As has been the case all week, Bitcoin and gold continue to be the ones to hog the spotlight. So far today, Bitcoin is up nearly 5% now to $66,400 in
As has been the case all week, Bitcoin and gold continue to be the ones to hog the spotlight. So far today, Bitcoin is up nearly 5% now to $66,400 in a stirring rebound after its overnight plunge. The low touched $59,225 but one can argue that buyers are showing up amid a test of the $60,000 mark.
Meanwhile, gold is consolidating its gains so far after a surge to above $2,100 earlier this week. The bids tend to come in during US trading and so we might have to wait for that once again today.
Looking at traditional markets, FX is surprisingly stale despite a break lower in Treasury yields. 10-year yields have fallen past 4.20% and now even broken under its 200-day moving average of 4.176%. Still, that has failed to get the dollar moving and even USD/JPY is still largely confined within its technical box here.
Perhaps we have to wait on the US jobs data to really get the ball rolling on that front. Coming up later today, there is the ADP employment report to work with at least. But in Europe, it will be a slow one with a lack of any major releases of note.
0700 GMT – Germany January trade balance data
0830 GMT – Germany February construction PMI
0930 GMT – UK February construction PMI
1000 GMT – Eurozone January retail sales
1200 GMT – US MBA mortgage applications w.e. 1 March
That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.
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