Calm Monday for Spreads [Video]

Dukascopy Bank Team Dukascopy Bank SA

This is the Dukascopy Spike Controller for Monday with a look at the average and peak spread levels for the 3 non-cross majors. Euro/Dollar’s daily average and maximum spreads are point 36 and point 8 pips respectively. The pair has pushed higher during the early trading hours, gaining point 49% or 56 pips, moving towards the 1 16 level. Spreads have been relatively calm so far this week, not exceeding point 8 pips. The Cable’s long term average spread is point 83 pips and both of the sides were 1.9 pips apart yesterday. Pound/Dollar has gained ground in a sharp rise, moving above the 1 31 level as it gained point 58% or 76 pips. Spreads were elevated for a number of ticks yesterday at 11 PM GMT, but 1.9 pips is the line that shouldn’t have been crossed. And last up is the Dollar/Yen, which has a daily average spread of point 3 pips. Peak separation has been point 9 pips. Greenback took a slide against the Yen, dropping by point 54% or 61 pips. Despite the volatile rate movement, spreads have been mostly narrow, peaking at only point 9 pips yesterday at 11 PM. I’m Jack Everitt and that's how things look at 10 AM GMT.

Author

Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

EUR/USD climbs to two-week highs beyond 1.1900

EUR/USD is keeping its foot on the gas at the start of the week, reclaiming the 1.1900 barrier and above on Monday. The US Dollar remains on the back foot, with traders reluctant to step in ahead of Wednesday’s key January jobs report, allowing the pair to extend its upward grind for now.

GBP/USD hits three-day peaks, targets 1.3700

GBP/USD is clocking decent gains at the start of the week, advancing to three-day highs near 1.3670 and building on Friday’s solid performance. The better tone in the British Pound comes on the back of the intense sekk-off in the Greenback and despite re-emerging signs of a fresh government crisis in the UK.

Gold treads water around $5,000

Gold is trading in an inconclusive fashion around the key $5,000 mark on Monday week. Support is coming from fresh signs of further buying from the PBoC, while expectations that the Fed could turn more dovish, alongside concerns over its independence, keep the demand for the precious metal running.

Crypto Today: Bitcoin steadies around $70,000, Ethereum and XRP remain under pressure

Bitcoin hovers around $70,000, up near 15% from last week's low of $60,000 despite low retail demand. Ethereum delicately holds $2,000 support as weak technicals weigh amid declining futures Open Interest. XRP seeks support above $1.40 after facing rejection at $1.54 during the previous week's sharp rebound.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Bitcoin, Ethereum, and Ripple prices consolidated on Monday after correcting by nearly 9%, 8%, and 10% in the previous week, respectively. BTC is hovering around $70,000, while ETH and XRP are facing rejection at key levels. Traders should be cautious: despite recent stabilization, upside recovery for these top three cryptocurrencies is capped as the broader trend remains bearish.