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Daily Global Market Update – 19th March, 2025

EUR/USD Swings Between 1.0905 and 1.0970 The Euro (EUR) against the US Dollar (USD) is set for a choppy ride, likely trading between 1.0905 and 1.0970, according to UOB Group analysts. This comes as the pair hovers near 1.0930 in early European trading, pressured by a resurgent USD ahead of the Fed’s rate decision. A softer Greenback earlier this week had lifted EUR/USD to a five-month high of 1.0967, but with the FOMC outcome looming, volatility is the name of the game. Gold Takes a Breather Near Record Highs Gold (XAU/USD) bulls are catching their breath after pushing prices to a fresh all-time high above $3,038. Trading around $3,029 in the European session, the precious metal is consolidating as markets await the Fed’s next move, expected to hold rates steady at 4.25%-4.50%. Despite a slight pullback, gold’s safe-haven allure remains strong amid tariff uncertainties and a shaky USD, keeping it poised near the $3,000 mark. GBP/USD Climbs Unevenly Toward 1.3030 The Pound Sterling (GBP) versus the US Dollar (USD) is expected to edge higher in an uneven fashion, ranging between 1.2955 and 1.3030, per UOB Group. After dipping to 1.2925 last week, GBP/USD is gaining traction near 1.2980, buoyed by a weaker USD and cautious optimism. However, the Fed’s decision and potential US economic slowdown fears could cap its ascent, making for a bumpy ride. WTI Crude Oil Turns Bearish Below $67.00 WTI crude oil prices are tilting bearish at the European opening, slipping below $67.00 per barrel from a recent high of $68.34. This downturn follows a volatile stretch, with prices retreating from a two-week peak amid easing Middle East tensions and a stronger USD. OPEC+ plans to ramp up production from April add further downward pressure, though China’s demand outlook offers a faint glimmer of support. Broader Market Context Markets are on tenterhooks as the Fed’s rate decision looms large. EUR/USD’s choppy dance reflects USD uncertainty, while gold holds firm near record territory, signaling safe-haven demand. GBP/USD’s uneven climb contrasts with WTI’s bearish slide, highlighting a split between risk assets and commodities. With the USD Index (DXY) testing 103.70 and tariff talks simmering, the interplay of Fed guidance and global risk sentiment will steer the next wave. Ready to trade these market moves? Create an account now and stay ahead of the curve!

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Publication date:

2025-03-19 09:12:31 (GMT)

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