Weekly forex futures positioning data for the CFTC for the week ending Tuesday, March 23, 2021
– EUR long 93K vs 90K long last week. Longs increased by 3K
– GBP long 22K vs 29K long last week. Longs trimmed by 7K

The NZDUSD is the biggest mover for the week with a 2.48% decline
For the week, the USD is ending as the strongest of the majors, while the NZD is the weakest.

Forex news from the European morning session – 26 March 2021
Headlines:
Markets:
– NZD leads, JPY lags on the day
– European equities higher; E-minis up 0.2%

Remarks by Japanese finance minister, Taro Aso
It is still early days in the recovery but with , it will start to filter through to the rest of the world as well – particularly in economies that recover much faster from the virus crisis in general.

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