The financial market remains fairly stable as European trading kicks off on February 17, 2025. However, significant movement may occur later during tonight’s trading session.<\/p>\n
GOLD<\/strong> This increase in risk appetite<\/em> has arisen following announcements that President Donald Trump’s reciprocal<\/em> policies will not be implemented in the near future, thereby decreasing the risk of a larger trade war.<\/p>\n Moreover, peace talks between Russia and Ukraine, initiated by the United States, are rumored to commence soon. Should further details arise regarding the start of these negotiations, it could turn negative for Gold. Given its current high position, there is a possibility for Gold to face profit-taking<\/em> activities.<\/p>\n OIL<\/strong> The oil market may still face headwinds as the chances of the Russia-Ukraine conflict drawing to a close become more evident. If this occurs, Russian oil supplies could flood the market, leading to negative sentiment.<\/p>\n EURUSD<\/strong> The reduced risk of a larger trade war, along with the prospect of the Russia-Ukraine war ending, has diminished the appeal of the US dollar, contributing positively to the EURUSD movement.<\/p>\n This sentiment is likely to continue influencing EURUSD trading tonight.<\/p>\n GBPUSD<\/strong> In addition to the pressures faced by the US dollar, GBPUSD is also receiving positive sentiment from the release of UK’s economic growth data, with Gross Domestic Product<\/em> (GDP) exceeding expectations in the fourth quarter of 2024.<\/p>\n This GDP data implies that the Bank of England (BoE) may be unlikely to cut interest rates further in the near term. This ongoing positive sentiment will continue to affect GBPUSD movement in tonight’s trading session.<\/p>\n USDJPY<\/strong> This steep decline is attributed to the pressures on the US dollar, while the yen has strengthened significantly following the release of Japan’s GDP data.<\/p>\n Japan’s GDP for the fourth quarter of 2024 is reported to have grown at an annualized rate of 2.8%, surpassing the forecast<\/em> by Trading Central of 2.1% and previous month’s growth of 1.2%.<\/p>\n This release paves the way for the Bank of Japan (BoJ) to potentially raise interest rates soon, resulting in a stronger yen. This means that USDJPY may continue to face negative sentiment in trading this evening.<\/p>\n Nasdaq<\/strong> This positive sentiment may further intensify if definitive news emerges regarding the timing of the Russia-Ukraine peace talks. This could present a chance for the Nasdaq to reset its all-time high once again.<\/p>\n The financial market remains fairly stable as European trading kicks off on February 17, 2025. However, significant movement may occur later during tonight’s trading session. GOLDThe price of Gold (XAUUSD) has managed to maintain its gains at the start of the European session, hovering around the daily peak of $2,906.35 per troy ounce. Nevertheless, the […]<\/p>\n","protected":false},"author":4,"featured_media":21041,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5170,142],"tags":[5175,5174,5176,5178,5177,5168],"class_list":["post-40948","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-summary","category-news","tag-cls10","tag-eurusd","tag-gbpusd","tag-nq","tag-usdjpy","tag-xauusd"],"yoast_head":"\n
The price of Gold (XAUUSD) has managed to maintain its gains at the start of the European session, hovering around the daily peak of $2,906.35 per troy ounce. Nevertheless, the price of Gold might experience downward pressure again due to potential profit-taking<\/em> sentiments, as investors are currently displaying a strong risk appetite<\/em>.<\/p>\n
Oil prices (CLS10) have rebounded to $71.20 per barrel after falling to $70.12 per barrel earlier this morning. This marks the lowest level seen in the last six weeks, which likely prompted a short covering<\/em> rally, pushing prices up.<\/p>\n
The EURUSD currency pair is exhibiting volatility within the range of 1.04710 – 1.05065 at the beginning of the European trading session after recording four consecutive days of increases.<\/p>\n
The GBPUSD pair has seen little change at the beginning of the European session, trading within the range of 1.25781 – 1.26043, close to its highest level in the last two months following a significant rise last week.<\/p>\n
USDJPY is holding near the daily low of 151.473 at the start of the European trading session. In comparison to the close of trading last Friday, USDJPY has dropped over 800 points (80 pips).<\/p>\n
The Nasdaq index is near its all-time high of 22,280 as European trading commences. As mentioned earlier, the current risk appetite<\/em> among market participants is elevated, leading to increased investment in the stock market, which is seen as positive for the Nasdaq.<\/p>\n