What’s Driving Markets This Week: Tariffs, Iran Talks, and Nvidia Earnings report - 2.23

U.S. dollar is weakening and losing its safe haven status.

• EURUSD: Around 1.1820 and rising with the weaker dollar. Main resistance is near 1.1900.
• GBPUSD: About 1.3340, supported by the hawkish stance of the Bank of England - keeping interest rates high.
• USDJPY: Falling toward 145.50 as traders move from the dollar into the yen while U.S. Treasury yields decline.
• AUDUSD: Holding near 0.7020 and following commodity prices. Any Chinese economic stimulus could push it higher.

Markets are mostly moving sideways as investors rotate from growth stocks into value sectors like banks and energy.

• ASX 200: 9,086 - banking strength is balancing weakness in mining stocks.
• Dow Jones: Recovering to 44,150 and less affected by tech swings.
• Nasdaq: Near 20,100 and unlikely to move much before Nvidia’s earnings.
• Nikkei: Around 38,400, pressured by the stronger yen, which hurts exporters.
• S&P 500: About 6,020 with strong support near 6,000.

Brent crude (70.56): Slowly declining on hopes of a Middle East diplomatic solution. WTI crude (65.85): Supply is higher than demand; the next support level is around 63.50.

Bitcoin dropped 5% this morning to its lowest level since last June. The $65,000 support level has broken; if it does not recover today, $60,000 may be next. Ethereum is also down more than 5% and struggling to attract buyers as money shifts into safer assets such as gold.