Psychology for major markets Mar 5
Indecisive Sentiment Led to Choppy Trading
EUR/USD – The Euro is still trading lower as the USD gained strongly on haven bids. The renewed pressure is seeing EUR/USD quickly approaching the next figure. However, choppy trading is inevitable on the ebbs and flows of alarming headlines.
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 – Little changed as the market's spotlight isn't here.
AUD/USD – The Aussie is dragged lower on broader sour risk sentiment. The impersistent strength in precious metal is also limiting any rebound for the Aussie.
Equities & Others – Broader risk atmosphere is sour since U.S. striking Iran and trading throughout the week is choppy. The geopolitical uncertainty will keep major positioning on their toes. Precious metal, while favored, are competing against the haven USD bids.