Global markets opened the week with a cautious tone as major asset classes showed mixed performances in early trading. Bitcoin hovered just above $83,000, recording a decline of about 0.5%, while gold traded around $4,180 per ounce, also down 0.5%.
U.S. dollar and bond yields hold firm
The U.S. dollar maintained its strength, with the DXY index remaining above 102.4, reflecting steady demand for safe-haven assets. U.S. government bond yields inched higher, signaling weaker bond prices after a brief rebound late last week. The iShares 20+ Year Treasury Bond ETF (TLT) had gained over 2% during that recovery period.
Meanwhile, West Texas Intermediate (WTI) crude oil traded above $92 per barrel, continuing its upward movement despite broader market caution. In contrast, futures in the technology sector edged lower, highlighting investor uncertainty ahead of significant economic data releases.
Investors eye US inflation report
Market attention has turned to Wednesday’s U.S. inflation report, which is anticipated to play a key role in shaping risk sentiment. Economists expect annual core inflation to reach 2.5%, while headline inflation is forecast at 3.7%. Such figures would indicate an acceleration from the previous month and potentially impact central bank policy discussions.
Markets focus on this week’s U.S. inflation release, with a potential rise to 3.7% forecast for headline inflation and 2.5% for core inflation.
IREN secures AI infrastructure deal
IREN, a technology company that previously operated in bitcoin mining but has since shifted its focus to artificial intelligence infrastructure, announced a new multiyear cloud services agreement with Anthropic, an AI firm. Shares of IREN rose by 4% during pre-market trading following the news of the partnership.
Mini dictionary: Anthropic is an artificial intelligence research firm specializing in the development of large language models and AI safety solutions.
The agreement marks a significant step for IREN as it continues to diversify away from its original cryptocurrency mining business into the growing field of AI-related services.
