Fundamental

Bitcoin has been extraordinarily negative during February, as traders cannot find a reason to push the market higher. In fact, narrative after narrative has been wiped out.

EUR/USD staged a rebound after opening with a bearish gap but turned south again, pressured by the risk-averse market atmosphere. The pair stays under pressure in the European session on Monday and trades slightly above 1.1700.

The USD/ZAR exchange rate rose on Monday morning as financial markets opened following the weekend developments in Iran and the Middle East in general. The pair was trading at 16.9, up from the year-to-date low of 15.6.

The USD/CAD pair attracts some buyers at the start of a new week/month and reverses a major part of Friday’s slide to a nearly two-week low.

The AUD/USD exchange rate was highly volatile on Monday morning as market participants reacted to the ongoing developments in the Middle East, where the war between Iran and the US and Iran escalated. The pair was trading at 0.7050.

Gold is taking a breather after the initial run to over one-month highs near $5,400, kicking off the new week with a bang.