The US Dollar resumed its upward trend on March 27, primarily due to ongoing concerns about US tariffs and lowered geopolitical tensions. The US Dollar Index (DXY) surpassed the 104.00 mark, recovering from earlier fluctuations as US yields gained strength.
EUR/USD fell to approximately 1.0740, reflecting a renewed demand for the US Dollar. Attention in Europe shifts to the upcoming ECB’s M3 Money Supply and European Commission Forecasts.
GBP/USD faced selling pressure after two consecutive rises, dropping to near 1.2870. Key data, including Retail Sales and the final Q4 GDP Growth Rate, is expected on March 28.
Usd Jpy Rebounds Past 15000
USD/JPY rebounded above the 150.00 level after a recent decline. Weekly Foreign Bond Investment figures are anticipated from Japan.
AUD/USD declined to near 0.6280, following the overall risk trend. Housing Credit data and Private Sector Credit figures are due on March 31.
WTI prices rose for three days, reaching new three-week highs over $70.00 per barrel, supported by decreasing US inventories and supply worries.
Gold prices slightly decreased to around $3,010 per troy ounce amid a stronger US Dollar, while silver prices retreated from four-day highs, settling defensively.
The US Dollar made a clear move upwards again on 27 March, largely driven by persisting trade concerns and a slight easing of geopolitical tensions. It strengthened enough to push the US Dollar Index (DXY) beyond 104.00, helped by an uptick in US yields. This suggests that confidence in the currency remains firm, particularly as traders weigh global risks against domestic economic signals.
The euro dropped to around 1.0740 against the greenback, largely due to renewed demand for the latter. In the coming days, focus in Europe turns to fresh money supply figures from the ECB, alongside projections from the European Commission. These could provide further indications as to whether policymakers still see growth risks ahead or if inflation remains a pressing issue.
Sterling declined after back-to-back gains, slipping towards 1.2870. Investors now look ahead to economic releases, including retail sales data and final fourth-quarter GDP results. Both reports will be pivotal in gauging the UK’s underlying economic strength, particularly with inflationary pressures still in focus.
Against the Japanese yen, the US Dollar rebounded past 150.00, recovering from its latest dip. Japan’s weekly Foreign Bond Investment figures will be worth checking for further clues on capital flows, as recent movements suggest adjustments in overseas holdings.
Oil Continues Its Upward Trend
The Australian Dollar followed broader risk trends lower, sinking towards 0.6280. The upcoming housing credit and private sector credit data, expected on 31 March, may shed light on borrowing conditions and whether economic activity is holding up amid shifting market sentiment.
Oil prices have now climbed for three consecutive sessions, with WTI surpassing $70.00 per barrel. Lower US inventories and fresh worries around supply constraints appear to have supported this upward move. If inventory data continues to tighten, the market could see even more movement in the days ahead.
Meanwhile, gold edged slightly lower, hovering near $3,010 per troy ounce as traders factored in the stronger US Dollar. Silver, which had reached a four-day high, retreated from those levels and is now holding a more defensive position. These moves indicate that precious metals are responding directly to shifts in the currency and bond markets, making upcoming yield movements a key factor to watch.
