Psychology for major markets Mar 4
Risk atmosphere Sour
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.
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. We are also hearing verbal intervention from Japanese FM, which helped supporting JPY.
EUR/GBP – Little changed as the market's spotlight isn't here.
AUD/USD – The Aussie is dragged lower on broader sour risk sentiment but recovering precious metal seems to have allow most losses to be recouped.
Equities – Broader risk atmosphere is sour since U.S. striking Iran. Major equity indexes are in the red and see little reprieve.