Greece’s Consumer Price Index (CPI) decreased to 2.5% year-on-year in February, down from 2.7% in January. This indicates a slight cooling in price growth over the month.
On the Eurozone front, the Sentix Investor Confidence improved to -2.9 in March from February’s -12.7, providing support for the EUR/USD pair, which traded around 1.0850. Meanwhile, GBP/USD remained above 1.2900, but market uncertainty stalled its momentum.
Gold Price Challenges
Gold prices faced challenges, trading near $2,900 amid a lack of significant data releases. Market focus is shifting towards forthcoming trade developments and inflation figures, as both factors are expected to drive volatility.
Greece’s inflation rate has eased slightly, falling to 2.5% in February from 2.7% the previous month. This hints at a modest slowdown in price increases, though the overall effect on broader expectations remains limited for now. For those monitoring the euro, this may play a role in shaping sentiment towards future policy decisions.
Within the Eurozone, investor confidence improved noticeably in March, with the Sentix index climbing to -2.9 from the previous month’s -12.7. Such a shift suggests that investor pessimism is beginning to ease. The euro-dollar pair responded positively, maintaining levels around 1.0850. Compared to that, sterling held above 1.2900 but found itself struggling for clear direction, reflecting ongoing hesitation among traders.
Market Focus Shifts
Gold found itself facing pressure, hovering near $2,900 as it grappled with diminished catalysts from the economic calendar. Without fresh data to drive conviction, price movements lacked decisive momentum. Instead, attention is gradually shifting towards upcoming trade updates and inflation readings. These will likely set the pace for volatility in the coming weeks, particularly as traders assess their impact on broader trends.
