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Dollar and Bitcoin rebound, Euro slips
Markets in flux ahead of key data this week
USD edged higher; AUD and NZD strengthened on China's policy plans; EUR steady near 1.0547 ahead of ECB; CAD hit a 4.5-year low on rate cut expectations.
Bitcoin rebounded from $92K lows to close near $97K after volatile trading.
U.S. indices fell; Nasdaq 100 dropped 0.8%, led by Nvidia's 2.5% decline.
Currencies
The U.S. dollar edged higher in cautious trading today as market participants awaited key U.S. inflation data due later this week.
The Australian and New Zealand dollars strengthened following China’s announcement of plans for an “appropriately loose” monetary policy in 2025.
The euro continued to trade in a tight range near 1.0547 ahead of Thursdays ECB meeting that’s widely expected to cut interest rates each meeting till June.
The Canadian dollar hovered near a 4.5-year low amid growing expectations of another significant interest rate cut by the Bank of Canada.
Cryptocurrencies
Bitcoin experienced a volatile session, initially trading lower during the U.S. risk-off mood but recovering from session lows of $92,000 to close near $97,000.
Commodities
Oil prices gained, supported by China's proposed economic measures and escalating geopolitical tensions in the Middle East following reports of Syrian fighters removing the Assad regime.
Gold rose to $2662 bolstered by the People’s Bank of China adding to its gold reserves for the first time in seven months and as investors waited for tomorrows CPI data.
Stocks
Major indices closed lower, with the Nasdaq 100 falling 0.8%, weighed down by weakness in semiconductor stocks. Nvidia declined 2.5% after China launched an investigation into potential anti-monopoly violations related to a 2020 transaction.
