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Global markets reflect widening central bank divergence as policy expectations drive currency volatility. The Australian Dollar surges to fresh multi-year highs following a hawkish signal from the RBA, while strong US Nonfarm Payrolls data reinforces Dollar resilience. Meanwhile, the Japanese Yen remains pressured below key technical levels, UK growth concerns fuel March rate cut bets, and crude oil stays capped under $65.00 as rising US inventories weigh on prices.
The British Pound remains under pressure as markets anticipate weak UK GDP data, reinforcing expectations for a potential Bank of England rate cut in March. Slowing economic momentum is weighing on Sterling sentiment despite broader FX volatility driven by global policy divergence.
Geopolitical Risks: Ongoing global uncertainty continues to dampen UK growth prospects.
US Economic Data: Strong US NFP data supports the Dollar, limiting GBP upside.
FOMC Outcome: Firm US labor conditions reduce near-term Fed easing expectations.
Trade Policy: External demand softness adds to UK economic fragility.
Monetary Policy: Rising bets on a March BoE rate cut pressure Sterling.
Trend: Bearish bias.
Resistance: 1.2600
Support: 1.2450
Forecast: GBP may remain vulnerable if GDP confirms economic slowdown.
Market Sentiment: Cautiously bearish.
Catalysts: UK GDP release, BoE commentary, US data flow.
AUD/USD climbs to fresh three-year highs as the Reserve Bank of Australia signals a hawkish stance, reinforcing expectations that rates may remain elevated for longer. The move highlights widening policy divergence versus other major central banks.
Geopolitical Risks: Stable regional conditions support risk-sensitive currencies.
US Economic Data: Strong US NFP caps aggressive upside momentum.
FOMC Outcome: Reduced Fed cut expectations limit USD downside.
Trade Policy: China-linked demand outlook supports the Aussie.
Monetary Policy: Hawkish RBA tone drives yield support for AUD.
Trend: Strong bullish momentum.
Resistance: 0.7250
Support: 0.7050
Forecast: Further gains possible while RBA remains hawkish.
Market Sentiment: Bullish.
Catalysts: RBA commentary, US inflation data, China macro updates.
USD/JPY approaches its 200-day EMA while remaining capped below the 153.00 level, with technical pressure building as sellers retain near-term control.
Geopolitical Risks: Safe-haven demand intermittently supports the Yen.
US Economic Data: Strong NFP supports US yields, limiting deeper declines.
FOMC Outcome: Slower Fed easing expectations underpin USD strength.
Trade Policy: Regional stability keeps flows balanced.
Monetary Policy: Policy divergence between Fed and BoJ continues to shape volatility.
Trend: Bearish below 153.00.
Resistance: 153.00
Support: 150.80
Forecast: Break below the 200-day EMA could extend downside momentum.
Market Sentiment: Cautiously bearish.
Catalysts: US yield movement, BoJ commentary, risk sentiment shifts.
WTI remains capped below $65.00 as rising US crude inventories weigh on supply-demand balance expectations despite broader geopolitical uncertainty.
Geopolitical Risks: Ongoing tensions provide limited underlying support.
US Economic Data: Strong NFP supports demand outlook but fails to offset inventory builds.
FOMC Outcome: Higher-for-longer rates may temper demand projections.
Trade Policy: Global demand concerns persist.
Monetary Policy: Tight financial conditions cap upside potential.
Trend: Sideways to mildly bearish.
Resistance: $65.00
Support: $62.80
Forecast: Oil may remain range-bound unless supply dynamics shift materially.
Market Sentiment: Neutral with slight downside bias.
Catalysts: Inventory data, geopolitical headlines, global demand outlook.
USD/CAD holds above 1.3600 after strong US NFP data boosted the Dollar, while the Canadian Dollar softens despite steady energy prices.
Geopolitical Risks: Risk stability limits aggressive CAD buying.
US Economic Data: Strong NFP reinforces USD strength.
FOMC Outcome: Slower Fed rate cut pace supports the pair.
Trade Policy: External trade uncertainty weighs on CAD sentiment.
Monetary Policy: Diverging Fed-BoC expectations favor USD.
Trend: Mild bullish bias.
Resistance: 1.3720
Support: 1.3550
Forecast: USD/CAD may remain supported while US data outperforms.
Market Sentiment: Cautiously bullish.
Catalysts: US inflation data, oil price movement, BoC guidance.
With central banks moving at different speeds, policy divergence remains the dominant market theme. Hawkish tones from Australia contrast with rate cut expectations in the UK, while firm US labor data underpins the Dollar’s broader strength. As traders assess incoming macro data and evolving monetary guidance, FX and commodity markets are likely to stay sensitive to shifting rate expectations in the sessions ahead.
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