Dollar flat, stocks marginally higher on Monday

US equities were slightly higher during the London session on Monday, while the EURUSD pair hasn’t moved anywhere and was glued to the 1.2070/80 zone. 

Earlier in the day, we found out that China’s economy grew 2.3% last year, after a 6.5% growth in the last quarter. However, most of the developed world doesn’t trust China’s official numbers anyway.

Other countries will most likely end up with negative year-on-year growth as the pandemic has hit them much harder. 

US traders are on holiday today to celebrate Martin Luther King day, therefore, most US markets will be closed, and liquidity will be minimal. 

Precious metals rose a bit and tried to correct Friday’s losses, but they are far from reaching any bullish momentum. 

Oil erased earlier losses, and the WTI benchmark rose above 52 USD. Copper was also stronger today. According to one correlation analysis, copper and oil should be the best performing assets in inflation times, while gold is not so much. 

Source: https://www.axiory.com/market-news/dollar-flat-stocks-marginally-higher-on-monday