Psychology for major markets March 17th

EUR/USD – EUR/USD edging above 1.09 on general USD weakness with focus on US data

USD/JPY – USD/JPY dropping back after sortie above 149 awaiting equity weakness to trigger a new downmove

EUR/GBP – EUR/GBP slightly above 0.84 but fairly steady ahead of BoE meeting this week

AUD/USD – Held above the main support area below 0.62 and has scope to advance to test 0.64 if regional risk sentiment improves

Equities – US market struggling at the highs due to high valuations, declining growth expectations and tariff concerns. European markets benefiting from expectations of increased defence spending and hopes of an end to the Ukraine war, but worries around tariffs remain.