Trending or Non trending? Why is it so important to your trading

West Texas Intermediate, the US crude oil benchmark, is retracing its spike to above $73 in the Asian session on Friday. WTI jumped to its highest since June 2025 after joint military strikes by the US and Israel against Iran over the weekend. Traders now assess the oil supply flow through the Strait of Hormuz for further cues. 

Gold retreats from the $5,400 neighborhood, or its highest level since late January, touched in the Asian session on Monday, though it manages to hold above the $5,300 round figure. The bright metal opened with a bullish gap of about $17 and rallied toward the $5,400 level as Asian traders hit their desks and reacted negatively to the weekend news of the US and Israel attacks on Iran, rushing for cover in Gold.

AUD/USD recovers after opening at a gap down, trading around 0.7070 during the Asian hours on Monday. The risk-sensitive pair plunged as risk aversion heightened after the United States and Israel carried out coordinated strikes on Iran over the weekend.

Altcoins such as Tezos, Toncoin, and Polkadot rank among the worst hit cryptocurrencies over the last 24 hours amid the US and Israel's attack on Iran. Tezos and Toncoin are down to crucial support levels while Polkadot remains near a crucial resistance trendline, showcasing underlying strength.

As expected, this morning felt less like a Monday market open and more like a fire drill. Futures screens flickered red. S&P contracts down almost 1%. Nasdaq off 1.2%. Brent leaped 13% through $80. Gold rose 1.6% toward $5350 before paring some gains. The dollar is strutting mildly. The Swiss franc is quietly doing what it always does in a storm, catching some safe-haven flows.

We expect the February employment report to show that January’s robust pace of job growth overstated underlying momentum in the labor market. We look for nonfarm payrolls to rise 45K in February, moderating from its current three-month average pace of 73K (Figure 1).