Asia Roundup: Euro holds near 5-month high ,Asian stocks rise, Gold firms, Oil prices rise-March 17th,2025

Market Roundup

• China House Prices (YoY) (Feb)              -4.8%, -5.0% previous   

• China Fixed Asset Investment (YoY) (Feb) 4.1%   , 3.2%forecast,  3.2% previous   

• China Industrial Production (YoY) (Feb) 5.9%,5.3% forecast,6.2% previous        

• China Chinese Industrial Production YTD (YoY) (Feb)    5.9%,5.8% previous                        
• China Retail Sales (YoY) (Feb)  4.0%,3.8% forecast, 3.7% previous          

• China Chinese Retail Sales YTD (YoY) (Feb) 2.98%, 3.48% previous         

• China Chinese Unemployment Rate (Feb)5.4%,5.1% forecast, 5.1% previous  

Looking Ahead Economic Data(GMT)

• 09:00 Italian CPI (YoY) (Feb)  1.7% forecast, 1.5% previous        

• 09:00 Italian CPI (MoM) (Feb) 0.2% forecast,   0.6% previous                   

• 09:00 Italian   CPI Ex Tobacco (YoY) (Feb) 1.3% previous                             

• 09:00 Italian HICP (MoM) (Feb) 0.1% forecast, -0.8% previous                

• 09:00 Italian HICP (YoY) (Feb)   1.7%     forecast, 1.7% previous                

Looking Ahead Events And Other Releases(GMT)

• 11:00  German Buba Monthly Report

Currency Forecast

EUR/USD: The euro remained close to a five-month high after German parties reached a fiscal agreement on Friday that could increase defense spending and stimulate growth in Europe's largest economy. Chancellor-in-waiting Friedrich Merz announced on Friday that he had secured the crucial backing of the Greens for a massive increase in state borrowing.The deal will likely be approved by the outgoing parliament this week. It includes a 500 billion euro ($544 billion) fund for infrastructure and sweeping changes to borrowing rules. The euro was fetching $1.0875, slightly off the $1.0947 level it hit last Tuesday for the first time since October 11. Immediate resistance can be seen at 1.0947 (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 was little changed on Monday as investors continue to navigate ongoing geopolitical tensions and economic uncertainties. Data on Friday showed U.S. consumer sentiment plunged to a nearly 2-1/2-year low in March and inflation expectations soared amid worries about the effect of Trump's sweeping tariffs, which have ignited a global trade war.Investors will be bracing for a busy week filled with central bank policy decisions including from the Federal Reserve.The Fed is widely expected to keep interest rates on hold, though traders will be looking for hints about further cuts that could restore calm to markets. Immediate resistance can be seen at 1.2970(23.6%fib), an upside break can trigger rise towards 1.3049(Higher BB).On the downside, immediate support is seen at 1.2876(March 11th low), a break below could take the pair towards 1.2837(38.2%fib)

AUD/USD: The Australian dollar steadied against the U.S. dollar on Monday as market participants focused on the upcoming global central bank meetings.This week, the spotlight is on central bank meetings in the United States, Japan, and the United Kingdom, as key decisions are expected to shape the future of global monetary policy. Markets are confident that policymakers will keep rates unchanged, but any indication of their concerns about a potential U.S. recession could impact currency prices.Australian February labor data is set to be released on Thursday, and it is expected to provide important insights into the health of the country's labor market.At GMT 05:44, The Australian dollar  was last  trading up  0.07% to $0.6327. Immediate resistance can be seen at 0.6332(38.2%fib), an upside break can trigger rise towards 0.6382(23.6%fib).On the downside, immediate support is seen at 0.6303(50%fib), a break below could take the pair towards 0.6279(61.8%fib).

 USD/JPY: The dollar edged  on Monday   as the yen retraced some of its gains as investors awaited Bank of japan rate decision on Wednesday. The Bank of Japan is tipped to keep interest rates steady, but the conditions for another rate hike have been falling into place, with big Japanese firms offering bumper pay hikes in wage talks with unions for a third straight year.Speaking in parliament last week, BOJ Governor Kazuo Ueda said he expects wage rises to spur a pick-up in consumption, although he was very worried about uncertainties surrounding overseas economic developments. The dollar added 0.13% to 148.83 yen . Immediate resistance can be seen at 149.16(38.2%fib) an upside break can trigger rise towards 150.37(50%fib). On the downside, immediate support is seen at 147.50(23.6%fib) a break below could take the pair towards 146.74(Lower BB).

Equities Recap          

 Asian markets rose on Monday as investors cheered China's plans to boost consumption, though concerns over Trump's tariff war kept a cautious tone.

Japan’s Nikkei 22 was up  0.95%  , South Korea's KOSPI was up 1.73 %,Hang Seng was up  by 0.78 %,

Commodities Recap                     

Oil prices surged on Monday as investors assessed the differing economic conditions between the United States and other global markets.  

Brent futures were up 1.06% at $71.33 per barrel, while U.S. West Texas Intermediate crude futures also jumped 1.12% to $67.94 a barrel.               

Gold prices remained just below the $3,000-per-ounce mark on Monday as  the intensifying U.S.-led tariff war further threatened economic growth, adding to existing geopolitical tensions.

Spot gold had firmed 0.1% to $2,988.68 an ounce as of 0715 GMT. It hit a record high of $3,004.86 on Friday.