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Forex Today: Cautious start to the week ahead of US Treasury bond auctions

Here's what you need to know to trade today Monday February 26:

He US Dollar Index DXY is fluctuating in a tight range around the 104.00 level after breaking a five-week winning streak. The change in January new home sales will be the only data on the US economic agenda on Monday. Later, the president of the European Central Bank (ECB), Christine Lagardewill give a speech and the US Treasury will hold auctions of 2- and 5-year bonds.

Wall Street's main indices closed the previous week on a mixed note, as the recovery in risk appetite seen earlier in the week lost steam. Early on Monday, US stock index futures are trading slightly lower, reflecting market caution. The 10-year US Treasury yield remains slightly below 4.25% after falling nearly 2% on Friday. January Durable Goods Orders and February Consumer Confidence Index will be released on Tuesday.

Quote of the US dollar today

Below is the percentage change of the US Dollar (USD) against the major currencies today.

USD EUR GBP CAD AUD JPY NZD CHF
USD -0.04% 0.05% 0.02% 0.14% -0.08% 0.25% -0.03%
EUR 0.04% 0.07% 0.06% 0.19% -0.04% 0.30% 0.00%
GBP -0.04% -0.08% -0.02% 0.10% -0.11% 0.21% -0.08%
CAD -0.02% -0.06% 0.03% 0.13% -0.11% 0.23% -0.06%
AUD -0.16% -0.19% -0.10% -0.13% -0.22% 0.11% -0.18%
JPY 0.08% 0.03% 0.17% 0.09% 0.22% 0.33% 0.03%
NZD -0.26% -0.31% -0.22% -0.24% -0.11% -0.33% -0.30%
CHF 0.03% 0.00% 0.07% 0.06% 0.19% -0.05% 0.30%

The heat map shows the percentage changes of the major currencies against each other. The base currency is chosen in the left column, while the quote currency is chosen in the top row. For example, if you choose the euro in the left column and scroll down the horizontal line to the Japanese yen, the percentage change that appears in the box will represent EUR (base)/JPY (quote).

The pair USD/JPY It stabilized above 150.00 in the second half of last week and posted gains for the fourth consecutive week. The pair remains stable around 150.50 in the early European morning on Monday. In the Asian session on Tuesday, market participants will closely monitor January Consumer Price Index (CPI) data in Japan.

After Thursday's sharp rise, the EUR/USD lost its bullish momentum. However, the pair settled above 1.0800 and entered a consolidation phase. The president of the ECB, Christine Lagardewill participate in the European Parliament's plenary debate on the ECB's Annual Report 2022.

He GBP/USD posted gains for four consecutive days and was up 0.6% in the previous week. The pair fluctuates in a tight range slightly above 1.2650 early on Monday. The chief economist of the Bank of England (BoE), Huw Pillwill speak later in the day.

He AUD/USD rose 0.5% last week and stabilized around 0.6550. In the Asian session on Wednesday, market participants will closely monitor January monthly CPI data from Australia. Meanwhile, the NZD/USD trading lower and retreating towards 0.6150 early on Monday, having found resistance near 0.6200 on Friday. The Reserve Bank of New Zealand will announce its monetary policy decisions on Wednesday.

The price of Gold benefited from falling US yields ahead of the weekend and rose 0.55% on Friday. XAU/USD remains in a consolidation phase slightly above $2,030 early on Monday.

Source: Fx Street

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