Stocks lower as post-election optimism fades

Chris Beauchamp IG

Optimism around the German election result proved short-lived for stocks, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.

Dax clings to gains as sentiment remains cautious

The strong move higher in the German index has been mostly eroded this afternoon, while Wall Street’s positive open has given way to more downside, particularly in tech stocks. Friday’s late slump has cast a shadow over sentiment, while hopes over a Ukraine deal have ebbed away.

Tech stocks come under pressure

The Nasdaq 100 slipped to a two-week low in opening trading this afternoon, though it is barely a week since it hit a fresh record high. Nvidia’s hotly anticipated earnings loom large, being the only major event of note this week. While not directly connected, it is likely that the ongoing tensions in the Western alliance over Ukraine will help keep bullish sentiment in check.

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Chris Beauchamp

EUR/USD keeps the rangebound trade near 1.1850

EUR/USD is still under pressure, drifting back towards the 1.1850 area as Monday’s session draws to a close. The modest decline in spot comes as the US Dollar picks up a bit of support, while thin liquidity and muted volatility, thanks to the US market holiday, are exaggerating price swings and keeping trading conditions choppy.

GBP/USD flirts with daily lows near 1.3630

GBP/USD has quickly given back Friday’s solid gains, turning lower at the start of the week and drifting back towards the 1.3630 area. The focus now shifts squarely to Tuesday’s UK labour market report, which is likely to keep the quid firmly in the spotlight and could set the tone for Cable’s next move.

Gold battle around $5,000 continues

Gold is giving back part of Friday’s sharp rebound, deflating below the key $5,000 mark per troy ounce as the new week gets underway. Modest gains in the US Dollar are keeping the metal in check, while thin trading conditions, due to the Presidents Day holiday in the US, are adding to the choppy and hesitant tone across markets.

AI Crypto Update: Bittensor eyes breakout as AI tokens falter

The artificial intelligence (AI) cryptocurrency segment is witnessing heightened volatility, with top tokens such as Near Protocol (NEAR) struggling to gain traction amid the persistent decline in January and February.

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.

XRP steadies in narrow range as fund inflows, futures interest rise

Ripple is trading in a narrow range between $1.45 (immediate support) and $1.50 (resistance) at the time of writing on Monday. The remittance token extended its recovery last week, peaking at $1.67 on Sunday from the weekly open at $1.43.