- Tuesday's session on Asian markets saw relatively small declines in most stock indexes. Weaker sentiment is seen primarily in China, where the CH50Cash lost nearly 0.65%.
- The not-so-optimistic mood in this region of the world means that contracts based on European and U.S. indices are now also under slight downward pressure. The DE40 contract is now losing 0.11%, while the US100 is down 0.3%.
- The major currency pairs are trading with little deviation at the start of today's session. Trump is pushing through tariffs on steel and aluminum, and this has remained a key theme in the market over the past two days. The new 25% tariffs cancel all existing agreements and will go into effect on March 12. However, the market assumes that there is a possibility of some concessions in negotiations between the countries by then, so the forex market's reaction to the news was relatively quiet.
- The Australian dollar, however, was a certain exception to this. Australian Prime Minister Albanese said that Trump was considering exempting Australia from tariff changes with respect to steel, but the market a few minutes later was heavily surprised by Trump's words, which stated that there would be no exceptions in these decisions. For this reason, AUD is seeing a bit more volatility today.
- Gold resumes its upward momentum and today reached a record high above $2940, rising more than 1%. At the moment, however, the scale of these rallies has already been limited to 0.5%.
- In the coming day, all of the market's attention will be directed to Trump's possible new comments and Fed Chairman Powell's testimony before Congress. As for Powell, we should get excerpts of his speech moments before the actual start of testimony at 3pm GMT.
- NATGAS is gaining 1.5% today and also extends the rebound after the eastern part of the US continues to struggle with slightly cooler-than-average temperatures, leading to higher-than-usual demand for gas-fired power generation.
Heatmap of the volatility currently observed in the FX market. Source: xStation
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
