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March 21, 2025
FX Weekly Strategy: March 24th-28th
March 21, 2025 4:05 PM UTC
JPY still has potential for gains unless market sentiment improves
EUR may get some support from PMIs
US PMI, trade and confidence data has potential for more impact than usual
GBP may be vulnerable to CPI and fiscal update
AUD tone has weakened but big picture still looks positive
Preview: Due March 24 - U.S. March S&P PMIs - Manufacturing correct lower, Services to correct higher
March 21, 2025 1:28 PM UTC
We expect March’s S and P PMIs to show manufacturing slipping to 51.5 from February’s 52.7, which was the highest since June 2022, but services picking up to 53.0 from 51.0 in February, which was the weakest since November 2023.
Canada January Retail Sales - Slipping from strong December
March 21, 2025 12:43 PM UTC
Canada’s January retail sales with a 0.6% decline are slightly weaker than an advance estimate of -0.4% but need to be seen alongside a strong 2.6% increase in December. The advance estimate for February is for another decline, by 0.4%. Tariff concerns may be starting to weigh on Canadian consumer
Asia Open - Overnight Highlights
March 21, 2025 12:00 AM UTC
EMERGING ASIA
EM currencies perform individually against the USD as the global market remains choppy after round of European central banks decision. The biggest winners are IDR by 0.3%, followed by MYR 0.24%, PHP 0.13%, TWD 0.1% and INR 0.09%; while the largest losers are SGD 0.31%, CNH & KRW 0.29%,