Daily summary: Low market volatility at the start of the new week

• Good sentiment on the stock market in Europe
• Low volatility on the forex market
• JPY lost the most to USD, while CAD strengthened
• Gold and oil near Friday's closes
• Declines on most cryptocurrencies
• Cardano continues to rise

Monday's session did not bring much excitement to the financial market. On the one hand, Mondays are statistically characterized by lower volatility, and on the other hand - today in the US there was no trading due to the holiday, which also translated into smaller movements. 

Although the mood on the Asian stock market was mixed, the vast majority of Europe's main indices managed to end today's session higher. The Austrian ATX gained as much as 1.68%, the London FTSE100 added 0.91% and the German DAX closed 0.32% higher. In turn, indices from Russia, the Netherlands and Poland lagged behind.

Changes in the forex market were moderate today. Looking at the major currencies, the most noteworthy were the Canadian dollar, which managed to gain around 0.3% to the USD, and the Japanese yen, which lost 0.4%. The other currencies are trading rather in the region of the benchmark against the US dollar. 

Gold quotations have not fluctuated much today, with investors awaiting the Fed's decision on interest rate hikes (Wednesday, 26 January, 19:00 GMT). However, as reported by Commerzbank, investors are likely to be more cautious about possible bullion purchases ahead of the first interest rate hike, as evidenced by falling long positions on COMEX. There is still uncertainty in the black gold market about a potential conflict between Russia and Ukraine, but concerns about global oil supply are easing somewhat following increased production in Libya and China's agreement to release its strategic stockpiles in January/February 2022. 

The start of the week brings declines for most cryptocurrencies, and one of the few projects that saw larger gains today was Cardano. The cryptocurrency gained up to 10% today on the back of the launch of the Pavia project, focused on the metaverse in the Cardano network. As for the oldest of the cryptocurrencies, this one is currently falling below $42,000. Ethereum is also not doing well and at one point during the day it broke below the psychological $3,000 barrier. The total crypto market capitalization at the moment is $2.01 trillion.

Bitcoin is not doing well today. Looking at the H4 interval, we see a renewed attack on the key horizontal zone at $42,000. This level was a support on January 14, however, despite the rebound, the price did not manage to go above the average of the last 100 periods - blue line on the chart. If the previously mentioned support at $42,000 is broken, the declines may become stronger. Source: xStation 5