Psychology for major markets March 14th

EUR/USD – EUR/USD gaining above 1.09 on news that the Greens have agreed to the German government spending plan.

USD/JPY – USD/JPY dipping after recent recovery on hawkish BoJ and softer equities. Downside still favoured

EUR/GBP – EUR/GBP moving above 0.84 on EUR strength and weak UK GDP data. Risks remain to the upside especially if equity markets slip back.

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

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.