European stocks begin December on a positive note

Chris Beauchamp IG

'Following slowing eurozone inflation European stock indices begin the last month of the year on a positive note' says Axel Rudolph, Senior Market Analyst at online trading platform IG.

Around 125 basis point ECB rate cut now seen in 2024

“Weaker-than-expected eurozone inflation has led to repricing with European yields dropping to multi-month lows as traders price in around 125 basis point ECB rate cuts in 2024. Since Wednesday's three month high, the euro has given back around 1.5% versus the greenback and other crosses. The German DAX 40 rallied by close to a percentage point, French and Italy's indices by around half that with the FTSE 100 for once being the outperformer with gains of over a percent."

US stock trade lower ahead of Powell speech

“Disappointing US factory activity pushed US equity indices slightly lower ahead of a speech by the Fed Chair Jerome Powell. While the US dollar regained some lost ground, the gold price briefly touched a new seven-month high as the oil price flatlined post Thursday's OPEC+ meeting."

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Chris Beauchamp

EUR/USD holds steady above 1.1850 in quiet session

EUR/USD stays defensive but holds 1.1850 amid quiet markets in the European hours on Monday. The US Dollar is struggling for direction due to thin liquidity conditions as US markets are closed in observance of Presidents' Day holiday.

GBP/USD flat lines near 1.3650 ahead of UK and US data

GBP/USD kicks off a new week on a subdued note and oscillates in a narrow range near 1.3650 on Monday. The mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important data releases from the UK and the US.

Gold corrects lower, tries to stabilize above $5,000

Gold started the week under bearish pressure and declined to the $4,960 area before staging a modest rebound. As trading volumes remain thin with the US financial markets remaining closed on Presidents' Day holiday, XAU/USD looks to stabilize above $5,000 ahead of this week's key data releases.

Bitcoin consolidates as on-chain data show mixed signals

Bitcoin price has consolidated between $65,700 and $72,000 over the past nine days, with no clear directional bias. US-listed spot ETFs recorded a $359.91 million weekly outflow, marking the fourth consecutive week of withdrawals.

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.

Monero Price Forecast: XMR risks a drop below $300 under mounting bearish pressure

Monero (XMR) starts the week under pressure, recording a 4% decline at press time on Monday after a 7% drop the previous day, putting the $300 support zone in focus.