The US dollar held the higher ground near two-month highs against its main competitors in Monday’s Asian trading, kicking-off a Big week on the front foot following upbeat US Q2 GDP growth figures. Therefore, most majors kept range near multi-week troughs, as markets refrained from taking any directional bets ahead of the central bank bonanza and US-China trade talks. The USD/JPY pair traded up and down around 108.50 levels amid the weakness in Treasury yields and equities. The Aussie hit monthly lows just ahead of the 0.69 handle, despite upbeat Australian HIA New Home Sales data while the Kiwi also traded weaker near 0.6630 region. Heading into Europe, the EUR/USD pair traded flatlined near 1.1130 level, consolidating last week’s losses. The Cable remained on the offers near 28-month lows of 1.2362 amid increased odds of a no-deal Brexit. Meanwhile, the safe-haven gold benefited from risk-aversion and held near 1420 levels, having retreated from session tops. Meanwhile, both crude benchmarks traded modestly flat ahead of the US’ deadline on the Iranian sanctions waivers. Main Topics in Asia U.S.-China talks set to resume as neither seems eager for a deal Hope is that US and China commit to “goodwill” gestures and clear the path for future negotiations Boris Johnson told no-deal Brexit will leave crush domestic policy plans – Guardian WTI holds weaker below key MAs as trade woes confront geopolitics Gold prices firm at the start of the week ahead of key risks event clash ECB’s Nowotny predicts historically low interest rates in long term – Reuters Ex-Fed’s Yellen: Inclined for a 25 bps rate cut this week China’s CommerceMin: To launch anti-dumping probe into some chemical products from US, EU and Japan UK TradeMin Truss: Main priority now will be agreeing a free-trade deal with the US EU must move faster to prepare for no-deal Brexit risk – CBI Key Focus Ahead There is nothing of note, in terms of macroeconomic data, to start the European trading week, except for the Spanish July Preliminary CPI figures and the UK June Mortgage Approvals and Credit data. Therefore, all eyes will remain on the Brexit/ political headlines, as the UK Prime Minister (PM) Johnson is set to visit Scotland, as part of a trip that will see the PM promote the Union. In the NA session, the US Dallas Fed Manufacturing Business Index for July will be reported at 1430 GMT amid a data-light US docket, as markets await the restart if the US-China trade talks and the Bank of Japan (BOJ) monetary policy decision due on Tuesday. EUR/USD holds steady above 1.1100 ahead of a Big week The EUR/USD pair trades around a flat-line near 1.1130 region, consolidating last week’s declines, as markets remain unnerved ahead of the key FOMC, Eurozone flash GDP and US payrolls data due later this week. GBP/USD: Bears dominate amid Brexit/political pessimism GBP/USD recovers from April 2017 bottom as it trades near 1.2370 ahead of the London open. No-deal Brexit fear keeps weighing on the GBP/USD pair. In addition to trade/political headlines, the UK’s second-liner data will be eyed for some trading directives. GBP/USD Forecast: BOE may deal the next blow after Boris Johnson’s botched start GBP/USD has been suffering from the Brexit impasse and USD strength. The Bank of England’s “Super Thursday” stands out. Late July’s daily chart points to further falls. Key events in the week ahead – Rabobank The Rabobank Research Team offers a brief preview of the key events to watch out for in the week ahead. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Asian shares wobble as all eyes on US-China trade talks, FOMC FX Street 4 years The US dollar held the higher ground near two-month highs against its main competitors in Monday's Asian trading, kicking-off a Big week on the front foot following upbeat US Q2 GDP growth figures. Therefore, most majors kept range near multi-week troughs, as markets refrained from taking any directional bets ahead of the central bank bonanza and US-China trade talks. The USD/JPY pair traded up and down around 108.50 levels amid the weakness in Treasury yields and equities. 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