Pfizer: ⬇️ Sell – Pfizer broke support level 25.20 – Likely to fall to support level 24.70 Pfizer recently broke the pivotal support level 25.20 (lower border of the sideways price range inside which the price has been moving from November). The.

• Trump: We can talk about China tariffs
• Canada January retail sales -0.6% vs -0.4% expected
• Fed's Williams: Current modestly-restrictive policy is 'entirely appropriate'
• More from Fed's Williams: We're not in a hurry to make next mon policy move
• Eurozone March consumer confidence -14.5 vs -13.0 expected
• Fed's Goolsbee: Business contacts are waiting on capital spending in light of tariffs
• What FedEx earnings reveal about the state of the economy
• ECB's Stournaras: All available information points to another rate cut in April
• Fed's Waller: I preferred to continue current pace of balance sheet runoff
• King Charles made an offer to Trump to join the Commonwealth, hoping to cool tensions
• Canada February new housing price index 0.1% versus -0.1% last month
• Trump unswayed at efforts to craft tariff deal - report
• Bakers Hughes oil rig count -1 at 486

Markets:

• WTI crude oil up 20-cents to $68.27
• US 10-year yields up 1.7 bps to 4.25%
• Gold down $22 to $3021
• S&P 500 up 0.1%, Nasdaq up 0.5%
• USD leads, AUD lags

It was a strange day in markets and I suspect that the quad witching had something to do with it. Equities were beaten up early but came back to life when Trump said there was 'flexibility' on tariffs ahead of April 2 and that he was going to talk with Xi. Prior to that the US dollar was broadly strong but it gave some back afterwards.

Aside from that, it looked like flows were in charge. The euro and pound bottomed out right at the European close in a flurry of USD strength. That partly unwound later but still left the dollar solidly higher on the day in a reversal of the recent trend. The euro touched 1.0798 from a high of 1.0861 in Europe. It bounced from the figure to end at 1.0815.

The Canadian dollar was in focus with retail sales data released. USD/CAD rose after the data as it modestly missed estimates and hit 1.4375 but the advance reading for February sales was better than feared and that move unwound along with the better risk mood and a bounce in oil prices.

Gold hit an air pocket shortly after the US equity open in a quick fall to $3000 from $3035. Bids at the figure held though and that started a slow rebounded to $3023 last.

Overall, it wasn't a big day for news or market moves. The comments from Fed officials highlighted the uncertainty on the outlook and a willingness to wait on economic data. That was totally in-line with what Powell said on Wednesday.

Have a great weekend.

I’ve been investing for a large part of my life, and I’ve never seen negative sentiment like this before. Not even during the most recent two bear markets. First for the Covid-19 crash and later when the Fed went through a nasty interest rate hiking cycle to deal with inflation, which was in my opinion,…

The post Recession: Let’s talk about sentiment… appeared first on eToro.

The AUDUSD pair is strengthening, with the price currently at 0.6292. Discover more in our analysis for 14 March 2025.

AUDUSD forecast: key trading points

• The RBA reiterated a cautious approach to monetary policy, without signalling rate cuts
• Australian inflation expectations declined to 3.6% in March
• AUDUSD forecast for 14 March 2025: 0.6235

Fundamental analysis

The AUDUSD rate has been consolidating between 0.6330 and 0.6265 since the beginning of the week. Today, the currency pair is rising but remains under pressure after the US imposed 25% tariffs on steel and aluminium imports. Despite trade risks, the Australian Prime Minister ruled out retaliatory measures, saying that the government will continue to seek exemptions.

Meanwhile, Australia’s Q4 GDP exceeded forecasts, accelerating for the first time in more than a year. Against this backdrop, the RBA reiterated a cautious approach to monetary policy in its latest minutes, without signalling further rate cuts. Australian inflation expectations fell to 3.6% in March from 4.6% in February, indicating easing price pressures.

The AUDUSD forecast for today suggests that positive economic data from Australia could restrain a further price decline.

AUDUSD technical analysis

The AUDUSD pair remains under pressure, with a Triangle pattern currently forming. The AUDUSD forecast suggests a rebound from the 0.6310 resistance level, followed by a decline to 0.6235.

Technical indicators confirm the bearish scenario, with the intersection of the EMA lines signalling a downtrend and the Stochastic Oscillator remaining below the trendline, indicating a potential decline. A breakout below the Triangle’s lower boundary will confirm a bearish movement, with the price consolidating below 0.6265.

Summary

The AUDUSD rate remains under pressure due to trade risks and the Federal Reserve’s policy despite strong Australian economic data. The AUDUSD technical analysis indicates the potential for a bearish scenario, with a breakout below the 0.6265 level building up a downward momentum towards 0.6235.