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Forex Today: Investors will be closely following US PCE and German CPI
Forex Today: Investors will be closely following US PCE and German CPI
Oleh Fxstreet
Forex Today: Investors will be closely following US PCE and German CPI
The US Dollar gathered extra steam and rose to multi-day highs on the back of extra announcement regarding tariffs by President Trump, while some cautious trade also prevailed ahead of the release of US inflation tracked by the PCE on Friday.
CPI
Inflation
DollarIndex
EURUSD
Currencies
Fed's Hammack: Further easing in inflation far from certain
Fed's Hammack: Further easing in inflation far from certain
Oleh Fxstreet
Fed's Hammack: Further easing in inflation far from certain
Federal Reserve (Fed) Bank of Cleveland President Beth Hammack noted on Thursday that interest rates are likely on hold for the time being as inflation data starts to pose a growing problem for central policymakers.
Fed
CentralBanks
Inflation
Dow Jones Industrial Average fails to shrug off new tariff threats
Dow Jones Industrial Average fails to shrug off new tariff threats
Oleh Fxstreet
Dow Jones Industrial Average fails to shrug off new tariff threats
The Dow Jones Industrial Average (DJIA) knocked around 400 points higher at its highest on Thursday, driven by a heavy bounceback in overweight stocks listed on the Dow Jones.
DowJones
Equities
SEO
TradeWar
Trump says Russia acting well and that a peace deal is "well advanced"
Trump says Russia acting well and that a peace deal is "well advanced"
Oleh Forex Live
Trump says Russia acting well and that a peace deal is "well advanced"
Comments from Trump on tariffs and Ukraine
Politics
ukraine
There haven't been intensive discussions around avoiding China tariffs - report
There haven't been intensive discussions around avoiding China tariffs - report
Oleh Forex Live
There haven't been intensive discussions around avoiding China tariffs - report
Looks like China will retaliate instead
China
US Dollar gathers traction on strong GDP and PCE data
US Dollar gathers traction on strong GDP and PCE data
Oleh Fxstreet
US Dollar gathers traction on strong GDP and PCE data
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is extending gains on Thursday, breaking above 107.00 as markets digest the second reading of United States (US) Gross Domestic Product (GDP) and its inflation components.
DollarIndex
SEO
Currencies
GDP
DAX leads European equity markets lower
DAX leads European equity markets lower
Oleh Forex Live
DAX leads European equity markets lower
Closing changes in Europe
Stocks
EUR/USD Price Analysis: Pair plunges after third rejection at 100-day SMA
EUR/USD Price Analysis: Pair plunges after third rejection at 100-day SMA
Oleh Fxstreet
EUR/USD Price Analysis: Pair plunges after third rejection at 100-day SMA
The EUR/USD pair suffered a sharp decline on Thursday, sinking to its lowest level in two weeks as sellers took control following yet another failure at the 100-day Simple Moving Average (SMA).
EURUSD
Majors
Currencies
Technical Analysis
BoJ's Ueda: Will make policy decisions after looking at US policy impacts
BoJ's Ueda: Will make policy decisions after looking at US policy impacts
Oleh Fxstreet
BoJ's Ueda: Will make policy decisions after looking at US policy impacts
Bank of Japan (BoJ) Governor Kazuo Ueda noted on Thursday that US policy uncertainty is impacting how central banks are doing their jobs, and highlighted that the BoJ will be watching data closely in the runup to possible widespread tariffs.
USDJPY
BOJ
TradeWar
KC Fed manufacturing index -5 vs -9 prior
KC Fed manufacturing index -5 vs -9 prior
Oleh Forex Live
KC Fed manufacturing index -5 vs -9 prior
Small improvement in the KC Fed
US President Donald Trump reiterates March 4 tariffs, still seeking Ukraine deal
US President Donald Trump reiterates March 4 tariffs, still seeking Ukraine deal
Oleh Fxstreet
US President Donald Trump reiterates March 4 tariffs, still seeking Ukraine deal
United States (US) President Donald Trump hit social media on Thursday, taking to the streets of X (nee Twitter) to inform global markets that his planned 25% tariff package aimed at Mexico and Canada will now be coming into effect on March 4, rather than the April 2 date he reaffirmed just hours earlier.
OfficialTrump
UnitedStates
TradeWar
Canada
Mexico
Mexican Peso tumbles as Trump confirms Mexico tariffs for March
Mexican Peso tumbles as Trump confirms Mexico tariffs for March
Oleh Fxstreet
Mexican Peso tumbles as Trump confirms Mexico tariffs for March
The Mexican Peso (MXN) depreciated against the US Dollar (USD) after United States (US) President Donald Trump revealed that delayed tariffs to be enacted in February would kick in on March 4 for Mexico and Canada.
