Here's what you need to know to trade today Monday March 18:
Major currency pairs fluctuate in tight ranges at the start of the week as market participants refrain from opening large positions ahead of this week's critical central bank meetings and data release. During the European session, Eurostat to publish revisions to February inflation data. In the Asian session on Tuesday, the Bank of Japan (BoJ) and the Reserve Bank of Australia (RBA) will announce their monetary policy decisions.
He US Dollar Index DXY broke a three-week losing streak as the 10-year US Treasury yield rose to 4.3%, gaining more than 5% weekly. The DXY index is stable around 130.50 in European morning Monday and the 10-year yield is moving sideways near 4.3%. Meanwhile, US stock index futures are trading slightly higher in the early stages of the European session.
Dollar Quote in the last 7 days
The following table shows the percentage change of the United States Dollar (USD) against the main currencies in the last 7 days.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.49% | 0.94% | 0.36% | 0.89% | 1.64% | 1.42% | 0.69% | |
| EUR | -0.49% | 0.45% | -0.14% | 0.40% | 1.15% | 0.94% | 0.21% | |
| GBP | -0.94% | -0.44% | -0.58% | -0.04% | 0.72% | 0.50% | -0.23% | |
| CAD | -0.36% | 0.13% | 0.57% | 0.53% | 1.28% | 1.06% | 0.33% | |
| AUD | -0.90% | -0.40% | 0.04% | -0.54% | 0.76% | 0.54% | -0.20% | |
| JPY | -1.65% | -1.15% | -0.46% | -1.31% | -0.75% | -0.20% | -0.97% | |
| NZD | -1.44% | -0.94% | -0.49% | -1.08% | -0.53% | 0.22% | -0.74% | |
| CHF | -0.69% | -0.19% | 0.25% | -0.32% | 0.21% | 0.95% | 0.74% |
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 in the box will represent EUR (base)/JPY (quote).
Earlier in the day, China data has shown that January-February retail sales rose 5.5% year-on-year in February, exceeding market expectations that expected an increase of 5.2%. Besides, industrial production grew by 7% in the same period, exceeding analysts' estimate of 5%. In a press conference held on Monday, China's National Bureau of Statistics (NBS) noted that the national economy had continued to recover and improve in the January-February period, with the entry into force of macroeconomic policies. The NBS also noted that the foundations of economic recovery and growth must be “further consolidated.”
RBA expected to maintain policy rate at 4.35%. After falling almost 1% the previous week, the AUD/USD It remains in a consolidation phase slightly above 0.6550 on Monday's European morning.
The BoJ announced on Monday that it will carry out an unscheduled bond operationoffering to purchase 3 trillion yen in bonds (JGB) in a deal that will begin on Tuesday and end on Thursday. Markets still uncertain whether the BoJ will end its negative interest rate policy after the March meeting. The pair USD/JPY rose more than 1% last week and stabilized above 149.00.
He EUR/USD It failed to rebound after Thursday's sharp drop and closed last week in negative territory. Early on Monday, the pair is trading within a tight range slightly below 1.0900.
He GBP/USD fell almost 1% and last week posted its biggest one-week loss since December. The pair remains below 1.2750 in early European morning.
The price of Gold It closed in negative territory last week and continued to stretch at the beginning of the new week. At the time of writing, XAU/USD is down about 0.5% on the day, trading below $2,150.
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.
