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investingLive European markets wrap: Risk bounce holds, dollar mixed to start the week | investingLive

Headlines:

Markets:

  • EUR leads, JPY lags on the day
  • European equities mixed; S&P 500 futures up 0.5%
  • US 10-year yields down 1.9 bps to 4.044%
  • Gold up 0.4% to $4,083.16
  • WTI crude oil down 0.1% to $58.03
  • Bitcoin down 1.0% to $85,912

The session was a relatively quiet one to start the new week as market players are waiting to see if there will be any follow up to the late rebound in Wall Street from Friday. The good news is that the positive mood is holding up somewhat, though there were some nerves as US futures cut gains to nearly flat levels at one point in the past two hours.

All eyes are still on the risk mood, with questions surrounding the AI bubble and valuations especially after the recent happenings last week that saw Nvidia earnings beat (but not without some caveats here) and the release of Google’s Gemini 3 model.

For now though, things are keeping calmer but it’s still early in the week with month-end also set to approach soon enough. And as a reminder, it will be a holiday-shortened week amid the Thanksgiving holidays.

In FX, there wasn’t much notable action with only the euro picking up a little to start the week. EUR/USD moved up from 1.1510 to 1.1550 while the Japanese yen continues to struggle with USD/JPY nudging up by 0.3% to 156.80 on the day. Besides that, the price action among other major currencies is leaving a lot to be desired.

And so, the spotlight continues to stay in the equities space with S&P 500 futures having earlier raced up to post gains of 0.7%. That was pared all the way back to 0.1% but futures are now keeping up by around 34 points, or 0.5%, on the day. So, there’s some pushing and pulling but the final vote once again will go to Wall Street.

Elsewhere, gold an silver are also seen nudging a little with the former now tracking back up to $4,083 while the latter is pushing back above $50 to $50.26 currently. A modest start after the setback suffered towards the end of last week.

And in one of the more interesting spots, Bitcoin is also looking a little heavy but at least continuing to survive the scare from the end of last week and through the weekend in keeping above the $80,000 mark. That being said, the coast isn’t clear yet as the downside focus is turning up again as we look to get things going in the new week.