EUR/USD gained traction and rose toward 1.0600 in the European morning after spending the Asian session fluctuating in a very tight channel. The pair'
s technical outlook is yet to show a build-up of directional momentum but a bullish opening in Wall Street could cause sellers to remain on the sidelines.
US Congress passed a stopgap funding bill to temporarily avert a government shutdown late Saturday. The previous budget will be extended for 45 days and government will be funded through November 17. This development seems to be helping the market mood improve on Monday. At the time of press, US stock index futures were rising between 0.5% and 0.8%.
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The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.EUR/USD is consolidating in a narrow range below 1.0600 in early Europe on Monday. The pair keeps its calm amid a steady US Dollar, higher US Treasury bond yields and a cautious mood. US ISM PMI and Powell's speech in focus. GBP/USD is trading around 1.2200, struggling to gain any meaningful traction in the European trading on Monday.
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