France’s HCOB Services PMI reported a score of 46.6 for March, surpassing the forecast of 46.3. This figure indicates a contraction in the services sector, as a PMI below 50 suggests a decline in activity.
The EUR/USD currency pair remained stable near 1.0850 due to mixed PMI data from Germany and the EU. GBP/USD also held near 1.2950, reflecting stronger business activity in the UK’s private sector.
Gold prices stabilised around $3,020 as traders reacted to tariff developments. Avalanche’s price increased by 7%, indicative of bullish sentiment, with metrics showing positive trends in trading behaviour.
France Services Sector Performance
These PMI figures paint a clearer picture of economic conditions. While the services sector in France remained in contraction territory, it performed slightly better than anticipated. That said, any figure below 50 still reflects declining activity, so concerns about the sector remain.
In the currency markets, we observed relative stability. The euro’s exchange rate against the dollar hovered around 1.0850, with no aggressive movements despite mixed PMI readings from Germany and the wider EU. Meanwhile, sterling maintained strength, trading near 1.2950, supported by encouraging signs from the UK’s private sector.
Gold prices found equilibrium around $3,020. Recent tariff discussions influenced trader sentiment, yet there was no rapid shift in positioning. Precious metals tend to act as a hedge during economic uncertainty, so we will continue to monitor how policy decisions impact demand.
Digital Asset Market Trends
Elsewhere, the digital asset market showed renewed appetite for risk. Avalanche recorded a 7% increase, reflecting optimism among participants. Momentum indicators pointed to stronger trading activity, lending support to this trend.
