- Calm session on the Forex market
- European stocks hold near record highs
- Wall Street struggles to gain traction
- Increased volatility in the cryptocurrency market
The volatility during today's session was rather low. No key releases were scheduled for Tuesday, therefore there was no catalyst that would lead to bigger moves. Investors are probably waiting for Thursday's session, when we will get the US inflation data and the ECB's decision regarding the current monetary policy. The main stock indices in Europe consolidated near their all-time highs. The US indices are also trading in a sideways move today.
In contrast, precious metals are trading in red. Gold prices tried to stay above the $ 1,900 level, but the sellers regained control and the price dropped to $1,890 an ounce. Silver has dropped almost 1%, while platinum and palladium are also losing ground. In turn, the crude oil market is dominated by buyers, WTI is gaining 0.6%, and Brent rose almost 0.8%.
While little has happened in traditional markets today, we can observe increased volatility on the digital currency market. Cryptocurrencies have come under pressure from sellers today. Bitcoin is trading 6.5% lower and Ethereum is losing more than 8%. Ripple and Litecoin also fell over 6%.
Forex volatility remains low. The US currency is trying to erase yesterday's losses. USD gains less than 0.3% against CAD and 0.25% to AUD and JPY. The British pound lost 0.2% and the EUR fell 0.12%. The New Zealand dollar (NZD) is the weakest among the major currencies. The NZDUSD currency pair failed to uphold yesterday's upward move. The price bounced off the downtrend line. Nevertheless, it should be noted that in the broader perspective, the pair continues to trade sideways between the support zone at 0.7150 and the resistance zone at 0.7310.
NZDUSD interval H4. Source: xStation5