Market Roundup
•Australia Judo Bank Manufacturing PMI (Mar) 52.1, 52.6 forecast, 50.4 previous
•Japan Jobs/applications ratio (Feb) 1.24, 1.26 forecast, 1.26 previous
•Japan Unemployment Rate (Feb) 2.4%, 2.5% forecast, 2.5% previous
•Japan Tankan All Big Industry CAPEX (Q1) 3.1%, previous 11.3%
•Japan Tankan All Small Industry CAPEX (Q1) -10.0%, previous 4.0%
•Japan Tankan Big Manufacturing Outlook Index (Q1) 12, 9 forecast, 13 previous
•Japan Tankan Large Manufacturers Index (Q1) 12, 12 forecast, 14 previous
•Japan Tankan Large Non-Manufacturers Diffusion Index (Q1) 28, 29 forecast, 28 previous
•Japan Tankan Large Non-Manufacturers Index (Q1) 35, 33 forecast, 33 previous
•Australia Retail Sales (MoM) (Feb) 0.2%, 0.3% forecast, 0.3% previous
•Japan au Jibun Bank Manufacturing PMI (Mar) 48.4, 48.3 forecast, 49.0 previous
•Australia RBA Interest Rate Decision (Apr) 4.10%, 4.10% forecast, 4.10% previous
Looking Ahead Economic Data(GMT)
•06:00 UK Nationwide HPI (MoM) (Mar) 0.2% forecast, 0.4% previous
•06:00 UK Nationwide HPI (YoY) (Mar) 3.9% previous
•07:15 EU HCOB Spain Manufacturing PMI (Mar) 49.8 forecast, 49.7 previous
•07:45 EU HCOB Italy Manufacturing PMI (Mar) 47.9 forecast, 47.4 previous
•07:50 EU HCOB France Manufacturing PMI (Mar) 48.9 forecast, 45.8 previous
•07:55 EU HCOB Germany Manufacturing PMI (Mar) 48.4 forecast, 46.5 previous
•08:00 Italian Monthly Unemployment Rate 6.3% forecast, 6.3% previous
•08:00 S&P Global Greece Manufacturing PMI (Mar) 52.6 previous
•08:00 HCOB Eurozone Manufacturing PMI (Mar) 48.7 forecast, 47.6 previous
•08:00 UK S&P Global Manufacturing PMI (Mar) 44.6 forecast, 46.9 previous
•09:00 EU Core CPI (YoY) (Mar) 2.5% forecast, 2.6% previous
•09:00 EU Core CPI (MoM) (Mar) 0.5% previous
•09:00 EU CPI (MoM) (Mar) 0.4% previous
•09:00 EU CPI (YoY) (Mar) 2.2% forecast, 2.3% previous
•09:00 EU CPI, n.s.a (Mar) 127.26 previous
•09:00 EU HICP ex Energy & Food (YoY) (Mar) 2.6% previous
•09:00 EU HICP ex Energy and Food (MoM) (Mar) 0.5% previous
•09:00 EU Unemployment Rate (Feb) 6.2%, 6.2% previous
Looking Ahead Events And Other Releases(GMT)
•12:30 ECB President Lagarde Speaks
Currency Forecast
EUR/USD: The euro edged higher on Tuesday as the dollar weakened, with investors preparing for reciprocal tariffs from U.S. President Donald Trump this week. Market focus is on the upcoming round of tariffs the White House is expected to announce on Wednesday, although details remain limited. Trump stated late Sunday that nearly all countries would face duties this week. In addition to the tariff news, investors are gearing up for a busy week ahead, with key economic reports, including jobs and payrolls data, potentially providing crucial insights into how the U.S. economy is performing under Trump’s second term. Immediate resistance can be seen at 1.0854(38.2%fib), an upside break can trigger rise towards 1.0969(23.6%fib).On the downside, immediate support is seen at 1.0741(50%fib), a break below could take the pair towards 1.0661(Lower BB).
GBP/USD: The British pound edged higher on Tuesday as markets awaited details of U.S. President Donald Trump's reciprocal tariffs. Trump, who views tariffs as a way to protect the domestic economy from unfair global competition, has promised to unveil a massive tariff plan on Wednesday, calling it Liberation Day. The reciprocal tariffs he is set to announce will affect all nations. Markets are also closely watching the automobile tariffs, which are set to take effect on April 3. Britain hopes to negotiate a deal to avoid these tariffs, with Prime Minister Keir Starmer and Trump having productive negotiations for a UK-U.S. economic prosperity deal during a Sunday phone call. Immediate resistance can be seen at 1.3007(23.6%fib), an upside break can trigger rise towards 1.3052(Higher BB).On the downside, immediate support is seen at 1.2849(38.2%fib), a break below could take the pair towards 1.2818(Lower BB).
AUD/USD: The Australian dollar steadied on Tuesday after the country’s central bank decided to keep interest rates unchanged, as anticipated. However, the central bank adopted a slightly more dovish stance by omitting its previous reference to exercising caution regarding further rate cuts. Wrapping up its April policy meeting, the Reserve Bank of Australia (RBA) held interest rates steady at 4.1%, having just cut them by a quarter point in February for the first time in over four years. The Aussie was last trading at $0.6259 , having fallen 0.6% the previous session to a one-month low of $0.6217.Immediate resistance can be seen at 0.6313(50%fib), an upside break can trigger rise towards 0.6358(March 20th high).On the downside, immediate support is seen at 0.6258(38.2%fib), a break below could take the pair towards 0.6232(Lower BB).
USD/JPY: The dollar eased on Tuesday as demand for the safe-haven yen increased, driven by concerns over U.S. President Donald Trump's upcoming announcement of extensive tariff plans on April 2. Investors are anxiously awaiting April 2, a day Trump has called "Liberation Day," when he is expected to unveil a massive reciprocal tariff plan. On the data front, Japan's factory activity declined further in March, with weakening demand and the growing U.S. trade war clouding the manufacturing outlook. A private-sector survey revealed that the final au Jibun Bank Japan Manufacturing Purchasing Managers' Index (PMI) dropped to 48.4 in March from 49.0 in February, marking the lowest level in 12 months. Immediate resistance can be seen at 150.49(38.2%fib) an upside break can trigger rise towards 151.27(Higher BB). On the downside, immediate support is seen at 148.78(23.6%fib) a break below could take the pair towards 148.00(Psychological level).
Equities Recap
Asian equities rose on Tuesday as markets awaited details of U.S. President Donald Trump's reciprocal tariffs.
Japan's Nikkei 225 was up 0.28% , South Korea's KOSPI was up 1.94%,Hang Seng was up by 0.38%
Commodities Recap
Gold prices hit a record high on Tuesday as concerns grew that U.S. President Donald Trump's reciprocal tariffs could trigger inflationary pressures and hinder economic growth, boosting demand for safe-haven assets.
Spot gold was up 0.6% at $3,142.83 an ounce, as of 0310 GMT, after hitting an all-time high of $3,145.38 earlier in the session. U.S. gold futures rose 0.7% to $3,171.80.
Oil prices inched higher on Tuesday following threats from U.S. President Donald Trump to impose secondary tariffs on Russian crude and take action against Iran. However, concerns about the potential impact of a trade war on global growth limited the gains.
Brent futures rose 16 cents, or 0.2%,to $74.93 a barrel at 0330GMT, while U.S. West Texas Intermediate crude futures climbed 13 cents, or 0.2%, to$71.61.
