Market Roundup
• Australia Westpac Consumer Sentiment (Mar) 4.0% 0.1% previous
•Japan Household Spending (MoM) (Jan) -4.5% -1.9% forecast 2.3% previous
•Japan Household Spending (YoY) (Jan) 0.8% 3.7% forecast 2.7% previous
•Japan GDP (QoQ) (Q4) 0.6% 0.7% forecast 0.3% previous
•Japan GDP Annualized (QoQ) (Q4) 2.2% 1.2% previous
•Japan GDP Capital Expenditure (QoQ) (Q4) 0.6% 0.5% forecast -0.1% previous
•Japan GDP External Demand (QoQ) (Q4) 0.7% 0.7% forecast -0.2% previous
•Japan GDP Price Index (YoY) (Q4) 2.9% 2.8% forecast 2.4% previous
•Japan GDP Private Consumption (QoQ) (Q4) 0.0% 0.1% forecast 0.7% previous
•Japan M2 Money Stock (YoY) 1.2% 1.4% forecast 1.3% previous
•Japan M3 Money Supply (Feb) 2,199.8B 2,200.7B previous
•Australia NAB Business Confidence (Feb) -1, 5 previous
•Australia NAB Business Survey (Feb) 4, 3 previous
•Japan Machine Tool Orders (YoY) (Feb) 3.5%, 4.7% forecast,11.2%previous
Looking Ahead Economic Data(GMT)
•09:40 Spanish 3-Month Letras Auction 2.431% previous
•10:00 US NFIB Small Business Optimism (Feb) 100.9 forecast, 102.8 previous
Looking Ahead Events And Other Releases(GMT)
• No Events Ahead
Currency Forecast
EUR/USD: The euro strengthened on Tuesday as dollar weakened amid simmering trade tensions and fears of economic slowdown. Trump imposed 25% tariffs on imports from Mexico and Canada last Tuesday, along with fresh duties on Chinese goods, but later exempted many Mexican and Canadian imports from those tariffs for a month, creating uncertainty in the markets and fanning worries of U.S. inflation and growth slowdown. Investors looked ahead to Germany's inflation figures later this week, a reading that comes as European Union trade tensions with the United States simmer.In the U.S., Federal Reserve speakers scheduled to speak include Chair Jerome Powell on the U.S. economic outlook. Immediate resistance can be seen at 1.0875 (23.6%fib), an upside break can trigger rise towards 1.0938(Higher BB).On the downside, immediate support is seen at 1.0835(Daily low), a break below could take the pair towards 1.0758(38.2%fib).
GBP/USD: The British pound was little changed on Tuesday as concerns over a potential tariff-driven U.S. recession sapped risk appetite across financial markets. The downside risks to global growth from tariffs have been a concern for investors in recent sessions, particularly in light of a series of weak U.S. economic data signalling a slowdown in the world's largest economy.On Sunday, Trump declined to comment on the negative market reaction to his on-again, off-again tariff actions against the biggest U.S. trading partners, and whether anxieties related to his erratic policy shifts could nudge a softening economy into recession. The dollar index , which measures the U.S. currency against six other units, was huddled near a four-month low . Immediate resistance can be seen at 1.2936(23.6%fib), an upside break can trigger rise towards 1.3020(Higher BB).On the downside, immediate support is seen at 1.2862(March 10th low), a break below could take the pair towards 1.2784(38.2%fib)
AUD/USD: The Australian dollar edged lower on Tuesday as escalating geopolitical tensions and global trade war concerns fueled risk aversion in the market.A wave of new policies under U.S. President Donald Trump has heightened uncertainty for businesses, consumers, and investors.A survey showed on Tuesday, Australian consumer sentiment surged to a three-year high in March, driven by slowing inflation and the first interest rate cut in over four years, boosting consumer confidence, a survey showed on Tuesday.At GMT 05:18, The Australian dollar was last trading down 0.13% to $0.6268. Immediate resistance can be seen at 0.6287(Daily high), an upside break can trigger rise towards 0.6340(38.2%fib).On the downside, immediate support is seen at 0.6246(38.2%fib), a break below could take the pair towards 0.6222(Lower BB).
USD/JPY: The dollar weakened against the yen on Tuesday as demand for safe-haven Japanese yen increased amid global trade war fears. A barrage of new Trump policies has increased uncertainty for businesses, consumers and investors, notably back-and-forth tariff moves against major trading partners like Canada, Mexico and China.On the data front, Japan GDP expanded an annualised 2.2% in the three months to December, the Cabinet Office's revised data showed on Tuesday, slower than the 2.8% growth in the initial estimate and economists' median forecast. Japanese yen touched a five-month high against the dollar and was last at 147.07 per dollar. The yen is up 7% against the dollar in 2025. Immediate resistance can be seen at 147.45(Daily high) an upside break can trigger rise towards 148.32(38.2%fib). On the downside, immediate support is seen at 146.36(23.6%fib) a break below could take the pair towards 145.00(Psychological level).
Equities Recap
Asian stocks tumbled on Tuesday as the market selloff deepened, fueled by growing fears that an escalating trade war could slow U.S. economic growth and trigger a recession.
Japan’s Nikkei 22 was down 0.47% , South Korea's KOSPI was down 1.24 %,Hang Seng was down by 0.83 %,
Commodities Recap
Gold gained on Tuesday as a weaker dollar and lower Treasury yields supported demand, while investors awaited inflation data to gauge the Federal Reserve’s policy outlook amid trade tensions and recession fears.
Spot gold rose 0.3% to $2,898.27 an ounce as of 0501 GMT, while U.S. gold futures firmed 0.1 to $2,902.50.
Oil prices declined for a second straight day on Tuesday amid growing fears of a U.S. recession, tariff-related pressures on global growth, and expectations that OPEC+ may increase supply.
Brent futures fell 6 cents, or 0.1%, to $69.22 a barrel at 0402 GMT, while U.S. West Texas Intermediate crude futures lost 13 cents, or 0.2%, to $65.90 a barrel.
