US Stocks Today: US holiday so go trade some FX!

European indices positive in light trading due to US Martin Luther King day holiday.
FTSE +0.4%, DAX +0.35, EuroStoxx50 +0.4%.

Ivan Brian FXStreet

European stocks bounced in early- afternoon trading as earlier worries over further lockdowns had weighed on stocks. Germany was said to be considering night-time curfews, in line with France, while the UK closed all travel corridors into the country. Travel and leisure related stocks understandably fell as a result.

The Bundesbank said the German economy risks a sizable setback if lockdown curbs are extended, Italian bond yields rose as the PM faces key votes in parliament and Carrefour (CA) fell nearly 6% after it ended takeover talks with Couche-Tard.

Oil stocks were lower on the back of lower oil prices. A stronger US dollar, the US recommitment to the Paris climate accord and continued talk of curfew and lockdowns weighed on oil prices.

China GDP gave some comfort to markets as GDP returned to growth with a sharp rebound from the pandemic with Q4 growth of 6.5% beating forecasts of 6.2%.

Stocks covered this week at FXStreet

BP Stock Price and News: Oil slips ahead of Biden inauguration, but there is room to rise

Signal Advance Inc (SIGL) Stock Price and Forecast: The WhatsApp (FB) killer, except it is not!

TRXC Stock Price: TransEnterix Inc extends its momentum as investors rally around its Senhance surgical system

BB Stock Price: BlackBerry Ltd soars on patent deal with Huawei

Alibaba (BABA) Stock Price Forecast: Gains 3% on IM electric sedan launch

Delta Air Lines (DAL) Stock Price and Forecast: Preparing for take-off

NIO Stock Price Forecast: Carmaker weathers comments calling for a correction, a sign of strength

Ideanomics Inc (IDEX) Stock Price and Forecast: Charging ahead with the sector

BNGO Stock Forecast: BioNano Genomics Inc eyes all-time highs after cancer-related progress

TTCF Stock Price: Tattooed Chef Inc readies for a breakout as new vegan options hit mainstream

PLTR Stock Price: Palantir Technologies Inc holding onto high ground after analyst boost

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to Premium Sign In

Author

Ivan Brian

FXStreet

Ivan Brian started his career with AIB Bank in corporate finance and then worked for seven years at Baxter. He started as a macro analyst before becoming Head of Research and then CFO.

EUR/USD weakens to four-week lows near 1.1750

EUR/USD’s selling pressure is gathering pace now, approaching the area of multi-week troughs in the mid-1.1700s on Thursday. The pair’s intense decline comes on the back of another day of solid gains in the US Dollar, particulalry exacerbated following firm prints from the weekly US labour market.

GBP/USD drops further, hovers around 1.3460

In line with the rest of its risk-linked peers, GBP/USD faces increasing selling pressure and recedes toward the 1.3460 region, or four-week lows, on Thursday. Cable’s persistent pullback comes in response to the continuation of the recovery in the Greenback amid a solid US data and a divided FOMC when it comes to the Fed’s rate path.

Gold clings to daily gains near $5,000

Gold struggles for direction and clings to its daily gains around the key $5,000 mark per troy ounce on Thursday. The precious metal sticks to the bid bias amid reignited geopolitical tensions in the Middle East and despite marked gains in the US Dollar and rising US Treasury yields across the curve.

Ripple slips toward $1.40 despite SG-FORGE tapping protocol for EUR CoinVertible

XRP extends its decline, nearing $1.40 support, as risk appetite fades in the broader market. SG-FORGE’s EUR CoinVertible launches on the XRP Ledger, leveraging the blockchain’s scalability, speed, security, and decentralization.

Hawkish Fed minutes and a market finding its footing

It was green across the board for US Stock market indexes at the close on Wednesday, with most S&P 500 names ending higher, adding 38 points (0.6%) to 6,881 overall. At the GICS sector level, energy led gains, followed by technology and consumer discretionary, while utilities and real estate posted the largest losses.

Injective token surges over 13% following the approval of the mainnet upgrade proposal

Injective price rallies over 13% on Thursday after the network confirmed the approval of its IIP-619 proposal. The green light for the mainnet upgrade has boosted traders’ sentiment, as the upgrade aims to scale Injective’s real-time Ethereum Virtual Machine architecture and enhance its capabilities to support next-generation payments.