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.
placeholder
The Fed held at 3.75%–4.00% — and two officials voted to hike. December is now 85% pricedThe FOMC held by a 10–2 vote, with Governor Cook and Cleveland Fed President Hammack dissenting for a 25bp hike. Chair Warsh offered no forward guidance and no dot plot, the 2-year yield fell 8bp to 4.70%, and the dollar slipped to 101.84 even as markets moved December hike odds to 85%–87%. Tonight's Q3 GDP and September core PCE are the next referee.
Author  Irene Q.
Oct 29, Thu
The FOMC held by a 10–2 vote, with Governor Cook and Cleveland Fed President Hammack dissenting for a 25bp hike. Chair Warsh offered no forward guidance and no dot plot, the 2-year yield fell 8bp to 4.70%, and the dollar slipped to 101.84 even as markets moved December hike odds to 85%–87%. Tonight's Q3 GDP and September core PCE are the next referee.
placeholder
Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - November 2, 2026Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 2, 2026. Read on for the details.
Author  Mitrade
Nov 02, Mon
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 2, 2026. Read on for the details.
placeholder
Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - November 3, 2026Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 3, 2026. Read on for the details.
Author  Mitrade
Yesterday 01: 49
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 3, 2026. Read on for the details.
placeholder
Gold rebounds to $3,946 off $3,870 as oil does the Fed's work — but the ETF bid is still missingGold closed at $3,946, up 1.84% from a one-year low of $3,870.25, as Brent's 7.6% slide cut December hike odds to 77%. ETF holdings are still shrinking — a short-covering bounce, not new money.
Author  Irene Q.
Yesterday 03: 12
Gold closed at $3,946, up 1.84% from a one-year low of $3,870.25, as Brent's 7.6% slide cut December hike odds to 77%. ETF holdings are still shrinking — a short-covering bounce, not new money.
placeholder
Brent at $103.60: the peace trade is selling paper, but the physical market just drew 5.3 million barrelsBrent settled at $103.60, its lowest close since October 7 and an 8% weekly drop on US-Iran talks. Yet API crude stocks fell 5.267 million barrels versus a 2.1 million build expected.
Author  Irene Q.
4 hours ago
Brent settled at $103.60, its lowest close since October 7 and an 8% weekly drop on US-Iran talks. Yet API crude stocks fell 5.267 million barrels versus a 2.1 million build expected.
goTop
quote