Headway Daily Analysis | Close & Pre-Asia (19/02)

Wall Street:The S&P 500 fell around -0.5%, the Dow Jones also declined, breaking its three-day winning streak, while the Nasdaq closed slightly lower, pressured by profit-taking in tech stocks after strong prior gains. The pullback was driven by a stronger dollar, “higher for longer” rate expectations, and renewed Middle East headlines involving Iran, which lifted oil prices. Europe also closed slightly in the red, following the US correction. In the previous session, Asia showed mixed performance, with Hong Kong slightly higher and other markets more cautious.

FX Market:The dollar gained further traction, with the DXY rising (+0.2% on the day), keeping the greenback elevated and extending gains after the FOMC minutes. The “higher for longer” interest rate narrative continues to support a short-term bullish bias for the USD.

Commodities:Gold remained pressured by dollar strength, trading around $4,900 and still below the $5,000 zone, reflecting a more selective approach toward safe-haven assets. Silver remains volatile and well below recent highs. Brent crude surged on renewed US–Iran tensions, reportedly hitting its highest level in about six months, reinforcing the geopolitical risk premium in energy markets.

Bitcoin:BTC closed around $67k after fluctuating between $65k and $67k, posting a modest gain of about +0.9% compared to the previous day. The move remains consolidative, as the asset attempts to stabilize after the recent correction, but still trades well below January highs near $90k.

PRE-ASIA (Tonight)Bias: Neutral to slightly negative.

Asian futures suggest a more cautious open following the correction on Wall Street and higher oil prices amid geopolitical tensions. Global indices remain near highs, but a strong dollar, commodity adjustments, and the high-rate environment point to a consolidative or slightly negative Asian session. Japan, Hong Kong, and other regional markets are likely to adopt a more defensive tone in the short term.

Have a great session, everyone. Stay disciplined.

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