The US Dollar Index (DXY) is trading around the 104.00 mark after experiencing a pullback due to concerns about the US economy and tariff issues. Key reports on business optimism and job openings are anticipated in the coming days.
EUR/USD remained below the 1.0900 level as it faced modest pressure. The upcoming ECOFIN meeting and ECB speeches are expected to draw attention.
GBP/USD is encountering resistance near 1.2950, influencing a retreat to multi-day lows. The BRC Retail Sales Monitor will be a focal point.
Yen Strengthens Against The Dollar
The Japanese yen has gained value, pushing USD/JPY below 147.00 for the first time since October. Japan’s final Q4 GDP growth rate and household spending figures will be closely watched.
AUD/USD continued its decline, falling below the 0.6300 support level. Upcoming data on consumer and business confidence is expected to be released.
WTI crude oil prices fell below $67.00 amidst ongoing uncertainty regarding US tariffs. Gold prices have also decreased, nearing multi-day lows around $2,880 per troy ounce. Silver prices have retraced below $32.00 per ounce, reaching three-day lows.
The Dollar Index has eased back towards 104.00, reflecting apprehension about the US economy and trade policies. With reports on business confidence and job vacancies expected shortly, there’s reason to believe we could see sharper moves if the data diverges from expectations. Any indication that hiring demand is softening or that businesses are growing more uncertain could weigh further on the greenback.
The euro remains under strain, trading below 1.0900. With finance ministers across the bloc set to convene and key figures from the European Central Bank scheduled to speak, there is the potential for fresh catalysts. If policymakers hint at a firmer economic outlook or address rate expectations with clarity, the currency might attempt another test to the upside.
Sterling is struggling to maintain levels near 1.2950, having slipped to multi-day lows. Retail sales performance will be in sharp focus, with the latest British Retail Consortium data offering insight into consumer activity. A softer reading here could reinforce recent struggles for the pound, particularly if broader economic concerns persist.
The yen has strengthened, sending USD/JPY beneath 147.00 for the first time in months. Revised economic growth figures and household spending numbers will be closely examined, given how consumption trends could shape Japan’s monetary stance. Persistent signs of resilience may continue to support the yen’s recent gains, while any weaknesses in domestic demand could open the door for renewed weakness.
The Australian dollar has slipped below 0.6300, maintaining a downward trajectory. Incoming sentiment figures for both consumers and businesses could influence whether this trend extends or finds some relief. If confidence readings show deterioration, the downside pressure may persist.
Oil And Precious Metals Decline
Oil prices have softened, with West Texas Intermediate crude slipping beneath $67.00. Uncertainty regarding US trade measures appears to be feeding into commodities, and this cautious sentiment has also weighed on gold. The metal is approaching recent lows, hovering near $2,880 per troy ounce. Silver has mirrored this pattern, dropping below $32.00 and shedding recent gains.
With multiple data releases and policymaker comments ahead, volatility across these markets could increase. As sentiment shifts, traders will need to stay vigilant in the coming sessions.
