Here's what you need to know to trade today Tuesday March 26:
Major currency pairs fluctuated in relatively tight ranges early on Tuesday as investors refrain from opening large positions pending the release of US macroeconomic data. February Durable Goods Orders and January House Price Index stand out in the economic calendar of the American session, while Conference Board to release consumer confidence report. Market participants will also closely monitor comments from central bank officials.
The US dollar struggled to find demand earlier in the week, and the DXY Dollar Index suffered a downward correction after the rebound of the previous week. When the main Wall Street indices closed the day with a slight drop, the Dollar managed to find a foothold. Meanwhile, the 10-year US Treasury yield rose 1% and broke a four-day losing streak, further supporting the dollar. The DXY Dollar Index is trading within a tight range slightly above 104.00 in European morning trading on Tuesday, while US stock index futures are trading slightly higher on the day.
Quote of the US dollar this week
The following table shows the percentage change of the United States Dollar (USD) against the main currencies this week.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | -0.38% | -0.43% | -0.24% | -0.41% | 0.04% | -0.37% | 0.25% | |
| EUR | 0.39% | -0.04% | 0.16% | -0.01% | 0.41% | 0.05% | 0.64% | |
| GBP | 0.43% | 0.05% | 0.21% | 0.04% | 0.47% | 0.10% | 0.68% | |
| CAD | 0.23% | -0.15% | -0.21% | -0.17% | 0.27% | -0.11% | 0.47% | |
| AUD | 0.41% | 0.02% | -0.01% | 0.17% | 0.44% | 0.04% | 0.65% | |
| JPY | -0.04% | -0.42% | -0.36% | -0.24% | -0.43% | -0.40% | 0.23% | |
| NZD | 0.33% | 0.00% | -0.04% | 0.15% | -0.02% | 0.41% | 0.63% | |
| CHF | -0.25% | -0.64% | -0.68% | -0.48% | -0.66% | -0.21% | -0.58% |
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 Research and Statistics Department of the Bank of Japan (BoJ) has reported that the trimmed average of core inflation stood at 2.3% in February, down from 2.6% in January, and substantially below the peak of 3.4% reached in September of last year. Earlier, the Japanese Minister of Finance, Shunichi Suzuki, reiterated that it is important that currencies move in a stable manner, reflecting the fundamentals, and added that they will continue to closely monitor currency movements with a high sense of urgency. The pair USD/JPY It closed the first day of the week practically unchanged and extends its sideways trend slightly below 151.50 early on Tuesday.
The pair EUR/USD took advantage of the weakness of the Dollar and closed higher on Monday. The pair remains stable around 1.0850 during the European morning. Later, the chief economist of the European Central Bank (ECB), Philip Lanegive a speech.
He GBP/USD It rebounded on Monday, having touched the 1.2600 level, and gained 0.3% on the day. The pair is trading around 1.2650 at the start of the European session.
The price of Gold rose above $2,180 on Monday but erased much of its daily gains, pressured by rising US Treasury yields. XAU/USD remains in a consolidation phase near $2,170 early Tuesday.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
