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.

The New Zealand Dollar gains over 0.30% against the US Dollar, poised to test key resistance levels, with the 50-day Simple Moving Average (SMA) at 0.5793, slightly below the 0.5800 figure. At the time of writing, the NZD/USD trades at 0.5789, after bouncing off daily lows of 0.5767.