Here's what you need to know to trade today Thursday March 28:
Major currency pairs continue to fluctuate in known ranges in the second half of the week. Before the markets begin the Easter holidays on Friday, the US economic agenda will publish weekly jobless claims, pending home sales for February, and the University of Michigan Consumer Sentiment Index for March. In addition, the United States Bureau of Economic Analysis will release the final review of fourth quarter Gross Domestic Product (GDP) growthbefore publishing data on the Personal Consumption Expenditure Price Index (PCE) for February on Friday.
He US Dollar Index DXY closed Wednesday virtually unchanged as improving risk sentiment made it difficult for the currency to gain strength against its rivals. Early on Thursday, the DXY index is trading within a tight range below 104.50. Meanwhile, the 10-year US Treasury bond yield remains above 4.2% and US stock index futures are trading slightly lower.
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 | -0.10% | -0.22% | -0.20% | -0.05% | 0.03% | 0.06% | 0.88% | |
| EUR | 0.12% | -0.13% | -0.10% | 0.08% | 0.15% | 0.21% | 0.99% | |
| GBP | 0.22% | 0.12% | 0.04% | 0.18% | 0.26% | 0.33% | 1.12% | |
| CAD | 0.19% | 0.09% | -0.02% | 0.16% | 0.24% | 0.30% | 1.08% | |
| AUD | 0.07% | -0.05% | -0.17% | -0.14% | 0.04% | 0.11% | 0.93% | |
| JPY | -0.03% | -0.12% | -0.15% | -0.22% | -0.06% | 0.07% | 0.86% | |
| NZD | -0.10% | -0.16% | -0.27% | -0.25% | -0.11% | -0.03% | 0.84% | |
| CHF | -0.90% | -1.00% | -1.13% | -1.10% | -0.93% | -0.90% | -0.80% |
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 fell after hitting a multi-decade high near 152.00 on Wednesday. However, the pair stabilized above 151.00. Japanese Chief Cabinet Secretary Yishimasa Hayashi said on Thursday that “will not rule out any option against excessive currency movements“. Meanwhile, in the Bank of Japan's (BoJ) summary of views on its monetary policy in March, one of the monetary policy makers stated that Yield curve control, negative interest rate and other massive stimulus tools have served their purpose. In Friday's Asian session, market participants will closely monitor industrial production and Tokyo Consumer Price Index data.
He USD/CAD It closed on Wednesday for the third consecutive day in negative territory and has entered a consolidation phase below 1.3600 early on Thursday. Statistics Canada will publish the January monthly GDP growth late in the day.
In Australia, consumer inflation expectations fell to 4.3% in March from 4.5% in February, while retail sales grew 0.3% monthly in February. After closing flat on Wednesday, the pair AUD/USD has come under slight downward pressure and has retreated towards 0.6500 early on Thursday.
He EUR/USD struggles to gain traction in the second half of the week, but manages to stay comfortably above 1.0800.
He GBP/USD posted small gains on Wednesday but failed to extend its rally early Thursday. The pair is trading slightly lower below 1.2650.
After facing rejection near $2,200 and making a deep downward correction in the first half of trading on Wednesday, the price of Gold It regained bullish momentum and closed positively above $2,190. XAU/USD remains relatively calm in the early hours of Friday, holding near $2,200.
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.
