EURUSD
- EUR/USD Price: EUR/USD remains steady above 1.0850 in Tuesday’s European session, supported by broad-based weakness in the US Dollar.
- Tariff Plans: The White House is working to impose significant tariffs on key trading partners to offset revenue shortfalls linked to Trump’s proposed tax cuts, which could weigh on the USD.
- German Debt Brake Reform: The euro remains buoyant as markets anticipate progress on Germany’s debt brake reform, providing underlying support and limiting downside pressure on the pair.
- ECB Commentary: Olli Rehn, Governor of the Bank of Finland and an ECB policymaker, is scheduled to speak on Tuesday about monetary policy and the economic outlook for the Finnish and Eurozone economies.
- US Economic Data: The market’s attention is shifting to key US data, starting with JOLTS Job Openings on Tuesday. Expectations suggest openings will rise slightly to 7.75M in January from 7.6M in December.
| SMA (20) | Rising |  | |
| RSI (14) | Rising | | |
| MACD (12, 26, 9) | Rising | | |
Closing statement: EUR/USD remains supported by USD weakness and German reforms. Near-term focus shifts to US economic data and ECB commentary for further directional cues.
GBPUSD
- GBP/USD Price: GBP/USD holds steady near 1.2900 in Tuesday’s European session, supported by a weaker US Dollar amid uncertainty over Trump’s tariffs and mounting US recession fears.
- BoE’s Catherine Mann: BoE MPC member Catherine Mann dismissed the need for a "gradual and cautious" approach to monetary easing, suggesting a more aggressive stance to address global economic volatility.
- BoE Views: Before Mann’s remarks, four other BoE officials, including Governor Andrew Bailey, supported a measured approach to easing, citing concerns over persistent inflation risks.
- Fed Signals: Fed Chair Jerome Powell reassured markets that the central bank sees no urgency to adjust policy, despite rising economic uncertainties.
- US CPI Data: With the Fed in a blackout period before the March 19 meeting, market attention turns to the US CPI release on Wednesday for further inflation clues.
| SMA (20) | Rising | | |
| RSI (14) | Rising | | |
| MACD (12, 26, 9) | Rising | | |
Closing statement: GBP/USD remains supported by USD weakness and mixed BoE signals. Short-term direction hinges on US CPI data and evolving Fed policy expectations.
XAUUSD
- XAU/USD Price: Gold price (XAU/USD) climbs to a fresh daily high above $2,900 during the early European session, extending its intraday positive momentum.
- Safe-Haven Demand: Investors are shifting towards safe-haven assets amid rising concerns over Trump’s trade tariffs, helping gold recover from a one-week low reached on Monday.
- Geopolitical Tensions: Market focus remains on the US-Ukraine Summit starting today, where officials are expected to discuss minerals and a potential peace deal — developments that could impact gold’s outlook.
- Russia-Ukraine Conflict: Tensions escalated after Ukraine’s record drone attacks on Moscow. Russian defenses reportedly destroyed 11 drones, heightening geopolitical risk and supporting gold prices.
- US JOLTS Report: Later in the session, traders will monitor the release of the Job Openings and Labor Turnover Survey (JOLTS) from the US for further cues on the labor market and potential Fed policy shifts.
| SMA (20) | Rising | | |
| RSI (14) | Slightly Rising | |
|
| MACD (12, 26, 9) | Slightly Falling |  |
Closing statement: Gold remains supported by geopolitical risk and tariff uncertainty. Further upside could depend on the US JOLTS data and outcomes from the US-Ukraine Summit.
CRUDE OIL
- WTI Oil Price: West Texas Intermediate (WTI) is trading around $66.10 during early European hours on Tuesday, weighed down by market uncertainty.
- Trade Policy: Uncertainty over the Trump administration's trade policy and a possible global economic slowdown that could weaken oil demand continue to pressure WTI prices.
- US-Iran Tensions: President Trump is attempting to block Iranian oil exports to pressure Tehran into curbing its nuclear program. Iran's Supreme Leader Ayatollah Ali Khamenei stated that Iran will not be forced into negotiations.
- Economic Signals from China: Data from China showed deepening deflationary pressures despite government stimulus. February saw the steepest fall in consumer prices in 13 months and the 29th straight decline in factory-gate prices.
- OPEC+ Decision: Russian Deputy PM Alexander Novak confirmed that OPEC+ will increase production in April but warned that the decision may be reversed if market conditions deteriorate.
| SMA (20) | Falling | | |
| RSI (14) | Falling | | |
| MACD (12, 26, 9) | Falling | | |
Closing statement: WTI faces pressure from trade uncertainty, US-Iran tensions, and China’s economic slowdown. Market focus now shifts to OPEC+ output adjustments and potential shifts in Trump's trade policy.
DAX
- DAX Price: After reaching a record high of 23,475 on Thursday, the DAX has corrected by up to 4% back to the 21-day line following two weak sessions.
- German News: Hopes of an economic boom driven by the billion-euro financial package from CDU/CSU and SPD fueled recent gains. However, the package still needs approval from both the Bundestag and Bundesrat before becoming law.
- Eurozone Economic Outlook: Economic sentiment in the eurozone has improved to its highest level in 13 years, driven by planned increases in defense and infrastructure spending.
- US-China Trade Talks: Trade negotiations between the US and China are reportedly stuck at lower levels, according to Bloomberg, raising concerns about economic decoupling.
- Chinese Policy Updates: Updates from the third session of the 14th National People’s Congress are expected to provide clarity on further economic policy moves, potentially boosting demand for Hong Kong and Mainland China stocks.
| SMA (20) | Rising | | |
| RSI (14) | Slightly Falling | |
|
| MACD (12, 26, 9) | Rising | | |
Closing statement: DAX remains sensitive to progress on Germany’s financial package and the outcome of US-China trade talks. Market direction hinges on concrete policy decisions and global trade developments.