Precious metal rise lifts Fresnillo

Chris Beauchamp IG

Dollar weakens as Trump mulls new Fed member

Its fairly certain that any Trump nominee who makes it on to the Fed board will push for lower rates, so markets have switched to selling the dollar again, continuing a theme from Friday. With precious metals making headway again Fresnillo is once again near the top of the leaderboard, having already posted a very impressive return this year that puts the rest of the FTSE 100 in the shade.

Apple revives on investment news

Apple has had a miserable time compared to most of the Magnificent 7, but today’s news of a $100 billion commitment to the US allays fears of targeted measures against the company and has lifted the share price. Last week’s earnings seem to have put the lid on bearish sentiment for now, and a decent rally from this struggling titan could be an ideal tonic for tech stocks that are now sorely in need of a catalyst.

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Chris Beauchamp

EUR/USD stays depressed near 1.1850 ahead of German ZEW

EUR/USD remains in the red near 1.1850 in the European session on Tuesday. A broad US Dollar bullish consolidation combined with a softer risk tone keep the pair undermined ahead of the German ZEW sentiment survey.

GBP/USD drops below 1.3600 after weak UK jobs report

GBP/USD is seeing a fresh selling wave, giving up the 1.3600 level in Tuesday's European trading. The United Kingdom employment data showed worsening labor market conditions, bolstering bets for a BoE interest rate cut next month. This narrative is weighing heavily on the Pound Sterling.

Gold pares intraday losses; keeps the red above $4,900 amid receding safe-haven demand

Gold (XAU/USD) attracts some follow-through selling for the second straight day and dives to over a one-week low, around the $4,858 area, heading into the European session on Tuesday.

Pi Network rallies ahead of its first anniversary

Pi Network trades above $0.1800 at the time of writing on Tuesday, recording nearly 5% gains so far. On-chain data indicate that large wallet investors, commonly known as whales, have accumulated approximately 4 million PI tokens over the last 24 hours.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

Stellar mixed sentiment caps recovery

Stellar price remains under pressure, trading at $0.170 on Tuesday after failing to close above the key resistance on Sunday. The derivatives metric supports the bearish sentiment, with XLM’s short bets rising among traders and funding rates turning negative.