This is what you need to know to trade today Monday, February 1:
Markets have seen a choppy Asian session on the first day of February, and the Wall Street retail frenzy of the past week has weighed on early trading sentiment. Investors have since witnessed a major shift in market sentiment as risk has rebounded underpinned by renewed hopes for US stimulus and optimism over the vaccine.
Republican Sen. Susan Collins said in a tweet that the President Joe Bidden will meet with 10 Republican senators on Monday at 22:00 GMT to discuss a stimulus package worth $ 600 million., as proposed by them.
Meanwhile, the easing of covid vaccine-related tensions between the EU and the UK also buoyed the markets. The President of the EU Commission, Ursula Von der Leyen said on Sunday that AstraZeneca will begin deliveries of its COVID-19 vaccines a week earlier than expected..
Silver rises almost 5% to hit five-and-a-half-month highs at $ 29.01 after a weekend of a wave of retail buying. Retail websites such as Money Metals, SD Bullion, JM Bullion, and Apmex noticed unprecedented demand for silver bullion and coins in a sign of the recent Reddit-powered short squeeze that has spread to the physical market.
The oro has followed the rise of silver, rising 1% around $ 1,860. Optimism about the US stimulus package also boosted gold prices. Oil prices posted small gains, with the WTI hovering around $ 52.50.
Regarding currencies, the EUR/USD remains sideways above 1.2100 ahead of final Eurozone Manufacturing PMI reports. The GBP/USD it has moved higher to briefly regain the 1.3750 region.
The AUD/USD it has advanced to 0.7650, benefiting from a bounce in S&P 500 futures. The Australian dollar has ignored a five-day lockdown announced in Perth, Australia.
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