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ForexLive European FX news wrap: Germany agrees on debt deal, gold clips $3,000 level
ForexLive European FX news wrap: Germany agrees on debt deal, gold clips $3,000 level
Forex news from the European morning session on Mar 14, 2025
Session wrap
Wrap Europe
US Dollar set to close off week on the back foot after Michigan surprise reading
US Dollar set to close off week on the back foot after Michigan surprise reading
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, dips lower again on Friday after a few headlines on tariffs and the US spending bill. The index, which has been limited below the 104.00
DollarIndex
Macroeconomics
UnitedStates
SEO
Germany's Greens party said to be satisfied with agreement on debt deal
Germany's Greens party said to be satisfied with agreement on debt deal
Reuters reports, citing a party source on the matter
Politics
EUR
Gold eases off from $3,000 on profit-taking
Gold eases off from $3,000 on profit-taking
The precious metal pares gains on the day
JPY is under a downward pressure – BBH
JPY is under a downward pressure – BBH
Japanese Yen (JPY) is under broad downside pressure in line with a modest recovery in equity markets, BBH FX analysts report.
USDJPY
Technical Analysis
Banks
GBP trades lower vs USD and EUR – BBH
GBP trades lower vs USD and EUR – BBH
Pound Sterling (GBP) is down versus US Dollar (USD) and Euro (EUR).
GBPUSD
EURGBP
Technical Analysis
Banks
Gold prices finally break above the recent range – Société Générale
Gold prices finally break above the recent range – Société Générale
Gold has broken out above the upper limit of the range within which it consolidated since February denoting possibility of extension in uptrend, Société Générale's FX analysts note.
Gold
XAUUSD
Technical Analysis
Banks
Volatile week for the financial markets – Danske Bank
Volatile week for the financial markets – Danske Bank
It has again been a volatile week in the financial markets. 10Y Bunds almost reached 2.95% during the week but has declined and are trading around 2.85%. 10Y US Treasuries has also been trading in a wide range between 4.15% and 4.35% and is currently at 4.26%, Danske Bank's FX analysts Kristoffer Kjær Lomholt and Filip Andersson report.
SP500
Europe
Banks
USD/CNH: Any advance is unlikely to reach 7.2650 – UOB Group
USD/CNH: Any advance is unlikely to reach 7.2650 – UOB Group
US Dollar (USD) is expected to edge higher vs Chinese Yuan (CNH); any advance is unlikely to reach 7.2650.
USDCNH
Technical Analysis
Banks
USD/CNY is trading lower, EUR/CNY – higher – Danske Bank
USD/CNY is trading lower, EUR/CNY – higher – Danske Bank
The CNY has gained versus the USD lately, but it is more a story about USD weakening than CNY strength.
USDCNY
PBOC
Technical Analysis
Banks
Gold hits $3,000 for the first time
Gold hits $3,000 for the first time
The precious metal shines brightly amid all the political and market chaos
USD/JPY: Expected to trade in a range between 146.50 and 149.50 – UOB Group
USD/JPY: Expected to trade in a range between 146.50 and 149.50 – UOB Group
US Dollar (USD) is expected to trade in a range vs Japanese Yen (JPY), most likely between 147.45 and 148.70.
USDJPY
Technical Analysis
Banks
Gold hits fresh record high – ING
Gold hits fresh record high – ING
Gold reached a fresh record high, trading just shy of US$2,990/oz, following modest US inflation numbers supporting the case for the US Federal Reserve to ease monetary policy, ING's commodity experts Ewa Manthey and Warren Patterson note.
Gold
Technical Analysis
Banks
Kremlin: Both the US and Russia understand there's a need for a Trump-Putin call
Kremlin: Both the US and Russia understand there's a need for a Trump-Putin call
The latest headlines crossing the wires via Reuters, citing the Kremlin saying that both the US and Russia understand there's a need for a Trump-Putin call.
RussianFederation
UnitedStates
Politics
Gold
US natural gas storage falls more than expected – ING
US natural gas storage falls more than expected – ING
US natural gas storage fell more than expected over the last week, ING's commodity experts Ewa Manthey and Warren Patterson note.
Gas
Energy
Banks
Commodities
NZD/USD: Expected to trade between 0.5675 and 0.5725 – UOB Group
NZD/USD: Expected to trade between 0.5675 and 0.5725 – UOB Group
New Zealand Dollar (NZD) is expected to trade between 0.5675 and 0.5725 vs US Dollar (USD).
