Headlines:
- Long weekend in the US casts a shadow over markets to start the week
- Major currencies feeling rather uninspired so far today
- Gold sticks to last week's bounce in search of third straight day of gains
- Bundesbank says Germany is likely in recession now
- von der Leyen wins German backing for second term as European Commission president
- SNB total sight deposits w.e. 16 February CHF 477.1 bn vs CHF 482.3 bn prior
Markets:
- NZD leads, USD lags on the day
- European equities lower
- Gold up 0.2% to $2,018.24
- WTI crude down 0.2% to $78.27
- Bitcoin up 0.5% to $52,340
It was a very quiet session in Europe and unsurprisingly so. US markets are closed today in observance of Presidents' Day, so it is essentially a long weekend of sorts for broader markets as well. That is not to mention a lack of key economic releases today.
As such, major currencies traded sideways in narrow ranges. The dollar is marginally lower but there isn't anything to really highlight on the session.
USD/JPY continues to dance around the 150.00 mark while EUR/USD is flattish around 1.0775 on the day. The kiwi is slightly higher but NZD/USD is still sitting under key daily resistance around 0.6150-73 currently.
In other markets, European stocks are a touch lower following the drop in Wall Street on Friday. Meanwhile, gold is up a little to $2,018 and hoping to continue its bounce from last week.
