Daily summary

EURUSD recovered from the early losses. The pair rebounded back to above 1.0880 after the data published by Destatis revealed upbeat German Factory Orders data. If the pair regains further upside momentum and press back above 1.0900 then the key resistance area to watch is 1.0940.

Coinbase (NASDAQ: COIN) stock bounce more than 13% on Monday after the Chicago Board Options Exchange (CBOE) and Nasdaq named Coinbase in their refiled applications to launch a spot bitcoin Exchange-Traded Fund. The U.S. Securities and Exchange Commission (SEC) had previously rejected CBOE's application, citing concerns about fraud and market manipulation.

The Australian dollar remains volatile after the RBA decision. The currency pair initially fell after the Reserve Bank of Australia surprised markets by holding rates unchanged in its monetary policy meeting. The central bank decided to leave the cash rate target unchanged at 4.10 percent following a 25-basis point lift last month.

Bulls are holding ground on the last trading day of the week, the last trading day of the month, and the last trading day of the quarter. The US dollar turned more bullish following the release of upbeat US economic data and stocks in the US which ended in positive territory on Thursday.

The US dollar remains steady ahead of the revised version of the US Gross Domestic Product for the first quarter of 2023, which is set to be released at 12:30 GMT. The outcome of the final prints of the Q1 growth rate should be a big piece of the next trend for the king dollar.