Market Roundup
• New Zealand Exports (Feb) 6.74B, 6.06B previous
• New Zealand Imports (Feb) 6.23B, 6.60B previous
• New Zealand Trade Balance (MoM) (Feb) 510M, -235M forecast,-544M previous
• New Zealand Trade Balance (YoY) (Feb) -6,510M, -7,340M previous
•Japan CPI, n.s.a (MoM) (Feb) -0.4%, 0.5% previous
•Japan National Core CPI (YoY) (Feb) 3.0%, 2.9% forecast, 3.2% previous
•Japan National CPI (MoM) (Feb) -0.1%, 0.5% previous
•Japan National CPI (YoY) (Feb) 3.7%,4.0% previous
•Japan Foreign Bonds Buying -87.6B,-353.7B previous
•Japan Foreign Investments in Japanese Stocks -1,806.2B,-219.6B previous
Looking Ahead Economic Data(GMT
•08:00 French Business Survey (Mar) 97 forecast, 97 previous
•08:00 Swiss M3 Money Supply (Feb) 1,152.9B previous
•09:00 EU Current Account (Jan) 38.4B previous
•09:00 EUR Current Account n.s.a. (Jan) 50.5B previous
•10:00 Belgium Consumer Confidence (Mar) -4 previous
•11:00 UK CBI Industrial Trends Orders (Mar) -30 forecast, -28 previous
Looking Ahead Events And Other Releases(GMT)
•10:00 EU Leaders Summit
Currency Forecast
EUR/USD: The euro slipped on Friday as the dollar strengthened further after the Federal Reserve signaled no urgency in cutting interest rates.Global central banks, including the Fed, BOJ, and BOE, maintained a cautious stance this week, with policymakers highlighting economic uncertainty driven by rising U.S. trade tensions under President Trump.Investors are now focusing on the details of Trump’s April 2 tariffs, as markets grow increasingly concerned about the impact of escalating trade measures on inflation and economic growth.The euro slipped 0.18% to $1.0831 after dropping 0.45% on Thursday. Immediate resistance can be seen at 1.0946 (23.6%fib), an upside break can trigger rise towards 1.1000(Psychological level).On the downside, immediate support is seen at 1.0804(38.2%fib), a break below could take the pair towards 1.0693(50%fib).
GBP/USD: The British pound remained lower on Friday as dollar continued to strengthen after the Federal Reserve indicated it was in no rush to cut interest rates further. Fed policymakers held rates steady on Wednesday and signaled two quarter-point cuts for later this year, the same median forecast as three months ago. Bank of England policy makers, in an 8 to 1 vote, held interest rates at 4.5% and warned against the expectation that interest rates would be reduced in the coming meetings. Bank of England Governor Andrew Bailey said the central bank would have to be prudent about cutting rates because the fall in inflation has been very gradual. Sterling eased 0.19% to $1.2943.Immediate resistance can be seen at 1.3012(23.6%fib), an upside break can trigger rise towards 1.3072(Higher BB).On the downside, immediate support is seen at 1.2902(March 17th low), a break below could take the pair towards 1.2873(38.2%fib)
AUD/USD: The Australian dollar weakened against the U.S. dollar on Friday as concerns over the economic impact of Trump’s global trade tariffs pressured the risk-sensitive currency.Global central banks, including the Fed, BOJ, and BOE, maintained a cautious stance this week, keeping rates unchanged amid rising economic uncertainty.Looking ahead, Australia's government will release its federal budget on Tuesday, focusing on cost-of-living relief ahead of the May election, with a return to deficit expected after two consecutive surpluses.Meanwhile, February’s monthly inflation data, scheduled for release on Wednesday, is forecasted to show a 2.5% annual increase. At GMT 07:37, The Australian dollar was last trading down 0.13% to $0.6294. Immediate resistance can be seen at 0.6347(50%fib), an upside break can trigger rise towards 0.6392(Higher BB).On the downside, immediate support is seen at 0.6268(38.2%fib), a break below could take the pair towards 0.6214(Lower BB).
USD/JPY: The dollar strengthened against the yen on Friday as the Federal Reserve’s stance of no urgency in cutting rates boosted the greenback.Global policymakers, including the Fed, BOJ, and BOE, maintained a cautious approach, holding rates steady amid rising economic and political uncertainty.Central bankers cited increasing trade tensions under President Trump, who plans to impose new reciprocal tariffs on April 2, adding to market unease.Meanwhile, traders were closely monitoring U.S.-Russia talks on the Ukraine war set for Sunday in Jeddah, a potential geopolitical risk event that could drive market volatility. Immediate resistance can be seen at 149.82(38.2%fib) an upside break can trigger rise towards 151.50(61.8%fib). On the downside, immediate support is seen at 148.11(38.2%fib) a break below could take the pair towards 147.34(Lower BB).
Equities Recap
Asian stocks fell on Friday as deepening geopolitical worries and fears over U.S. tariffs and their impact on the global economy curbed investors appetite for risk.
Japan’s Nikkei 22 was down 0.51% , South Korea's KOSPI was up 0.23%,Hang Seng was down by 2.06 %,
Commodities Recap
Gold prices was on track third consecutive weekly gain, bolstered by the U.S. Federal Reserve's indications of potential rate cuts later this year and heightened safe-haven demand amid geopolitical and economic uncertainties.
Spot gold reached a record high of $3,057.21 per ounce on Thursday, and despite a slight pullback to $3,029.86, it has risen approximately 1.5% this week.
Oil prices climbed on Friday and were on track for a second straight weekly gain as new U.S. sanctions on Iran and OPEC+’s fresh output cut plans fueled expectations of tighter global supply.
Brent crude futures climbed 14 cents, or 0.2%, to $72.14 per barrel by 0642 GMT. U.S. West Texas Intermediate crude futures were up 16 cents, also 0.2%, to $68.23 a barrel.
