Stocks edge higher while Oil prices drop from three-week high

Chris Beauchamp IG

Risk appetite continues to recover on Wall Street, while signs of progress in peace talks have pressured oil prices, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.

Rebound on Wall Street slows

Trading in recent sessions has been mercifully free of any tariff-related ‘tape bombs’, allowing US stocks to stage a decent rebound from their lows. But the uncertainty ahead of 2 April remains. Corporate insiders have stepped up their buying, which is normally a good sign, key levels like 42,000 on the Dow have been recovered, but for many the rally still remains suspect. Perhaps a coherent plan on tariffs will emerge, but it still feels like the US administration, and markets generally, are stumbling around in the dark.

Oil prices retreat from three-week high

Oil briefly hit a multi-week high today, but reports of an agreement between Russia and the US to stop striking energy facilities meant that crude turned lower during the afternoon. Crude’s bounce from the lows of March has had the feel of a temporary relief rally, and small signs of progress in a peace deal may be just enough to tip energy prices into a fresh downward move.

Author

Chris Beauchamp

EUR/USD: US Dollar to remain pressured until uncertainty fog dissipates

Unimpressive European Central Bank left monetary policy unchanged for the fifth consecutive meeting. The United States first-tier employment and inflation data is scheduled for the second week of February. EUR/USD battles to remain afloat above 1.1800, sellers moving to the sidelines.

GBP/USD softens to near 1.3600 as BoE hints further rate cuts

The GBP/USD pair loses ground to near 1.3610 during the early Asian session on Monday. The Pound Sterling softens against the Greenback amid growing expectations of the Bank of England’s interest-rate cut. Traders will take more cues from the Fedspeak later on Monday.

Gold eyes acceptance above $5,000, kicking off a big week

Gold is consolidating the latest uptick at around the $5,000 mark, with buyers gathering pace for a sustained uptrend as a critical week kicks off. All eyes remain on the delayed Nonfarm Payrolls and Consumer Price Index data from the United States due on Wednesday and Friday, respectively.

Top Crypto Gainers: Aster, Decred, and Kaspa rise as selling pressure wanes

Altcoins such as Aster, Decred, and Kaspa are leading the broader cryptocurrency market recovery over the last 24 hours, as Bitcoin holds above $70,000 on Monday, up from the $60,000 dip on Thursday.

Weekly column: Saturn-Neptune and the end of the Dollar’s 15-year bull cycle

Tariffs are not only inflationary for a nation but also risk undermining the trust and credibility that go hand in hand with the responsibility of being the leading nation in the free world and controlling the world’s reserve currency.

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.