Gold (XAU) price retreats as the week begins, down 0.70% and falls below the $2,900 figure as investors’ fears of a recession in the United States (US) grow amid controversial trade policies implemented by the US President Donald Trump.
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The USD/CAD pair trades with mild losses around 1.4435, snapping the two-day winning streak during the late American session on Monday.
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The flash reading for this is here:
Japanese GDP Final for Q4:
The revised figures are slightly down on the flash readings but still indicator a decent performance for the Japanese economy.
The deflator, an indication of inflation, comes in at 2.9% y/y (prelim was +2.8%).
The Bank of Japan is widely expected to be on hold at its meeting next week.
This article was written by Eamonn Sheridan at www.forexlive.com.
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Japan Trade Minister Muto:
Yen is losing some ground, USD/JPY has bounced from lows around 146.80 to above 147.00 as I update.
This article was written by Eamonn Sheridan at www.forexlive.com.
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![Pound Sterling Price News and Forecast: GBP/USD retreats but sellers could remain hesitant [Video]](https://i0.wp.com/mmfx.vvip-members.com/wp-content/uploads/2025/03/pound-sterling-price-news-and-forecast-gbp-usd-retreats-but-sellers-could-remain-hesitant-video.png?resize=400%2C250&ssl=1)
After rising more than 2.5% in the previous week, GBP/USD corrects lower and trades below 1.2900 in the European session on Monday.
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more to come
The preliminary showing for Japan’s Q4 GDP was solid:
Moreover, Japan’s economic data more generally has been improving, which has given that Bank of Japan more confidence that’s its on the right (rate hike) path. This has been a tailwind for yen.
This article was written by Eamonn Sheridan at www.forexlive.com.
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The Speaker of the House, at present Mike Johnson, is where the buck stops with trying to get the Continuing Resolution (this is the stopgap funding bill to avert a government shutdown, usually abbreviated in this context to CR) passed.
Johnson, though, has a wafer-thin majority of Republicans in the House. And many Republicans want the CR to include measures to curtail government debt, instead of it growing at a breakneck pace. Hence, their support is wavering.
Trump has been enlisted in efforts to put the pressure on to support the debt-growth bill. Government funding runs out on March 14. The pressure is indeed on.
This article was written by Eamonn Sheridan at www.forexlive.com.
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The EUR is steady on the day, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
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Last week Target highlighted softness from the US consumer and now it’s Delta Airlines.
The company cut its first quarter revenue growth forecast to 3% to 4% from its earlier forecast of 7% to 9% y/y. The company sees earnings of 30-50 cents from the earlier guide of 70-cents to $1.
“The outlook has been impacted by the recent reduction in consumer and corporate confidence caused by increased macro uncertainty, driving softness in Domestic demand, ” the company said in a presentation slated for tomorrow but published today.
Shares are down 16% after hours following a 5.5% decline in regular trading.
Air travel is a good indication of consumer and business spending as it’s one of the first things to be cut when economic uncertainty hits.
For shareholders, it’s been a wild ride in the past few months as shares nearly doubled since August before falling by almost 40%.
This article was written by Adam Button at www.forexlive.com.
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The Canadian Dollar (CAD) shed further ground on Monday, extending last Friday’s late-week declines and shedding another six-tenths one percent against the US Dollar.
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Dogecoin is making waves in the crypto world once
again, but not for bullish reasons. A staggering 360 million DOGE, valued at
nearly $62.7 million, was recently moved to Binance, igniting widespread
speculation among traders.
However, the massive transaction has yet to impact the price of the meme token. At the time of this publication, DOGE
traded at $0.1562, representing an 8% and 23% decline in the past day and week,
respectively.
Temporary Adjustment or Major Sell-Off?
Historically, such sizable transfers have often
preceded major price swings, leaving market participants questioning whether a
large-scale dump is imminent or if this is a calculated repositioning by a
whale.
As DOGE struggles at its lowest price in five months,
the market remains on high alert. Meme coins are facing relentless pressure,
with Dogecoin plunging below $0.20 for the first time since November 2024.
The significant deposit on Binance has fueled concerns
about increased selling pressure, which could drive the price even lower.
According to Whale Alert, movements of this scale often signal a shift in
market dynamics.
However, not everyone sees this as a bearish signal.
Some argue that whales typically avoid selling at market lows, suggesting this
could be part of a broader accumulation strategy.
With DOGE sitting at five-month lows, a potential
rebound remains a possibility. The market’s reaction in the coming days will
determine whether this movement was a precursor to a larger sell-off or a
tactical play by a major investor.
Meme Coin Market Faces Turmoil
Dogecoin’s struggles mirror a broader downturn in meme
coins. Shiba Inu (SHIB) has also suffered heavy losses, down more than 10% in
the weekly chart. DOGE has lost more than 20% of its value in just a week, with
open interest reportedly dropping to its lowest level since October.
Economic uncertainty, including tariff concerns and
the Federal Reserve’s stance on interest rates, has dampened enthusiasm for
speculative crypto investments. Despite the ongoing sell-off, some traders believe
meme coins could be nearing a bottom. Historically, extreme fear in the market
has often preceded sharp reversals.
If Bitcoin and major altcoins regain strength, DOGE
and SHIB may follow suit. However, if Bitcoin remains stagnant below $85,000,
meme coins could continue their decline.
This article was written by Jared Kirui at www.financemagnates.com.
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Tesla’s first-quarter delivery outlook is under renewed scrutiny, with UBS revising its forecast down to 367,000 units, a sharp cut from its previous 437,000 estimate issued after Q4 2024 results. The new projection reflects a 5% year-over-year decline and a steep 26% drop quarter-over-quarter, coming in 13% below Visible Alpha consensus expectations.
While a late-quarter push—potentially driven by promotional efforts—could provide some upside, UBS points to softer demand signals as a key concern. Evidence Lab data indicates short wait times of around two weeks for the Model 3 and Model Y in key markets, suggesting that Tesla is not struggling with production bottlenecks but rather a demand slowdown.
These signs of cooling interest add to a growing debate over Tesla’s near-term growth trajectory. Investors will be closely watching for any last-minute sales incentives or pricing adjustments that could help the automaker salvage its quarter.
***
Musk is distracted by his government job, both SpaceX and Tesla are suffering:
This article was written by Eamonn Sheridan at www.forexlive.com.
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