Key Points 

• Major currency pairings fluctuate in typical ranges on Monday
• German IFO sentiment poll results and US National Activity Index to be released
• US Dollar struggles to outperform competitors despite strong PMI readings
• Gold prices drop significantly, Bitcoin and Ethereum also experience losses

What you should be aware of on Monday, April 24 is as follows:

After a tumultuous week, major currency pairings are still fluctuating in their typical ranges early on Monday. German IFO sentiment poll results for April will be made public during European trading hours. The National Activity Index from the Federal Reserve Bank of Chicago will be discussed on the US economic agenda later in the day. Monday's trade activity is probably going to stay quiet ahead of this week's important data releases.

In spite of the US S&P Global Manufacturing and Services PMI readings being stronger than anticipated, the US Dollar has had difficulty outperforming its competitors in the lead-up to the weekend. The US Dollar Index practically remained constant for the week, and early on Monday it continued to move sideways just below 102.00. The benchmark 10-year US Treasury bond yield remains in the red below 3.6%, and US stock index futures continue to move negatively, signaling a cautious market outlook.

During Monday's Asian trading session, the EUR/USD eked closer to 1.1000 but was unable to maintain its upward momentum. Pierre Wunsch, a member of the ECB's Governing Council, stated in an interview with the Financial Times (FT) on Monday that he anticipates the ECB will keep hiking interest rates until wage growth slows.

GBP/USD managed to recover from Friday's decline toward 1.2350 and finished above 1.2400. On Monday morning in Europe, the pair is still trading in a tight channel above that level.

USD/JPY is drifting sideways at approximately 134.00 and is struggling to find direction. The Bank of Japan (BoJ) intends to evaluate and inspect policies adopted over the previous decades, beginning discussions at a two-day conference slated for April 27 and 28 under newly-appointed Governor Kazuo Ueda, according to the Sankei newspaper over the weekend Sunday.

Due to sellers' move on Friday after multiple unsuccessful attempts to recoup $2,000 the previous week, gold prices dropped significantly. The XAU/USD currency pair is trading below $1,980 in the early hours of Monday.

Over the weekend, Bitcoin gradually declined and lost more than 9% on a weekly basis. BTC/USD is trading at roughly $27,500 as of early Monday. Ethereum maintained a low level of activity during the weekend in the wake of Friday's sharp dip, but it also ended a three-week winning streak by losing more than 12%. Monday's European Morning sees ETH/USD trading slightly lower on the day at around $1,850.