Mexico
USDMXN
Macroeconomics
TradeWar
SEO
US January pending home sales -4.6% vs -1.3% expected
US January pending home sales -4.6% vs -1.3% expected
Oleh Forex Live
US January pending home sales -4.6% vs -1.3% expected
US pending home sales data for Jan 2025
White House confirms additional 10% on China for a 20% total
White House confirms additional 10% on China for a 20% total
Oleh Forex Live
White House confirms additional 10% on China for a 20% total
That's 10% on top of the 10%
China
Fed's Schmid: Uncertainty might also weigh on growth
Fed's Schmid: Uncertainty might also weigh on growth
Oleh Fxstreet
Fed's Schmid: Uncertainty might also weigh on growth
Kansas City Federal Reserve President Jeff Schmid said on Thursday that recent surveys indicating a rise in consumer inflation expectations showed the central bank must stay focused on fully containing price pressures, noting it was a growing and potentially troubling concern for policymakers.
Fed
DollarIndex
CentralBanks
Currencies
GBP: Focus on PM Starmer visit to Washington – Scotiabank
GBP: Focus on PM Starmer visit to Washington – Scotiabank
Oleh Fxstreet
GBP: Focus on PM Starmer visit to Washington – Scotiabank
Pound Sterling (GBP) is trading marginally higher against the USD on the session but Cable remains well below yesterday’s intraday high and the lack of new factors driving UK markets this morning suggests limited scope for gains to extend, Scotiabank's Chief FX Strategist Shaun Osborne notes.
GBPUSD
Technical Analysis
Banks
EUR/USD: Gains are capped in low 1.05s – Scotiabank
EUR/USD: Gains are capped in low 1.05s – Scotiabank
Oleh Fxstreet
EUR/USD: Gains are capped in low 1.05s – Scotiabank
The EUR remains largely range-bound in rather featureless trade.Spanish core CPI fell to 2.1% in February, the lowest since December 2021, hinting at some potential progress in Eurozone inflation, Scotiabank's Chief FX Strategist Shaun Osborne notes.
EURUSD
Technical Analysis
Banks
CAD steady but fails to gain significantly – Scotiabank
CAD steady but fails to gain significantly – Scotiabank
Oleh Fxstreet
CAD steady but fails to gain significantly – Scotiabank
The Canadian Dollar (CAD) is little changed against the stronger US Dollar (USD) on the session so far.
USDCAD
Technical Analysis
Banks
US GDP expands by 2.3% in Q4 as initially estimated
US GDP expands by 2.3% in Q4 as initially estimated
Oleh Fxstreet
US GDP expands by 2.3% in Q4 as initially estimated
The US Bureau of Economic Analysis (BEA) reported on Thursday that the United States' Gross Domestic Product (GDP) expanded at an annual rate of 2.3% in the fourth quarter.
GDP
UnitedStates
EconomicIndicator
USD posts limited gains amid tariff uncertainty – Scotiabank
USD posts limited gains amid tariff uncertainty – Scotiabank
Oleh Fxstreet
USD posts limited gains amid tariff uncertainty – Scotiabank
The US Dollar (USD) is broadly firmer this morning but gains versus the majors are limited for the most part, leaving the currencies holding established trading ranges.
DollarIndex
Technical Analysis
Banks
US: Initial Jobless Claims rose to 242K last week
US: Initial Jobless Claims rose to 242K last week
Oleh Fxstreet
US: Initial Jobless Claims rose to 242K last week
US citizens filing new applications for unemployment insurance increased to 242K for the week ending February 22, as reported by the US Department of Labor (DoL) on Thursday.
Employment
UnitedStates
EconomicIndicator
DollarIndex
EURUSD
US Durable Goods Orders rise 3.1% in January vs. 2% expected
US Durable Goods Orders rise 3.1% in January vs. 2% expected
Oleh Fxstreet
US Durable Goods Orders rise 3.1% in January vs. 2% expected
Durable Goods Orders in the US rose by 3.1%, or $8.7 billion, in January to $286 billion, the US Census Bureau reported on Thursday.
UnitedStates
EconomicIndicator
Macroeconomics
GBP/JPY jumps to near 189.60 ahead of Trump-Starmer meet in Washington
GBP/JPY jumps to near 189.60 ahead of Trump-Starmer meet in Washington
Oleh Fxstreet
GBP/JPY jumps to near 189.60 ahead of Trump-Starmer meet in Washington
The GBP/JPY pair advances to near 189.60 in North American trading hours on Thursday.
