Market Roundup
•US CB Employment Trends Index (Feb) 108.56, 108.35 previous
•French 12-Month BTF Auction 2.287% , 2.239% previous
•French 3-Month BTF Auction 2.395%, 2.396% previous
•French 6-Month BTF Auction 2.363%, 2.339% previous
•US Consumer Inflation Expectations 3.1%,3.0% previous
• US 3-Month Bill Auction 4.200%, 4.210% previous
• US 6-Month Bill Auction 4.075%,4.135% previous
Looking Ahead Economic Data(GMT)
• 00:30 Australia NAB Business Confidence (Feb) 4 previous
• 00:30 Australia NAB Business Survey (Feb) previous 3 previous
Looking Ahead Events And Other Releases(GMT)
• No Events Ahead
Currency Summaries
EUR/USD: The euro remained steady near a four-month high on Monday as dollar dipped as investors remained concerned about an escalating global trade war and its potential impact on the U.S. economy. 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 . On the economic front, German industrial output rose in January but exports plunged, suggesting the outlook for the euro zone's largest economy remains anything but rosy.Investors looked ahead to Germany's inflation figures later this week, a key reading that comes on the heels of a trade war with the U.S. 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 hovered near four month high as dollar weakened on worries about a U.S. economic slowdown and flip-flops in tariff policy. Investors remained wary of the escalating global trade war, fearing its economic fallout on the U.S., with growing speculation about a possible recession. 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. Looking ahead ,investors are turning their attention to this week's monthly GDP release, for insight into UK economy’s health. 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).
USD/CAD: The Canadian dollar weakened against its U.S. counterpart on Monday as investors bet that the Bank of Canada would continue its easing campaign this week to support an economy threatened by U.S. trade tariffs.Members of the ruling Liberal party in Canada have bet on former central banker Mark Carney as the man best placed to take on U.S. President Donald Trump, who has threatened annexation as well as launching a trade war and punishing tariffs on Canada.Investors see an 87% chance that the BoC will cut its benchmark interest rate by 25 basis points on Wednesday, after the central bank lowered the rate by two percentage points since June to a level of 3%..The loonie was trading 0.3% lower at 1.4425, after touching its weakest intraday level since last Wednesday at 1.4440.Immediate resistance can be seen at 1.4473(23.6%fib), an upside break can trigger rise towards 1.4552 (Higher BB).On the downside, immediate support is seen at 1.4361(Daily low), a break below could take the pair towards 1.4304 (38.2%fib)
USD/JPY: The dollar weakened against the yen on Monday as traders flocked to safe-haven currencies due to lingering worries over tariffs and a U.S. economic slowdown, while the euro added to gains after a strong run last week. On the data front, Japan's real wages fell in January after two months of slight gains, data showed on Monday, days before the annual spring rounds of pay talks culminates at major firms.Markets remained focused on trade tensions as Trump imposed tariffs on key partners but later delayed some for a month amid U.S. slowdown fears.The Bank of Japan is widely expected to keep interest rates unchanged at its upcoming policy review on March 18-19, as policymakers assess economic conditions and the impact of global uncertainties.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 146.86(23.6%fib) a break below could take the pair towards 145.95(Lower BB).
Equities Recap
European shares fell to their lowest in nearly a month on Monday, weighed down by declines in tech shares which investors dumped around the world as uncertainty around U.S. tariffs showed no signs of abating.
UK's benchmark FTSE 100 closed down by 1.27 percent, Germany's Dax ended down by 3.54 percent, France’s CAC finished the day down by 1.85 percent.
U.S. stocks tumbled on Monday as ongoing tariff disputes and fears of a federal government shutdown fueled recession concerns.
Dow Jones closed down by 1.55 %percent, S&P 500 closed down by 1.22% percent, Nasdaq settled down by 0.35% percent.
Commodities Recap
Gold prices dipped on Monday as profit-taking countered support from safe-haven demand fuelled by geopolitical uncertainty, while focus was also on the U.S. inflation print.
Spot gold fell 0.8% to $2,887.67 an ounce at 1740 GMT, after rising 2% in the previous week. U.S. gold futures settled 0.5% lower at $2,899.40.
Oil prices were down 1% on Monday on fears that U.S. tariffs on Canada, Mexico and China would slow economies around the world and slash energy demand while OPEC+ ramps up its supply.
Brent crude oil futures futures settled at $69.28 a barrel, down $1.08, or 1.5%. U.S. West Texas Intermediate futures settled at $66.03 a barrel, shedding $1.01, 1.5%. 1.5%
