Psychology for major markets Mar 3
Geopolitical tension continues
EUR/USD – The Euro is trading lower as the USD gained strongly on haven bids. The renewed pressure is seeing EUR/USD quickly approaching the next figure.
USD/JPY – The push and pull of haven bids shows USD getting the upper hand. JPY is losing the less against the USD within majors, suggesting strong risk aversion in the market.
EUR/GBP – Recouping partial overnight losses but the market's spotlight isn't here.
AUD/USD – The Aussie is dragged lower on broader sour risk sentiment and poor precious metal performance. It is at a previous support/resistance zone and could stage a minor bounce. However, the key relies on geopolitical development.
Equities – Broader risk atmosphere is sour after U.S. striking Iran. Major equity indexes, so as precious metals for market participants rush to haven.