EURUSD
- EUR/USD Price: EUR/USD remains weak under 1.0800 during Wednesday’s European session, weighed down by renewed US Dollar strength following the latest tariff threats from US President Trump.
- ECB’s Panetta: ECB policymaker Fabio Panetta emphasized that the central bank must stay pragmatic and data-driven when setting the policy rate, suggesting a cautious approach toward future rate cuts.
- ECB's Villeroy: ECB Governing Council member Francois Villeroy de Galhau hinted at further rate cuts, suggesting that the 2.5% deposit rate could drop to 2% by the end of summer.
- ECB's Lagarde: ECB President Christine Lagarde cautioned that an escalating US-EU trade conflict could reduce Eurozone GDP growth by 0.5 percentage points, though deeper trade integration could soften the blow.
- US Consumer Confidence: US consumer confidence fell to its lowest level in over four years in March, highlighting how trade uncertainty is weighing on household sentiment.
| SMA (20) | Rising |  | |
| RSI (14) | Slightly Rising | |
|
| MACD (12, 26, 9) | Slightly Rising | |
Closing statement: EUR/USD faces headwinds from US tariff threats and weak US consumer confidence, while the ECB’s cautious tone on rate cuts suggests limited near-term upside.
GBPUSD
- GBP/USD Price: GBP/USD trades modestly lower under 1.2950 in the European session, though the 14-day RSI above 50 signals continued bullish momentum despite the pullback.
- UK Inflation: UK’s CPI inflation eased to 2.8% in February from 3% in January, missing the market forecast of 2.9%. The lower reading has weakened demand for the Pound Sterling.
- Copper Tariffs: US President Donald Trump announced plans to impose copper import tariffs within weeks, raising concerns over potential supply chain disruptions.
- Moody’s Warning: Moody’s issued a warning about the deterioration of US fiscal strength, highlighting increasing challenges with the affordability of US debt servicing.
- US New Home Sales: US New Home Sales rose by 1.8% to an annualized rate of 676,000 units in February, signaling resilience in the US housing market.
| SMA (20) | Rising | | |
| RSI (14) | Slightly Rising | |
|
| MACD (12, 26, 9) | Slightly Rising | |
Closing statement: GBP/USD faces pressure from weaker UK inflation and US fiscal concerns, though strong bullish momentum could limit further downside.
XAUUSD
- XAU/USD Price: Gold remains resilient above $3,000, with positive daily chart oscillators suggesting that the path of least resistance is to the upside.
- Tariff Plans: US President Donald Trump plans to impose three levels of tariffs on April 2, with Canada facing lower tariffs. Trump clarified that tariffs will be reciprocal with few exceptions.
- Fed Signals: The Fed projected two 25 bps rate cuts by year-end, but markets are pricing in cuts at the June, July, and October meetings, raising expectations of looser monetary policy.
- Peace Deal Progress: The US brokered an agreement with Ukraine and Russia to pause attacks at sea and on energy infrastructure, with Washington agreeing to push for reduced sanctions on Moscow.
- US News: Traders await US Durable Goods Orders data and comments from key FOMC members on Wednesday for further guidance on the USD and gold’s next move.
| SMA (20) | Rising | | |
| RSI (14) | Rising | | |
| MACD (12, 26, 9) | Rising | | |
Closing statement: Gold remains technically strong above $3,000, supported by tariff uncertainties and Fed rate cut expectations, though US data could drive short-term volatility.
CRUDE OIL
- Crude Oil Price: West Texas Intermediate (WTI) trades around $69.20 in early European hours on Wednesday, maintaining stability despite mixed geopolitical and supply signals.
- Russia-Ukraine Ceasefire: Russia and Ukraine reached an agreement to halt military strikes in the Black Sea and on energy infrastructure after US-mediated negotiations, easing supply disruption fears.
- Middle East Tensions: US attacks on Houthi positions in Yemen risk drawing Iran further into the conflict, raising concerns over broader regional instability and potential supply disruptions.
- OPEC+ Plan: OPEC+ is expected to maintain planned production increases in May despite earlier excess output from some member states, per a Reuters report.
- Crude Inventories: The API reported a 4.6 million barrel decline in US crude oil inventories for the week ending March 14, suggesting stronger demand and tighter supply.
| SMA (20) | Falling |  | |
| RSI (14) | Rising | | |
| MACD (12, 26, 9) | Slightly Rising | |
Closing statement: Crude oil remains stable near $69, supported by inventory drawdowns and geopolitical risks, while OPEC+ supply stability could limit upside momentum.
DAX
- DAX Price: The DAX gained 1.13% on Tuesday, closing at 23,110, snapping a three-day losing streak as easing US tariff concerns boosted market sentiment.
- Tariff Shift: Auto, pharmaceutical, and tech stocks rose after Trump’s softened tariff stance on key imports, improving investor confidence.
- German Economic Outlook: Germany’s Ifo Business Climate Index rose to 86.7 in March (up from 85.3), while the Expectations Index climbed to 87.7, reflecting rising confidence in economic recovery.
- US Consumer Confidence: The US Consumer Confidence Index fell to 92.9 in March from 100.1 in February, highlighting growing consumer concerns over income, jobs, and the broader economy.
- US Data: Attention shifts to US durable goods data on Wednesday, with economists expecting a 1% decline in February following a strong 3.1% increase in January.
| SMA (20) | Rising | | |
| RSI (14) | Slightly Rising | |
|
| MACD (12, 26, 9) | Slightly Rising | |
Closing statement: DAX’s recovery is supported by improving German economic indicators and easing US tariff tensions, but weak US consumer data could cap gains.