Mortgage applications in the United States decreased by 1.2% on February 21, compared to a larger drop of 6.6% previously. This decline follows ongoing trends in the mortgage market.

In currency trading, the AUD/USD pair is facing resistance around the 0.6300 mark, while the EUR/USD pair struggled to breach the 1.0500 level. Gold prices have risen past $2,900 per troy ounce due to a weakening US Dollar.

Inflation in France is predicted to drop, influenced by reduced electricity prices, though rapid price rises in services persist across the Eurozone. Bitcoin remains around $87,000 following significant market volatility.

A slight dip in mortgage applications by 1.2% shows a slower pullback than the steeper 6.6% decline seen earlier. It suggests that while demand may not yet be strong, the previous sharp drop could have been an outsized reaction. Longer-term buyers still seem hesitant, but the slower decline hints that conditions might be stabilising.

The Aussie dollar remains pressured under 0.6300, struggling to gain momentum. It has had trouble pushing past resistance, which suggests sellers are still in control. Meanwhile, the euro tested 1.0500 but could not break higher, with markets keeping a watchful eye on any shifts in US monetary policy. If traders continue rejecting these price levels, we may not see an immediate recovery.

Gold has surged beyond $2,900 per troy ounce as weakness in the dollar provided a tailwind. A rising gold price often signals persistent fears about inflation or wider economic risks. If strength in gold sustains in the coming days, it might reinforce concerns that investors are shifting to safer assets.

French inflation is expected to ease, partly helped by lower electricity costs. However, services across the broader Eurozone still experience price increases, which complicates the overall trend. The European Central Bank will likely pay close attention to whether these pockets of inflationary pressure continue.

Bitcoin has largely hovered around $87,000 despite the turbulence in recent sessions. Sharp fluctuations haven’t led to an extended move in either direction, keeping traders alert for the next opportunity. If price swings settle, volatility-focused strategies might need adjusting.