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Gold soars as investors flock to safety on trade and geopolitical uncertainty
XAU/USD climbs to $2,888 as markets brace for tariffs, weaker US growth Gold snaps a two-day losing streak as risk-off sentiment drives safe-haven flows. Trump’s tariff threats, clash with Zelenskyy fuel market uncertainty. Atlanta Fed GDP Now forecast plunges to -2.8%, boosts Gold’s appeal. Gold price is rallying over 1% on Monday, snapping two days
Australian weekly consumer sentiment survey dropped to 87.7 (prior 89.8)
A reading bhe ANZ-Roy Morgan Australian Consumer Confidence index has dropped back to 87.7 from 89.8 in the previous week, which was its highest since May 2022 A reading below 100 indicates net pessimist, where this survey has been since early 2022. This article was written by Eamonn Sheridan at www.forexlive.com. Source link
Stocks kick off March with biggest drop in months as Trump tariffs rattle market
Published: March 3, 2025 at 5:02 p.m. ET U.S. stocks endured another serious setback on Monday as what one trader described as a tariff “tape bomb” from President Donald Trump caused the S&P 500 to tally its biggest daily drop in months. After a rocky month that saw the Nasdaq Composite COMP fall sharply from its
US Dollar tumbles as Ukraine peace talks gain traction
DXY erases Friday’s gains, slipping as European leaders back Ukraine peace deal guarantees. US Manufacturing PMI beats estimates, while ISM Manufacturing PMI misses expectations. Bond yields edge lower, reinforcing expectations of Fed rate cuts later in 2025. Technical indicators suggest further downside as key moving averages converge near 107.00. The US Dollar Index (DXY), which
Australian dollar ends skid, retail sales and RBA minutes next
The Australian dollar has posted strong gains to start the week. AUD/USD is trading at 0.6203 in the North American session, up 0.71% on the day. The Aussie has ended a nasty six-day losing streak, during which it declined 3% against the US dollar. Will Australian retail sales rebound? Australia releases retail sales on Tuesday,
It’s tough to imagine some of those cryptos will ever make it into a strategic reserve
Even aside from the possible front-running of the announcement, I’ve seldom seen such a universally skeptical response to an announcement from Trump as Sunday’s crypto reserve. Trump later added bitcoin, ethereum and ‘other valuable cryptocurrencies’. Naturally, the named coins ripped higher immediately. But if you read between the lines, it’s not clear exactly what has
“Coalition of the Willing” Fuels Euro Strength, Boosts Defense Outlook
European markets saw a strong rally today, with notable fund inflows driving gains in DAX and Euro. Investor sentiment was boosted by expectations of increased military spending after the announcement of the UK and France-led “Coalition of the Willing” to support Ukraine. FTSE and Sterling also benefited from the renewed optimism, as traders priced in
What Nvidia’s market valuation says about where the stock will be in 5 years
Published: March 3, 2025 at 8:05 a.m. ET Nvidia Corp.’s market performance over the past six months is a good illustration of the difference between a good company and a good stock. Nvidia — the company — has performed phenomenally. Its cumulative earnings per share over the past two quarters were more than 800% higher than
Pound Sterling gains as Ukraine peace plan increases investors’ risk appetite
The Pound Sterling rises to near 1.2650 against the US Dollar due to positive developments in the Russia-Ukraine peace truce. Fears of US President Trump’s tariffs on Canada, Mexico, and China loom large. The BoE is expected to follow a careful and gradual policy-easing approach. The Pound Sterling (GBP) trades higher against its major peers, except
USD/CAD Outlook: CAD Steadies as Canada’s GDP Surprises
The USD/CAD outlook indicates unexpected strength in Canada’s economy. The outlook for Canada’s economy remains gloomy. PCE data revealed a decline in US consumer spending. The USD/CAD outlook indicates unexpected strength in Canada’s economy that has paused the loonie’s recent decline. However, the outlook for the currency remains bleak as market participants expect Trump’s tariffs
India Manufacturing Growth Slowest In 14 Months
India’s manufacturing activity continued to expand strongly in February, though at the weakest pace in more than a year, data compiled by S&P Global showed on Monday. The HSBC final manufacturing Purchasing Managers’ Index dropped to 56.3 in February from 57.7 in January. The flash reading was 57.1. However, a score above 50.0 indicates expansion.
Bitcoin Roars Back as Trump Plans Strategic Crypto Reserve; Tariffs, Geopolitics, NFP and ECB to Move Markets
Bitcoin led the charge in an otherwise quiet Asian session, rebounding over 20% from last week’s low after a major announcement from US President Donald Trump. The cryptocurrency sector saw dramatic relief from its steep selloff last week, as Trump revealed the creation of a strategic crypto reserve, including Bitcoin, Solana, XRP, and other digital
USD/INR loses traction on likely RBI intervention
The Indian Rupee gains traction in Monday’s early European session. Foreign exchange intervention from the RBI might help limit the INR’s losses. India’s HSBC Manufacturing PMI and US ISM Manufacturing PMI will take center stage later on Monday. The Indian Rupee (INR) gathers strength on Monday. The potential intervention from the Reserve Bank of India (RBI)
FX option expiries for 3 March 10am New York cut
There is just one to take note of on the day, as highlighted in bold. That being for USD/CAD at the 1.4440 level. It’s not one that ties to any technical significance and with the dollar and loonie now, a lot will ride on Trump’s tariffs plan in the next 24 hours. So, the expiries
Market Outlook for the Week of 3rd – 7th March
It will be a busy week ahead with numerous economic events. Monday kicks off with manufacturing PMI releases for the eurozone, Switzerland, the U.K., and Canada. However, special attention will be on the U.S. ISM manufacturing PMI and ISM manufacturing prices. On Tuesday, Australia’s monetary policy meeting minutes will be released alongside retail sales data
Japan Manufacturing Sector Shrinks At Slower Pace
Japan’s manufacturing activity continued to contract in February albeit at a slower pace, final survey data from S&P Global revealed on Monday. The au Jibun Bank manufacturing Purchasing Managers’ Index rose to 49.0 in February from 48.7 in January. The flash reading was 48.9. However, a reading below 50.0 indicates contraction. Operating conditions deteriorated for