Tariff fears loom large. With early April's reciprocal trade tariffs fast approaching, markets are bracing for potential fallout, and Europe could be in the crosshairs.
U.S. consumer confidence hits 4-month low due to inflation concerns. All groups show decline in sentiment, with highest inflation expectations since 1993.
On March 13, US markets closed lower, with the S&P 500 entering a correction as trade war fears overshadowed positive inflation data. Gold hit record high, while Dow and Nasdaq declined.
The Japanese Yen (JPY) attracts some sellers during the Asian session on Friday and reverses the previous day's positive move against its American counterpart amid a slight improvement in the global risk sentiment.
Short term outlook of EURUSD shows a bullish impulsive structure with extension (nest) from 1.13.2025 low. Up from 1.13.2025 low, wave 1 ended at 1.0533 and pullback in wave 2 ended at 1.0205.
EUR/USD trimmed a bit more of its recent gains on Thursday, falling back around one-third of one percent as Europe gears up for a protracted back-and-forth on trade tariffs with US President Donald Trump.
The current view suggests XAUUSD has completed a 5-waves pattern in the cycle from the 2832.2 low. GOLD is now forming a wave ((ii)) black correction. The price shows an incomplete sequence in the decline from the peak.
Stocks are hitting some 'must hold' levels. The slow managed decline suggests that we may not be done with this unwinding, flash relief rallies notwithstanding.
There seems to be a nervous calm in the foreign exchange market as the dollar consolidates mostly inside yesterday's ranges, in largely uneventful turnover.
