- The European session was mostly positive, despite a weak opening on Wall Street. The British FTSE closed the session slightly higher, the German DAX flat, and the French CAC40 fell by almost 0.5%
- The sentiment on the US stock market is weak, with the US500 remaining below 6,000 points. However, futures are trying to recover in the evening, with the VIX volatility index falling by more than 5% from its daily highs. The US100 is the weakest performer, losing 1.4%.
- US 10-year bond yields are down by almost 9 basis points, with the US dollar losing; the USDIDX is down almost 0.4%, and the EURUSD is up 0.4%.
- As reported by the Financial Times, Kyiv has agreed with Washington on the detailed terms of a commodity deal that Ukrainian officials hope will improve relations with the Trump administration and pave the way for long-term US involvement in Ukraine's national security.
- US CB Consumer Confidence for February: 98.3 vs. 102.5 forecasts and 104.1. The Consumer Board's annual inflation expectations rose from 5.2% to 6% in February, likely due to the expected impact of tariffs on the US economy and higher prices for basic goods. The monthly decline in CB sentiment in February was the largest since November 2021.
- The Canadian dollar and the New Zealand dollar are currently the weakest on the broad FX market. On the other hand, the Swiss franc and the Japanese yen are performing better.
- Gold is down more than 1.5% today, largely due to profit-taking after the strong gains seen in recent weeks. At the same time, US bonds are gaining value, showing that the market is no longer concerned about too much pressure to maintain the Fed's hawkish policy. Higher inflation expectations were balanced by a decline in consumer sentiment and uncertainty about the state of the US economy.
- WTI crude oil is also doing very poorly, currently down nearly 2.9%. One of the key factors driving the sell-off is concern about the growth of global oil production, while uncertainty about the condition of the global US economy is growing. Iraq also announced on Saturday that the country is preparing to end the period of sanctions on oil exports, which could increase global production by 185,000 barrels per day.
- Bitcoin is losing another 5.75% to $87,000, extending the declines from the end of yesterday. The declines are occurring without a clear catalyst and are probably the result of several factors, including breaking through the important support level ‘on-chain’, i.e. the average purchase of BTC by short-term addresses, which is around $92,500
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
