Monday 03/03/2025

John Hall • March 3, 2025

Daily Update 03/03/2025

Key Headline:

  • EUR/USD experiences a sharp weekly downturn.
  • Key market drivers this week: US job data, ECB decisions, and ongoing tariff developments.


Recap

Friday saw significant reversals in GBP/USD and EUR/USD, potentially signalling the end of their recent upward trend. EUR/USD faced the biggest setback after US-Ukraine negotiations collapsed, with tensions flaring between Trump and Zelensky, putting the proposed mineral deal on hold. However, Zelensky later expressed openness to a future meeting, suggesting he would consider a private White House invitation from Trump.


Today’s Rates

Today's Interbank Rates at 09:42 am against GBP movement.

GBP>EUR – 1.2111

GBP>USD – 1.2617

EUR>GBP – 0.8255

EUR>USD – 1.0415

GBP>CAD – 1.8209

GBP>AUD – 2.0286

GBP>SEK – 13.502

GBP>AED – 4.6323

GBP>HKD – 9.8100

GBP>ZAR – 23.548

GBP>CHF – 1.1366

GBP>PLN – 5.0670

Today’s Key Takeaways

  • Macron & Starmer Push for Ukraine Truce: Reports suggest the leaders are working on a one-month ceasefire plan, giving the EUR an early boost.
  • EUR CPI in Focus: Inflation data from Spain and Germany came in lower than expected, raising the possibility of a softer eurozone CPI print.
  • US Data Watch: ISM manufacturing figures are due this afternoon, with markets closely monitoring any signs of economic slowdown.
  • Tariff Uncertainty: Markets await clarity on whether the US will proceed with proposed tariffs on Canada, Mexico, and China.


Major Events This Week:

  • US Jobs Report: February’s employment data will be key in shaping USD momentum after recent weakness.
  • ECB Decision: A 0.25% rate cut is fully priced in, but Christine Lagarde’s statement on future easing will drive EUR sentiment.


03rd March 2025


This document has been prepared solely for information and is not intended as an Inducement concerning the purchase or sale of any financial instrument. By its nature market analysis represents the personal view of the author and no warranty can be, or is, offered as to the accuracy of any such analysis, or that predictions provided in any such analysis will prove to be correct. Should you rely on any analysis, information, or report provided as part of the Service it does so entirely at its own risk, and Frank eXchange Limited accepts no responsibility or liability for any loss or damage you may suffer as a result. Information and opinions have been obtained from sources believed to be reliable, but no representation is made as to their accuracy. No copy of this document can be taken without prior written permission.

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