Forex Today: US PCE takes centre stage, UK GDP gathers attention in Europe

The Greenback faced the resurgence of the selling pressure, receding from the area of three-week highs amid mixed developments in US yields, steady tariff fears and expectation ahead of the release of US PCE on Friday.

Here is what you need to know on Friday, March 28:

The US Dollar Index (DXY) retreated from recent multi-week highs on the back of the decent rebound in the risk-associated universe. The publication of the PCE will be at the cenre of the debate, seconded by Personal Income, Personal Spending, and the final Michigan Consumer Sentiment gauge.

EUR/USD regained some composure and bounced off recent lows, although it failed to retest or surpass the 1.0800 barrier. Germany’s GfK Consumer Confidence and the jobs report are expected, followed by the EMU’s Economic Sentiment, Consumer Confidence, and the ECB’s Consumer Inflation Expectations.

GBP/USD kept its consolidative phase well in place, reclaiming the 1.2900 hurdle and above. Retail Sales, Current Account, Goods Trade Balance, Business Investment and the final Q4 GDP Growth Rate are next on tap across the Channel

USD/JPY added to Wednesday’s advance and flirted with monthly highs just above the 151.00 yardstick. The BoJ Summary of Opinions, the Tokyo Inflation Rate, Housing Starts, and Construction Orders will all be released.

AUD/USD navigated an inconclusive range around the 0.6300 neighbourhooh, with weekly gains so far capped by the 100-day SMA around 0.6330. Next on the Australian calendar will be the Housing Credit figures, seconded by Private Sector Credit, all expected on March 31.

WTI prices reversed three daily gains in a row, including Wednesday’s three-week peaks above the $70.00 mark per barrel as traders remained wary of tariff.

Increasing trade fears lent wings to the precious metal, encouraging the troy ounce of Gold to hit an all-time high near $3,060. Silver prices rose to multi-day highs north of the $34.00 mark per ounce.