Forex Today: Slow start to the week
|What you need to take care of on Tuesday, February 21:
The week started in slow motion amid the United States celebrating President’s Day. The absence of relevant macroeconomic releases helped majors to trade within tight intraday ranges.
In the meantime, the market sentiment is sour. Tensions between the United States and China over the balloons shots earlier this month continue as US top diplomat Anthony Blinken said Beijing's actions were irresponsible, while Chinese officials responded US reaction was "hysterical." Meanwhile, North Korea fired an intercontinental ballistic missile on Saturday that landed in the Sea of Japan. Finally, US President Joe Biden unexpectedly visited Kyiv to announce additional weapons supplies.
EUR/USD trades around 1.0680, limited by softer-than-anticipated EU data. GBP/USD hovers around 1.2040, unchanged for the day.
Commodity-linked currencies advanced vs their American rival. AUD/USD trades around 0.6910, while USD/CAD is down to 1.3450. The USD/JPY pair is ending the day unchanged at 134.20.
Crude oil prices posted a modest intraday advance, with WTI currently trading at $77.70 a barrel. Gold peaked at $1,847.45, but finished the day around $1,841.
On Tuesday, the focus will be on the preliminary estimates of the February S&P Global PMIs for major economies.
FTT explodes by nearly 28% following FTX Japan's announcement of crypto withdrawal resumption
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.