Welcome to a new trading week. The macro calendar is completely empty today, and on top of that we are entering the Chinese New Year period, which typically reduces liquidity and participation across Asian markets. Adding to the thin conditions, both Canadian and US markets are closed, which further limits activity. For meaningful macro catalysts, we will have to wait until tomorrow.
Equity indices are opening slightly on the green side. The move higher is modest and lacks strong momentum. It looks more like stabilization than a genuine risk-on impulse. Markets are still digesting the drop that took place at the end of January, and today’s gains do not yet change that broader context.
On the currency market, antipodean currencies are showing strength. At the same time, the Japanese yen is clearly weaker. The euro and the British pound are also firm, alongside the Canadian and US dollars. The moves are noticeable but not aggressive, which is consistent with low-liquidity conditions.
Commodities are leaning negative. Most of the complex is flashing red, although the declines are not particularly large. Oil is drifting lower, and metals are also under mild pressure. So far, this looks like a continuation of recent softness rather than a fresh wave of selling.
Cryptocurrencies are stabilizing. After the sharp sell-off at the end of January and the beginning of February, the market is now moving sideways. Volatility has compressed, and price action suggests consolidation rather than continuation, at least for the moment.
Overall, this is a quiet start to the week. With no major data releases and key markets closed, price action is subdued. For stronger directional moves and more meaningful opportunities, traders will likely need to wait for liquidity to return and for fresh macro drivers to appear.