Quiet Tone Prevails in the European FX Market During US Holiday
Monday, 19 February 2024, 12:30
Headlines:
- Long weekend in the US casts a shadow over markets to start the week
- Major currencies feeling rather uninspired so far today
- Gold sticks to last week's bounce in search of third straight day of gains
- Bundesbank says Germany is likely in recession now
- von der Leyen wins German backing for second term as European Commission president
- SNB total sight deposits w.e. 16 February CHF 477.1 bn vs CHF 482.3 bn prior
Markets:
- NZD leads, USD lags on the day
- European equities lower
- Gold up 0.2% to $2,018.24
- WTI crude down 0.2% to $78.27
- Bitcoin up 0.5% to $52,340
In a session characterized by muted activity, major currencies traded sideways within tight ranges. The dollar saw minor weakness, and notable pairs like USD/JPY and EUR/USD remained largely unchanged. Despite this, the kiwi managed a slight gain but faced resistance levels. European stocks mirrored the US decline, while gold hoped to sustain its recent recovery.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.