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Bojan analyses the markets and setup trades on the Futures markets.
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EUR/USD stabilizes near 1.1800 as markets focus on geopolitics
EUR/USD stays defensive around 1.1800 in the second half of the day on Thursday. The US Dollar stabilizes, following the recent decline led by tariff uncertainty, capping the pair's upside. All eyes now remain on the US-Iran nuclear talks after ECB President Lagarde's testimony failed to impress Euro bulls.
GBP/USD holds above 1.3500, struggles to gain traction
GBP/USD rebound from session lows but stays below 1.3550 on Thursday. The cautious market stance helps the US Dollar stay resilient against its rivals and makes it difficult for the pair gather recovery momentum. Investors await headlines that will come out of the US-Iran nuclear talks.
Gold clings to small gains near $5,200 ahead of US-Iran talks
Gold trades marginally higher on the day above $5,150 on Thursday as investors refrain from taking large positions. The US and Iran will hold the next round of nuclear talks in Geneva on Thursday, outcome of which could have significant implications for risk perception.
Stellar: Relief bounce fades as bearish undertone persists
Stellar is trading around $0.16 at the time of writing on Thursday after rebounding more than 8% in the previous day. Derivatives data paints a negative picture as XLM’s short bets hit a monthly high while Open Interest continues to decline.
The one thing everyone is on the lookout for is US action of some sort against Iran
The FX market is minestrone soup these days. It is befuddled by conflicting data, rumors and small stories exaggerated out of proportion, and Trump-generated uncertainty.
Here is what you need to know on Thursday, February 26
Financial markets adopt a cautious stance early Thursday as focus shifts to US-Iran nuclear talks in Geneva. The European economic calendar will feature business and consumer sentiment data for February. Later in the day, the US Department of Labor will publish the weekly Initial Jobless Claims data, and the Federal Reserve Bank of Kansas City will release the regional Manufacturing Activity Index for February.