Posted at 10 March 2025 / Categories Market Roundups
Market Roundup
• Japan Coincident Indicator (MoM) (Jan) 0.1%,1.0% previous
• Japan Leading Index (MoM) (Jan) 0.1%,0.5% previous
• Japan Leading Index (Jan) 108.0,108.1 forecast, 107.9 previous
• Japan Economy Watchers Current Index (Feb) 45.6,48.5 forecast, 48.6 previous
Looking Ahead Economic Data(GMT)
•09:00 Italian PPI (YoY) (Jan) 1.1% previous
•09:00 Italian PPI (MoM) (Jan) 0.6% previous
• 09:30 EU Sentix Investor Confidence (Mar) -9.1 forecast, -12.7 previous
• 10:00 Greek CPI (YoY) (Feb) 2.7% previous
• 10:00 Greek HICP (YoY) (Feb) 3.1% previous
Looking Ahead Events And Other Releases(GMT)
• No Events Ahead
Currency Forecast
EUR/USD: The euro remained steady near a four-month high on Monday as investors were worried over an escalating global trade war and fresh signs of economic weakness. Data on Friday showed U.S. job growth picked up in February, but cracks are emerging in the once-resilient labour market amid a chaotic trade policy.Nonfarm payrolls increased by 151,000 jobs last month after rising by a downwardly revised 125,000 in January, the Labor Department's Bureau of Labor Statistics said . Fed Chair Jerome Powell said on Friday it remains to be seen if the Trump administration's tariff plans will prove to be inflationary, mapping out a checklist of things that could cause new import taxes to lead to more persistent price pressures. Immediate resistance can be seen at 1.0875 (Daily high), an upside break can trigger rise towards 1.0902(23.6%fib).On the downside, immediate support is seen at 1.0758(38.2%fib), a break below could take the pair towards 1.06449(50%fib).
GBP/USD: The British pound held steady on Monday as investors remained cautious amid global trade tension. In an interview on Sunday, Trump declined to predict whether the U.S. could face a recession amid stock market concerns about his tariff actions on Mexico, Canada and China.U.S. tariffs of 25% on imports of steel and aluminium will take effect on Wednesday and investors await the announcement of reciprocal tariffs in early April. A run of soft U.S. economic data continued on Friday after monthly figures showed the labour market created fewer jobs than expected in February, in the first payrolls report capturing Trump's policies. Sterling was little changed at $1.2917.The U.S. dollar index , which measures the currency against six major peers, added 0.1% to 103.82 Immediate resistance can be seen at 1.2955(23.6%fib), an upside break can trigger rise towards 1.2949(Higher BB).On the downside, immediate support is seen at 1.2860(38.2%fib), a break below could take the pair towards 1.768(50%fib)
AUD/USD: The Australian dollar edged higher on Monday as U.S. dollar weakened amid growing concerns over a slowing U.S. economy and escalating global trade tensions. Investors remain wary of tariffs, fearing they could weaken economic growth and fuel inflationary pressures.U.S. consumer inflation data, set for release on Wednesday, will be closely watched as it could impact market expectations for potential Federal Reserve rate cuts.Looking ahead, Australia will publish the Westpac consumer sentiment survey and business survey from the National Australia Bank on Tuesday. At GMT 08:35, The Australian dollar was last trading up 0.14% to $0.6312. Immediate resistance can be seen at 0.6358(50%fib), an upside break can trigger rise towards 0.6418(61.8%fib).On the downside, immediate support is seen at 0.6290(38.2%fib), a break below could take the pair towards 0.6222(23.6%fib).
USD/JPY: The dollar weakened against the yen on Monday as concerns over a global trade war investor lifted safe havens the yen . U.S. President Donald Trump in an interview on Sunday declined to predict whether the U.S. could face a recession amid stock market concerns about his tariff actions on Mexico, Canada and China over fentanyl.Tariffs have been a key concern for investors, with many believing that they can hurt economic growth and be inflationary.Investors now await the U.S. Consumer Price Index (CPI) data due on Wednesday and Producer Price Index (PPI) data expected on Thursday.Immediate resistance can be seen at 148.31(38.2%fib) an upside break can trigger rise towards 149.47(38.2%fib). On the downside, immediate support is seen at 146.96(23.6%fib) a break below could take the pair towards 145.95(Lower BB).
Equities Recap
Asian stocks fell on Monday as building deflationary pressures in China added to growth worries from a lacklustre U.S. economy and an escalating global trade war.
China A50 was down 0.53% , South Korea's KOSPI was down 0.27 %,Hang Seng was down by 1.80 %,
Commodities Recap
Gold inched higher on Monday, supported by a weaker dollar and safe-haven flows amid fears of an escalating global trade war, while investors awaited further signals to gauge the Federal Reserve's interest rate stance.
Spot gold gained 0.1% to $2,914.00 an ounce as of 0701 GMT, while U.S. gold futures firmed 0.2% to$2,920.10.
Oil prices fell on Monday as concern about the impact of U.S. import tariffs on global economic growth and fuel demand, as well as rising output from OPEC+ producers, cooled investor appetite for riskier assets.
Brent crude fell 6 cents to $70.30 a barrel by 0720 GMT after settling up 90 cents on Friday. U.S. West Texas Intermediate crude was at $66.96 a barrel, down 8 cents after closing 68 cents higher in the previous trading session.