI) US Oil extends its decline on Monday, trading around $82.60 per barrel at the time of writing, down 7.4% on the day.

Gold (XAU/USD) has been consolidating gains during the European trading session, following a bullish gap at the week’s opening as a moderate improvement of risk sentiment hurt the safe-haven USD.

Silver (XAG/USD) rallies on Monday and trades around $59.45 at the time of writing, up 2.27% on the day.

The British Pound (GBP) is up 0.15% to near 1.3345 against the US Dollar (USD) during the European trading session on Monday.

Here is what you need to know on Monday, July 27:

The Euro (EUR) has picked up towards the 0.8540 area against the British Pound (GBP) on Monday, after a mild pullback on Friday found support at 0.8530. The pair maintains the immediate bullish trend from mid-July lows at 0.8455, with bulls looking at three-week highs in the area of 0.8555. 

EUR/JPY gains ground after registering minor losses in the previous day, trading around 186.50 during the Asian hours on Monday. The currency cross is keeping a bullish near-term bias as it holds above both the nine-period and 50-period Exponential Moving Averages (EMAs).

Silver price (XAG) trades sharply higher near $60.00 during the Asian trading session on Monday. The white metal starts the week on a firm note as the pause in military aggression between the United States (US) and Iran has sent oil prices sharply lower.

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – opens with a bearish gap at the start of a new at the start of a new week and retreats further from its highest level since June 8, around the $92.25 zone, touched last Thursday.