Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Forex

Forex Today: Slow start to critical week for currencies

Source Fxstreet

Here is what you need to know on Monday, March 4:

Major currency pairs fluctuate near the previous week's closing levels early Monday as investors gear up for key macroeconomic events and data releases. Sentix Investor Confidence will be featured in the European economic docket on Monday. Later in the week, Federal Reserve (Fed) Chairman Jerome Powell will deliver his semi-annual testimony and European Central Bank (ECB) will announce monetary policy decisions.

As risk flows dominated the financial markets ahead of the weekend, the US Dollar (USD) came under selling pressure, with the USD Index posting losses for the week. Early Monday, the USD Index moves sideways slightly below 104.00 and US stock index futures trade mixed. Meanwhile, the benchmark 10-year US Treasury bond yield holds steady at around 4.2% after falling more than 1.5% on Friday.

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 Japanese Yen.

	USD	EUR	GBP	CAD	AUD	JPY	NZD	CHF
USD		-0.05%	-0.04%	0.08%	0.06%	0.17%	0.04%	-0.02%
EUR	0.04%		0.00%	0.13%	0.12%	0.21%	0.08%	0.02%
GBP	0.04%	0.00%		0.11%	0.10%	0.22%	0.07%	0.02%
CAD	-0.08%	-0.11%	-0.13%		-0.01%	0.09%	-0.04%	-0.10%
AUD	-0.06%	-0.11%	-0.10%	0.03%		0.11%	-0.02%	-0.08%
JPY	-0.17%	-0.22%	-0.25%	-0.11%	-0.12%		-0.15%	-0.20%
NZD	-0.04%	-0.09%	-0.07%	0.04%	0.02%	0.13%		-0.06%
CHF	0.03%	-0.02%	-0.02%	0.11%	0.08%	0.19%	0.06%

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).

During the Asian trading hours, the data from Australia showed TD Securities Inflation declined to 4% on a yearly basis in February from 4.6% in January and Building Permits increased by 10% in January (YoY) following December's 24% contraction. AUD/USD largely ignored these data and was last seen trading flat slightly above 0.6500.

Australian Dollar stays quiet amid a stable US Dollar, awaits US data, Fed Powell's speech.

USD/JPY closed the week above 150.00 and went into a consolidation phase to start the new week. Tokyo Consumer Price Index (CPI) data for February will be featured in the Japanese economic docket in the Asian session on Tuesday.

Japanese Yen edges lower against USD amid BoJ uncertainty; focus shifts to Tokyo CPI on Tuesday.

Gold gathered bullish momentum and climbed to a fresh 2024-high above $2,080 on Friday, boosted by retreating US T-bond yields. XAU/USD trades in a tight channel at around $2,080 early Monday.

Gold price remains confined in a range near two-month top, bulls not ready to give up yet.

EUR/USD staged a rebound on Friday and closed the week with small gains. The pair stays calm at around 1.0850 in the European morning on Monday.

GBP/USD stabilized above 1.2650 on Monday after ending the previous week virtually unchanged.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Fed hike odds near 90% into Wednesday's decision — how to trade the dollar, gold and the S&P 500 A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Author Suzie

Sep 14, Mon

A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Dollar index tops 100 for the first time since July as the Fed's hawkish dot plot sinks in The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Author Irene Q.

Sep 17, Thu

The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Gold rebounds to near $4,350 on weaker US Dollar, falling oil prices Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.

Author FXStreet

Sep 18, Fri

Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.

US to delay new "overcapacity" tariffs on China — what the pause means for trade, inflation and the dollar Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Author Mitrade

Sep 18, Fri

Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Bitcoin squeezes back above $80,000 — 110,000 traders liquidated as the hawkish Fed and CLARITY setback fail to hold it down; is $83,000 next?Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Author Suzie

3 hours ago

Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Popular Symbols