Here is what you need to know on Monday, April 8:

Gold preserved its bullish momentum and hit a new all-time high above $2,350 at the weekly opening after gaining over 4% in the previous week. Sentix Investor Confidence data for April will be featured in the European economic docket and the US calendar will not offer any high-impact data releases on Monday. 

Forecasting the Coming Week: Markets maintain focus on inflation.

The data from the US showed on Friday that Nonfarm Payrolls (NFP) rose 303,000 in March and the Unemployment Rate edged lower to 3.8% from 3.9% in February. Both of these prints came in better than analysts' estimates and helped the US Dollar (USD) stay resilient against its major rivals heading into the weekend. According to the CME FedWatch Tool, markets are pricing in a 52% probability that the Fed will leave the policy rate unchanged at the June policy meeting, up from nearly 40% before the jobs report.

EUR/USD staged a late rebound after dipping below 1.0800 on Friday and closed the week in positive territory. The pair moves up and down in a tight channel below 1.0850 early Monday.

GBP/USD stabilized above 1.2600 following a volatile American session on Friday and ended the week with small gains. The pair holds steady at around 1.2620 in the early European session.

Gold staged a correction and erased a large portion of its daily gains following the record-setting rally. XAU/USD was last seen trading modestly higher on the day near $2,040.

USD/JPY reversed its direction after falling below 151.00 on Friday and ended the day in positive territory. The pair continues to inch higher on Monday and closes in on 152.00