GBPJPY
BOJ
BOE
ForeignTrade
InterestRate
US initial jobless claims 242K versus 221K estimate
US initial jobless claims 242K versus 221K estimate
Oleh Forex Live
US initial jobless claims 242K versus 221K estimate
Weekly US initial and continuing claims
US Q4 GDP second reading +2.3% vs +2.3% expected
US Q4 GDP second reading +2.3% vs +2.3% expected
Oleh Forex Live
US Q4 GDP second reading +2.3% vs +2.3% expected
The second look at fourth quarter 2024 GDP
US January durable goods orders +3.1% vs +2.0% expected
US January durable goods orders +3.1% vs +2.0% expected
Oleh Forex Live
US January durable goods orders +3.1% vs +2.0% expected
January US advance durable goods orders data
WH Adviser Hassett: There's a study coming out on tariffs on April 1st
WH Adviser Hassett: There's a study coming out on tariffs on April 1st
Oleh Forex Live
WH Adviser Hassett: There's a study coming out on tariffs on April 1st
Comments from White House Senior Adviser Kevin Hassett
Tariff Confusion Leaves Markets Guessing
Tariff Confusion Leaves Markets Guessing
Oleh Forex Live
Tariff Confusion Leaves Markets Guessing
If tariffs are imposed → Expect a possible sharp Mexican Peso selloff, pushing USD/MXN higher
Outlook remained heavily dependent on the evolution of services inflation - ECB accounts
Outlook remained heavily dependent on the evolution of services inflation - ECB accounts
Oleh Forex Live
Outlook remained heavily dependent on the evolution of services inflation - ECB accounts
The ECB releases the accounts of its latest monetary policy meeting in January 2025
US Dollar Index pops after US GDP reading reveals inflationary forces still at work
US Dollar Index pops after US GDP reading reveals inflationary forces still at work
Oleh Fxstreet
US Dollar Index pops after US GDP reading reveals inflationary forces still at work
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is breaking above 107.00 for the first time in five trading days, after some important US data releases which are putting inflation concerns
DollarIndex
Macroeconomics
UnitedStates
SEO
TradeWar
ForexLive European FX news wrap: Dollar steady as yields bounce, US futures tick higher
ForexLive European FX news wrap: Dollar steady as yields bounce, US futures tick higher
Oleh Forex Live
ForexLive European FX news wrap: Dollar steady as yields bounce, US futures tick higher
Forex news from the European morning session on Feb 27, 2025
Session wrap
Wrap Europe
USD/CAD flattens while Trump postpones tariff plans for Canada and Mexico again
USD/CAD flattens while Trump postpones tariff plans for Canada and Mexico again
Oleh Fxstreet
USD/CAD flattens while Trump postpones tariff plans for Canada and Mexico again
The USD/CAD pair trades flat around 1.4335 in European trading hours on Thursday.
USDCAD
Fed
Inflation
TradeWar
GDP
US copper surges on tariff risks – ING
US copper surges on tariff risks – ING
Oleh Fxstreet
US copper surges on tariff risks – ING
COMEX copper futures surged after President Donald Trump ordered the US Commerce Department to investigate possible import tariffs on copper, ING’s commodity analysts Warren Patterson and Ewa Manthey notes.
Metals
Banks
Copper
EUR/CHF: Potential support is located at 0.9250/0.9210 – Societe Generale
EUR/CHF: Potential support is located at 0.9250/0.9210 – Societe Generale
Oleh Fxstreet
EUR/CHF: Potential support is located at 0.9250/0.9210 – Societe Generale
EUR/CHF has retracted after facing strong resistance at last September high of 0.9510, Societe Generale's FX analysts report.
EURCHF
Technical Analysis
Banks
Gas: TTF sell-off continues – ING
Gas: TTF sell-off continues – ING
Oleh Fxstreet
Gas: TTF sell-off continues – ING
European natural gas prices came under additional pressure yesterday.
Gas
Energy
Banks
USD/CNH: Price movements are likely part of a range trading phase – UOB Group
USD/CNH: Price movements are likely part of a range trading phase – UOB Group
Oleh Fxstreet
USD/CNH: Price movements are likely part of a range trading phase – UOB Group
Current US Dollar (USD) price movements are likely part of a range trading phase vs Chinese Yuan (CNH), probably between 7.2530 and 7.2750.
USDCNY
USDCNH
Banks
CAD: The resurgent Liberals – ING
CAD: The resurgent Liberals – ING
Oleh Fxstreet
CAD: The resurgent Liberals – ING
The Canadian Dollar (CAD) remains quite soft given the threat of tariffs, ING’s FX analysts Chris Turner notes.
USDCAD
Technical Analysis
Banks
JPY: Far enough for the time being – ING
JPY: Far enough for the time being – ING
Oleh Fxstreet
JPY: Far enough for the time being – ING
The drop in US Treasury yields has certainly weighed on USD/JPY.
USDJPY
Technical Analysis
Banks