Daily Global Market Update – 20th March, 2025

EUR/USD Stalls Below 1.1000The Euro (EUR) against the US Dollar (USD) is struggling to break decisively above 1.1000, as noted by ING analysts. Trading around 1.0940 in the European session, the pair is facing resistance despite earlier strength that saw it touch a five-month high of 1.0967. A stabilizing USD, post-Fed’s decision to hold rates at 4.25%-4.50%, and mixed ECB commentary are keeping EUR/USD in a consolidative mode, with traders eyeing US data for direction.

Gold Bulls Hold Near Record HighsGold (XAU/USD) bulls are retaining control, trading near its all-time peak of $3,056 at around $3,048 during European hours. A flight to safety, fueled by persistent trade tensions and tariff uncertainties, is underpinning the precious metal’s strength. Even with a modest USD uptick (DXY at 103.80), gold’s safe-haven appeal remains intact, keeping it poised for potential new highs as markets digest the Fed’s steady stance.

NZD/USD Slips to Near 0.5750The New Zealand Dollar (NZD) versus the US Dollar (USD) is extending its losing streak, drifting near 0.5750 despite robust Q4 GDP growth in New Zealand. The Kiwi’s slide to a three-week low reflects a broader risk-off sentiment and a firmer USD, overshadowing positive domestic fundamentals. Technical indicators hint at further weakness, with support at 0.5730 in focus unless global risk appetite rebounds.

WTI Crude Oil Gains MomentumWTI crude oil prices are trending bullish at the European opening, rising to $67.50 per barrel from $67.20. This upward move is supported by a weaker USD and lingering geopolitical risks, despite easing Middle East tensions. OPEC+ plans to increase production from April loom as a ceiling, but optimism around China’s demand and US-Canada trade talks are driving WTI’s current strength, with traders watching inventory data closely.

Broader Market ContextMarkets are balancing the Fed’s decision to hold rates steady with ongoing global uncertainties. EUR/USD and NZD/USD are feeling the weight of a resilient USD, while gold shines near record levels as a safe-haven star. WTI crude oil’s bullish tilt reflects a mix of supply risks and demand hopes, contrasting with currency softness. As trade tensions simmer and risk sentiment fluctuates, the next wave depends on US economic releases and central bank cues. Ready to trade these market moves? Create an account now and stay ahead of the curve!