Brent and WTI crude oil prices are down by more than 2.5% amid rising COVID-19 infections worldwide and rising production in major oil-producing countries.
Gold, like other commodity assets, enters the trading week with a decline.
The oil market opens the trading week with a fairly strong down gap.
The dollar gained momentum as expectations about a new round of fiscal stimulus diminished last week.
The upbeat EU data supported the euro, however, the market might become negative any moment now amid coronavirus explosion and uncertainty regarding the US elections.
