- Another round of talks between Ukraine and Russia
- Further lockdown in China
- US stocks trade mixed
European indices finished today's trading mostly higher, with Germany’s DAX up more than 1% amid hopes of some progress in Russia-Ukraine ceasefire talks, after President Zelenskiy said Ukraine was prepared to discuss adopting a neutral status as part of a peace deal. Negotiations were expected to begin today in Turkey but Russia said that it is more likely they will start tomorrow. Automakers and chemical sectors recorded solid gains while oil and gas companies were top laggards. Investors remained cautious as a rising number of new covid cases in Shanghai fueled fears of a slowdown in China and negatively impacted oil prices.
Mixed moods prevail on Wall Street Still, as investors brace themselves for a busy week packed with economic data, meanwhile reassessing the outlook of tightening monetary policy, higher inflation and developments in the Russia-Ukraine war. On the corporate side, Tesla stock rose nearly 8% after the electric car maker plans to seek shareholders’ approval for another stock split. Meanwhile Apple may be forced to lower production of iPhone and AirPod output due to lower demand caused by inflation.
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Create account Try a demo Download mobile app Download mobile appThe US dollar strengthened during today's session, especially against JPY (around 1%) and NZD (0.85%) and slightly (0.15%) weakened only against the EUR. We also observed significant volatility on USDCAD, which was related to the fluctuations in the crude oil market. The price of WTI briefly fell below $ 105 a barrel, which is significantly lower compared to Friday's close at $ 110 level. Gold also started a new week with a sell-off, however bulls found support around $ 1927. Currently, the price is hovering around $1938, approximately 1% below Friday's close. Cryptocurrencies extended last week's rally on Monday. Bitcoin broke above $47,500 while Ethereum approaches $3500 level. Upward move was fueled by massive short liquidations on crypto exchanges which was accompanied by rising volume.
When looking technically at the OIL.WTI chart for the H1 interval, one can notice a local head-to-shoulder formation that usually heralds declines. Price broke below the neckline, however sell-off slowed down around $ 104.40. Source: xStation5
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