Wall Street mixed in dull start to the week

Crude oil prices rallied as the US administration announced the end of waivers on Iranian oil.
US indexes held within familiar ranges as investors wait for earnings reports.

FXStreet Team FXStreet

US indexes opened with a soft tone but closed the day mixed with the DJIA trimming half of its intraday losses and settling at 26,512, down by 47 points. The Nasdaq Composite gained 0.22% and settled at 8,015, while the S&P added 3 points to finish the day at 2,907. Boeing led the Dow lower by shedding 1.29%, following headlines indicating that the company ignored workers’ concerns over its production quality of 787 jets.

Firmer crude oil prices underpinned the S&P and the Nasdaq, after the Trump's administration announced that they wouldn't renew Iran oil waivers, intending to bring Iran's oil exports to zero, denying the regime its principal source of revenue, spurring concerns about a supply shortage.

Market players are eyeing big names' earnings report later this week.

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FXStreet Team

FXStreet

EUR/USD recedes to daily lows near 1.1850

EUR/USD keeps its bearish momentum well in place, slipping back to the area of 1.1850 to hit daily lows on Monday. The pair’s continuation of the leg lower comes amid decent gains in the US Dollar in a context of scarce volatility and thin trade conditions due to the inactivity in the US markets.

GBP/USD resumes the downtrend, back to the low-1.3600s

GBP/USD rapidly leaves behind Friday’s decent advance, refocusing on the downside and retreating to the 1.3630 region at the beginning of the week. In the meantime, the British Pound is expected to remain under the microscope ahead of the release of the key UK labour market report on Tuesday.

Gold looks inconclusive around $5,000

Gold partially fades Friday’s strong recovery, orbiting around the key $5,000 region per troy ounce in a context of humble gains in the Greenback on Monday. Additing to the vacillating mood, trade conditions remain thin amid the observance of the Presidents Day holiday in the US.

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.

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.