The Eurodollar climbed to a more than seven week high after US Nonfarm payrolls data came in under expectations on Friday.
The British pound dollar currency pair traded higher. The Fed and the bank of England held meetings last week, with both deciding to keep interest rates unchanged.
The USD/Yen pair moved lower after hitting a one year high earlier in the week. The bank of Japan announced it would implement some restrictive measures upon monetary policy.
Gold prices declined last week after US diplomatic efforts in the middle east intensified. The situation in Israel remains tense, the hostages held by hamas have not been released and Israel is yet to complete its military operation in Gaza.
US stocks climbed and indexes recorded one of their best weeks in 2023. In the earnings season Apple beat earnings expectations. Almost two thirds of companies have reported and some 81% recorded results above expectations.
Oil prices fell after Israel continued to adopt a cautious approach in its ground attack on Gaza. Chinese manufacturing and factory data reported below expectations results, suggesting that Chinese oil demand may be weakening. Over the weekend Saudi Arabia and Russia stated they intend to stick to current output levels of 1 million barrels per day and 300,000 bpd respectively.