US: News from White House in focus – Danske Bank

FXStreet Team FXStreet

Senior Analyst, Jens Nærvig Pedersen at Danske Bank, suggests that there was a string of interesting news from the White House as according to Reuters, US President Trump is said to be close to nominating a person for the position of Fed Vice Chair and apparently Richard Clarida is out of the race for that position.

Key Quotes

“According to a Bloomberg story, US Treasury Secretary Steven Mnuchin has apparently asked congress to lift the debt ceiling before 28 February, which in turn would put a lid on any concerns in the market about a near-term US debt default.”

“Finally, the White House is apparently considering a targeted strike in North Korea as a reaction to a missile test in order to illustrate that the high price the nation could pay for nuclear progress would be feasible according to WSJ. The market did not react to the news, but it serves as a reminder of the geopolitical risks looming in the background.”

Author

FXStreet Team

FXStreet

EUR/USD clings to gains around 1.1800

EUR/USD manages to regain composure and retests the 1.1800 region in quite a positive start to the week. The pair’s bounce follows the US Dollar’s offered stance post-SCOTUS ruling ahead of important US data and Fedspeak on Tuesday.

GBP/USD looks stuck around 1.3500 amid firm gains

GBP/USD is pushing further north on Monday, revisiting the 1.3500 hurdle and beyond. Cable’s uptick is largely being fuelled by the broader softness in the Greenback, amid lingering uncertainty around tariffs.

Gold pops above $5,200, four-week highs

Gold is holding onto its bullish tone on Monday, reaching new multi-week highs just past the $5,200 mark per troy ounce. Fresh trade-war concerns, coupled with rising geopolitical tensions in the Middle East, are keeping demand for the yellow metal well on the rise.

Ethereum Price Forecast: BitMine's holdings reach 4.42 million ETH as Fundstrat predicts 87% win-ratio

Ethereum (ETH) treasury firm BitMine Immersion Technologies (BMNR) scooped up 51,162 ETH last week, marking its largest purchase since December.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

XRP recovers slightly as bearish sentiment dominates crypto market

Ripple is rising above $1.40 at the time of writing on Monday amid fresh tariff-triggered headwinds in the broader cryptocurrency market. The sell-off to $1.33, the token’s intraday low, can be attributed to macroeconomic uncertainty, geopolitical tensions and risk-averse sentiment among other factors.