investingLive European markets wrap: Dollar steadies alongside risk mood, gold jumps | investingLive

Headlines:

Markets:

AUD leads, JPY lags on the day
European equities higher; S&P 500 futures up 1.0%
Gold up 1.5% to $4,078.43
WTI crude oil up 3.0% to $59.98
Bitcoin down 0.8% to $114,137

There weren’t much meaningful headlines on the session as Trump is in Tel Aviv to mark his victory lap on the Gaza peace agreement. And that means he will be distracted from stirring up trade issues with China, at least for the time being.

He tried to cool down the rhetoric with Beijing at the end of the weekend and that’s feeding into some optimism that the latest tariffs threat will eventually result in another TACO scenario.

That is helping risk trades bounce back with the dollar also returning to favour a little on the day. USD/JPY is seen trading back up to above 152.00 but off earlier highs of 152.45 earlier in the session. Meanwhile, EUR/USD is down 0.3% to 1.1582 while USD/CHF is up 0.5% to 0.8033 currently.

In the major currencies space, the aussie is the lead gainer after slumping hard on Friday amid the US-China commotion. AUD/USD is trading with a gap up by 0.6% today to 0.6511, falling short of breaching its 100-day moving average of 0.6531 earlier.

In other markets, equities are seen bouncing back a little and posting a modest bounce after the sharp selloff on Friday. European indices are holding slight gains, with some of the optimism being slowly chipped away during the session. And even though it is a US holiday, the stock market will stay open in the day ahead. US futures are sitting higher but also off earlier highs, with S&P 500 futures seen up 1.0% currently after a modest opening gap up.

As for commodities, it’s a brand new week but same old story. Gold is once again shining as it jumps up to a fresh record high in eclipsing the highs last week around $4,060. The precious metal is trading up by 1.5% to $4,078 now as the hot streak continues. Likewise, silver is also seen up over 2% in hunting for a firm break above $51.

And we also have oil prices bouncing back strongly amid the better risk appetite today, with WTI crude oil recovering around 3% to near $60.