Here is what you need to know on Monday, February 17th:

  • US data released on Friday was mixed, with Retail Sales up by 0.3% but the core reading disappointing by holding flat, while Industrial Production fell in January. Michigan’s Consumer Sentiment jumped to 100.9 in February according to preliminary estimates, beating expectations and partially offsetting the negative headlines.
  • During the weekend, China reported that there were 68,500 cases of coronavirus, while the death toll rose to 1,669. A Chinese woman died in France, the first death reported in Europe. Concerns likely to keep the market in risk-off mode.
  • EUR/USD remained pressured and settled at its lowest since April 2017 as Germany Q4 GDP showed that the economy didn’t grow in the three months to December.
  • GBP/USD flirted with 1.300 but bounced, holding on to  Cabinet reshuffle-related gains.
  • Gold prices benefited for increased demand for safety. Spot gold settled at $1,583.74 a troy ounce.
  • Crude oil prices edged higher at the end of the week, as Russian oil producers favour extending production cuts.
  • Cryptocurrency market update: Ethereum stands tall amid broad crypto correction

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content


Recommended content

Editors’ Picks

AUD/USD remains pressured towards 0.6900 on Australian jobs negative surprise

AUD/USD remains pressured towards 0.6900 on Australian jobs negative surprise

AUD/USD stays directed towards 0.6900 following a negative surprise in the Australian Employment Change data. Softer wage and jobs data will likely dissuade the RBA from aggressive tightening. Investors assess Fed minutes and US-Taiwan news. 

AUD/USD News

EUR/USD drops towards 1.0150 amid risk-aversion, ahead of US data

EUR/USD drops towards 1.0150 amid risk-aversion, ahead of US data

EUR/USD turns south after rejection at 1.0200 as risk-off flows dominate. US dollar finds demand, despite weaker yields and cautious Fed minutes. The euro looks vulnerable amid the deepening EU energy crisis and growth risks.

EUR/USD News

Gold eyes a daily close below 21 DMA for further downside Premium

Gold eyes a daily close below 21 DMA for further downside

Gold price is fading the early bounce this Thursday, as the US dollar is seeing renewed buying interest amid the extension of risk-off flows. Dire Chinese economic outlook combined with Fed’s caution on a potential downturn keep investors on the edge.

Gold News

Shiba Inu price to provide another opportunity before a 50% upswing

Shiba Inu price to provide another opportunity before a 50% upswing

Shiba Inu price is on the verge of triggering another run-up, but it needs to allow investors who partook in the previous rally to book profits. As a result, more market participants are likely to flock around the next support level, triggering another leg-up.

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!

BECOME PREMIUM

Forex MAJORS

Cryptocurrencies

Signatures