Gold hasn’t been doing much in trading this week
Even with the ebb and flow in the dollar, gold has managed more sideways action if anything else in the market this week. Treasury yields retreated from the highs last week but has kept above 1.60%, so that still leaves some potential headwind for gold.

EUR/USD trades to session highs of 1.1795
The dollar and yen are the laggards on the day as risk sentiment is keeping firmer since Asian trading today, with European indices holding modest gains while US futures are also keeping a slight advance on the session.

Comments by Ifo economist, Klaus Wohlrabe
And with the virus situation worsening and carrying over to Q2, there is worry that the economic drag will continue for a few more months as the vaccine rollout is still at its infancy stage at this point in time.

Easy come, easy go
As we observed yesterday, the gains in futures during European trading may not amount to much and sentiment is still largely leaning towards being more cautious.

Forex news from the European morning session – 25 March 2021
Headlines:
Markets:
– AUD leads, JPY lags on the day
– European equities lower; S&P 500 futures up 0.1%

Fed chair Powell speaks in an interview on NPR’s Morning Edition
– As economy recovers and makes substantial progress towards Fed goals, we will roll back bond purchases
So far, nothing in there that he hasn’t already said before. It doesn’t look like the Fed will offer up more clues in the near-term until there is more

Latest data released by CBI – 25 March 2021
That suggests that as the vaccine rollout progresses and the economy reopens, consumer sentiment is expected to pick up down the road.

Bild reports on the matter, citing government sources
As the virus situation looks to be worsening in Germany, the government is reportedly going to take stricter measures against travelers looking to enter the country.

Forex news from the European morning session – 24 March 2021
Headlines:
Markets:
– CAD leads, GBP lags on the day
– European equities mixed; S&P 500 futures up 0.4%

Merkel says it was a mistake to back a lockdown for Easter
here