NZDUSD
Technical Analysis
Banks
Oil: Surplus environment – ING
Oil: Surplus environment – ING
Oil prices couldn’t escape a broader risk-off move amid intense selling of US equities and global growth concerns.
Oil
Technical Analysis
Banks
Kremlin says both US and Russia understand there's a need for a Trump-Putin call
Kremlin says both US and Russia understand there's a need for a Trump-Putin call
Remarks by the Kremlin in the aftermath of US envoy Witkoff's visit to Moscow
Politics
Silver price today: Silver rises, according to FXStreet data
Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Friday, according to FXStreet data.
Silver
Commodities
Metals
AUD/USD: Likely to trade in a 0.6260/0.6315 range – UOB Group
AUD/USD: Likely to trade in a 0.6260/0.6315 range – UOB Group
Australian Dollar (AUD) is likely to trade in a 0.6260/0.6315 range vs US Dollar (USD).
AUDUSD
Technical Analysis
Banks
China February M2 money supply +7.0% vs +7.0% y/y expected
China February M2 money supply +7.0% vs +7.0% y/y expected
Latest November credit data for February 2025 has been released
Palladium price today: Rare metals mixed at the start of the European session
Palladium price today: Rare metals mixed at the start of the European session
Platinum Group Metals (PGMs) trade mixed at the beginning of Friday, according to FXStreet data.
Palladium
Platinum
Commodities
Reminder: Germany's spending plan is not a done deal just yet
Reminder: Germany's spending plan is not a done deal just yet
Merz struggled to convince in parliament yesterday
Politics
EUR
Gold retreats from earlier all-time high at $3,000
Gold retreats from earlier all-time high at $3,000
Gold’s price (XAU/USD) has hit a new all-time high at 3,004 earlier, before falling back below $3,000, still registering a weekly gain of over 2.5% for now at the time of writing on Friday. The additional inflow and demand for Bullion came after United
Gold
Commodities
UnitedStates
SEO
SEK: Krona remains expensive – ING
SEK: Krona remains expensive – ING
Our model returns a short-term fair value for EUR/SEK around 11.25-11.30.
USDSEK
EURSEK
Banks
Sweden
Technical Analysis
Crude Oil price today: WTI price bullish at European opening
Crude Oil price today: WTI price bullish at European opening
West Texas Intermediate (WTI) Oil price advances on Friday, early in the European session.
WTI
Oil
Commodities
Bullish
USD: Focus on consumer confidence – ING
USD: Focus on consumer confidence – ING
The Dollar Index (DXY) is back above 104 again as European currencies soften a little.
DollarIndex
Technical Analysis
Banks
GBP/USD: Likely to trade in a 1.2900/1.2975 range – UOB Group
GBP/USD: Likely to trade in a 1.2900/1.2975 range – UOB Group
Pound Sterling (GBP) is likely to trade in a 1.2900/1.2975 range.
GBPUSD
Technical Analysis
Banks
JPY: Wage requests not quite as high as expected – ING
JPY: Wage requests not quite as high as expected – ING
USD/JPY is edging higher in early Europe as Japan's largest labour union, Rengo, agreed a 5.46% wage increase for the coming year - perhaps a little lower than early speculation of 6%, ING's FX analyst Chris Turner notes.
USDJPY
Technical Analysis
Banks
EUR/USD can edge below 1.0820 but unlikely to reach 1.0780 – UOB Group
EUR/USD can edge below 1.0820 but unlikely to reach 1.0780 – UOB Group
Euro (EUR) is under mild downward pressure vs US Dollar (USD); it could edge below 1.0820 but is unlikely to reach 1.0780.
EURUSD
Technical Analysis
Banks
EUR: Some modest reappraisal of the euro – ING
EUR: Some modest reappraisal of the euro – ING
The FX options market had been warning about last week's upside spike in EUR/USD.
EURUSD
Technical Analysis
Banks
Spain February final CPI +3.0% vs +3.0% y/y prelim
Spain February final CPI +3.0% vs +3.0% y/y prelim
Latest data released by INE - 14 March 2025
Silver Price Forecast: XAG/USD remains solid near $34.00 amid increased safe-haven demand
Silver Price Forecast: XAG/USD remains solid near $34.00 amid increased safe-haven demand
Silver price (XAG/USD) continues its upward momentum for the fourth consecutive day, trading around $33.90 per troy ounce during European trading hours on Friday.
Silver
XAGUSD
Commodities
Macroeconomics
Metals
France February final CPI +0.8% vs +0.8% y/y prelim
France February final CPI +0.8% vs +0.8% y/y prelim
Latest data released by INSEE - 14 March 2025