Swissquote Bank Ltd has prepared a comprehensive report that sheds light on the current economic landscape, offering insights intended solely for informational purposes. This report does not serve as a solicitation or an offer to engage in the buying or selling of any currency or financial instrument. The views articulated within the document are subject to change without prior notice and may not necessarily align with those of Swissquote Bank Ltd personnel.
Yesterday marked a tumultuous session for U.S. stocks, with major indices experiencing notable declines. Among these, Roundhill's Magnificent 7 ETF suffered a drop exceeding 2%, reflecting broader market unease. Tesla faced a significant setback, plunging more than 8% following a reported 45% decline in European sales for January. Meanwhile, the U.S. Dollar is on the rise, exerting pressure on currency pairs.
On the cryptocurrency front, MKR is showing promising trends with bullish on-chain metrics. The increase in daily active addresses, revenue collection, and trading volume signifies potential growth for this digital asset.
In Europe, inflation appears to have eased in February, particularly within France. A reduction in regulated electricity prices contributed to this trend, although disinflation is becoming more widespread. Nonetheless, prices in the service sector across the Eurozone continue to climb rapidly.
Traders are adopting a cautious stance amid concerns over tariffs imposed by former President Trump and in anticipation of Nvidia's upcoming earnings report. These factors are contributing to an atmosphere of uncertainty within financial markets.