The market experienced considerable volatility at the onset of the European trading session on Wednesday (March 26, 2025), with expectations of heightened fluctuations in the upcoming evening session. The release of durable goods sales data from the United States at 19:30 WIB is anticipated to significantly influence market movements.
Trading Central forecasts a decrease of 1.2% month-on-month in durable goods sales for February, a drop from the 3.1% growth reported in January.
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GOLD
The price of Gold (XAUUSD) briefly ascended to $3,031.90 per troy ounce before experiencing a pullback. Market participants are awaiting President Donald Trump’s reciprocal policy set to take effect on April 2, which involves raising import tariffs for countries that elevate their tariffs on U.S. goods.
The uncertain implementation of this policy keeps Gold’s price in a volatile position. Should the durable goods data come in lower than the forecast, there exists a possibility that Gold will receive a positive sentiment boost.
OIL
The price of Oil (CLS10) rose to $69.82 per barrel during the early European trading session. The increase in price followed Trump’s warning regarding potential hikes in import tariffs for nations purchasing oil from Venezuela.
The American oil stock data release at 21:30 WIB may serve as the next market mover. If the data indicates a decline in stock, Oil could gather additional positive sentiment.
EURUSD
EURUSD traded within the range of 1.07778 – 1.08028 at the start of the European trading session after dropping for five consecutive days, totaling over 155 pips in losses.
Given this sharp decrease, if the U.S. economic data is reported tonight as worse than the forecast, there might be a possibility of short covering, which could result in a positive sentiment shift for EURUSD.
GBPUSD
GBPUSD fell to 1.28861 at the beginning of the European session following the release of lower inflation data from the UK. Compared to Tuesday’s closing, GBPUSD dropped 552 points (55.2 pips).
The decline in inflation provides greater leeway for the Bank of England to consider reducing interest rates, subsequently generating negative sentiment for GBPUSD amid profit taking given its position near a four-month high.
This sentiment will likely continue to influence GBPUSD trading this evening.
USDJPY
USDJPY retracted from its gains after reaching a daily high of 150.621 earlier this morning.
This movement indicates that market players are anticipating clearer guidance on the reciprocal policy from President Trump. If the durable goods sales data from the U.S. is released lower than the forecast, USDJPY might face downward pressure.
Nasdaq
Nasdaq slipped during the early European trading session, registering a daily low of 20,429. This decline follows a pronounced rise over the past three days.
Given this context, there is potential for profit taking if the U.S. economic data released tonight falls short of the forecast.
