ASB Bank also said that Powell's testimony could move the USA dollar significantly as market participants will be looking for whether market pricing of a 25 basis-point rate cut in July will be ratified.
The euro fell 0.1% to $1.1217, the weakest in nearly three weeks.
Deutsche Bank (DBKGn.DE) shares touched their highest since early May as investors welcomed the bank's move to cut 18,000 jobs around the world as part of a restructuring plan that will cost 7.4 billion euros. The major traded flat at 1.2526, having hit a low of 1.2481 on Friday, it's lowest since January 3.
Deutsche Bank's news helped limit the downbeat sentiment in broader Europe, with the pan-European STOXX 600 index adding 0.07%. If Powell wants to "dissuade the market from getting ahead of itself ahead of the Fed meeting, this week is his opportunity to do so", he said.
As traders' focus quickly shifted to Federal Reserve Chairman Jerome Powell's Congressional testimony, due Wednesday and Thursday this week, Chandler said it might be too late to persuade the market that the Fed will not cut rates now.
The U.S. financial system added a stunningly stable 224,000 jobs in June, effectively above consensus estimates for 160,000 positions.
Gold prices inched higher on Monday after falling sharply in the previous session, as a robust U.S.jobs report dented hopes for a near-term interest rate cut by the Federal Reserve.
Given the FOMC rate cut is still priced in, he said that minutes from the Fed's June meeting - due Wednesday in the United States - and chair Jerome Powell's testimony to Congress are "probably the biggest scheduled factors to consider". The greenback against a basket of currencies traded 0.2 percent up at 97.33, having touched a high of 97.44 on Friday, its highest since June 19.Читайте также: Grandfather's horror as toddler fatally plunges from cruise ship in Puerto Rico
Federal Reserve Chairman Jerome Powell testifies before Congress on monetary policy and the state of the US economy on Wednesday and Thursday.
"Whether the negotiators can find a solution to the hard structural issues that remain between the two sides is another matter, and Kudlow cautioned there was "no timeline" to reach an agreement", National Australia Bank strategist Rodrigo Catril said.
Governor Murat Cetinkaya, whose four-year term was due to run until 2020, was replaced by his deputy Murat Uysal, a presidential decree published early on Saturday in the official gazette showed.
Gold prices surged on Monday and saw consolidation above the $1,400 pivot as global growth concerns and interest rate cuts came to the center stage.
The euro, which dropped to $1.1208 EUR=EBS on Friday, traded at $1.1225, unchanged on the day.
It was last quoted at $1.2513, down 0.2% on the day.
"So far U.S. -Iran tensions have not had a material impact on markets, but if tensions escalate it could be a different story", said NAB's Catril.
US producer prices are due on Friday. Worldwide benchmark Brent crude was trading 0.2 percent lower at $64.31 per barrel by 1013 GMT, having hit a low of $62.06 on Wednesday, its lowest since June 19.При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
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