Forex Today: US Dollar firmer ahead of Fed’s favorite inflation gauge

Source Fxstreet

What you need to take care of on  Friday, March 28:

The US Dollar surged on Thursday, helped by hawkish comments from Federal Reserve (Fed) official Waller, who suggested the central bank may keep rates at current restrictive levels for longer. Near-term bond yields advanced, while stock markets also maintained the positive momentum.

European Central Bank (ECB) Board member Fabio Panetta repeated that the risks to price stability in the Euro Zone are diminishing, materializing the conditions for starting to ease monetary policy. Several ECB officials have hinted at a rate cut in June, aligned with President Christine Lagarde.

United States (US) data was generally encouraging. The final estimate of the Q4 Gross Domestic Product (GDP) was upwardly revised to 3.4% from the previous 3.2% estimate. Additionally, the country released Initial Jobless Claims for the week ended March 22, which came in better than anticipated at 210K. Finally, the March Michigan Consumer Sentiment Index was upwardly revised to 79.4, much better than the preliminary estimate of 76.5, while Pending Home Sales were up 1.6% MoM in February, beating expectations.

Most markets will remain closed on Friday amid the Easter Holiday, although Japanese markets will operate normally. Later in the day, the US will publish the core Personal Consumption Expenditures (PCE) Price Index, the Fed’s favorite inflation figure, expected to remain stable at 2.8% YoY.

The Euro was among the worst performers, with EUR/USD settling below the 1.0800 threshold.

GBP/USD ended the day with modest losses after the Gross Domestic Product was confirmed at -0.2% YoY in the last quarter of 2023.

Commodity-linked currencies trade unevenly, with AUD/USD posting a modest decline and settling around 0.6514 amid tepid Australian data, but the USD/CAD falling towards 1.3520, helped by the good performance of stock markets.

Gold was the best performer, and flirts with record highs, with XAU/USD trading around $2,220. 

 

US Dollar price today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the New Zealand Dollar.

  USD EUR GBP CAD AUD JPY NZD CHF
USD   0.23% -0.06% -0.32% 0.08% 0.07% 0.30% -0.42%
EUR -0.23%   -0.27% -0.54% -0.14% -0.14% 0.07% -0.65%
GBP 0.04% 0.28%   -0.27% 0.13% 0.14% 0.35% -0.37%
CAD 0.31% 0.54% 0.26%   0.40% 0.38% 0.60% -0.11%
AUD -0.08% 0.14% -0.13% -0.40%   -0.02% 0.21% -0.51%
JPY -0.07% 0.17% -0.13% -0.37% 0.03%   0.26% -0.52%
NZD -0.30% -0.06% -0.34% -0.61% -0.21% -0.23%   -0.72%
CHF 0.42% 0.65% 0.37% 0.11% 0.51% 0.48% 0.71%  

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).

 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
The Fed will sit still on October 28 — but 100 of 100 economists now expect a December hikeA Reuters poll run October 16-20 found 94 of 100 economists expecting the Fed to hold at 3.75-4.00% on October 28 — and all 100 expecting a hike in December, against less than half a month earlier. The market is close to the same price, with CME FedWatch at roughly 17% for October and 82.8% for December. With the Fed in blackout since October 17, here are the five dates that decide the rest of the year, what each one is priced for, and the two directions each can take.
Author  Irene Q.
Oct 22, Thu
A Reuters poll run October 16-20 found 94 of 100 economists expecting the Fed to hold at 3.75-4.00% on October 28 — and all 100 expecting a hike in December, against less than half a month earlier. The market is close to the same price, with CME FedWatch at roughly 17% for October and 82.8% for December. With the Fed in blackout since October 17, here are the five dates that decide the rest of the year, what each one is priced for, and the two directions each can take.
placeholder
Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - October 26, 2026Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 26, 2026. Read on for the details.
Author  Mitrade
Oct 26, Mon
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 26, 2026. Read on for the details.
placeholder
Big Tech's $800 billion AI bill faces its first real test — free cash flow is the judgeAlphabet and Microsoft report after the close on October 28, Amazon on October 29, with hyperscaler AI capex running near $800 billion a year. Meta's negative free cash flow and 9.40% drop on October 22 was the warning; this week's prints decide whether cloud growth and backlog can pay for the buildout. Here are the consensus numbers, the free-cash-flow table and the two-sided test.
Author  Irene Q.
Oct 26, Mon
Alphabet and Microsoft report after the close on October 28, Amazon on October 29, with hyperscaler AI capex running near $800 billion a year. Meta's negative free cash flow and 9.40% drop on October 22 was the warning; this week's prints decide whether cloud growth and backlog can pay for the buildout. Here are the consensus numbers, the free-cash-flow table and the two-sided test.
placeholder
Tesla jumps 5% as Barclays puts a $450 target on the SpaceX merger — the chart was already pointing to 431Tesla closed at $391.62 on October 26, up 5.21%, after Barclays upgraded the stock to Overweight and lifted its target to $450 from $370, citing a sharp inflection in Robotaxi miles and a potential SpaceX merger. The move also completed a double bottom at $345.88 and $349.33, with a neckline at $388.56 and a measured target of $431.24. Here is what the upgrade actually says, why the chart and the analyst now point the same way, and what would break the target.
Author  Irene Q.
Yesterday 05: 30
Tesla closed at $391.62 on October 26, up 5.21%, after Barclays upgraded the stock to Overweight and lifted its target to $450 from $370, citing a sharp inflection in Robotaxi miles and a potential SpaceX merger. The move also completed a double bottom at $345.88 and $349.33, with a neckline at $388.56 and a measured target of $431.24. Here is what the upgrade actually says, why the chart and the analyst now point the same way, and what would break the target.
placeholder
Fed October Rate Decision Preview: Rate Hike Pause Has Become Consensus, How Will US Stocks, Dollar, and Gold React?The Federal Reserve will announce its October interest rate decision at 14:00 Eastern Time on October 28, and Fed Chair Warsh will hold a press conference at 14:30. Markets currently wide
Author  TradingKey
19 hours ago
The Federal Reserve will announce its October interest rate decision at 14:00 Eastern Time on October 28, and Fed Chair Warsh will hold a press conference at 14:30. Markets currently wide
goTop
quote