Forex Today: US Dollar on the back foot ahead of confidence data, central bank speak – by eren_fxstreet Currencies Majors Macroeconomics Commodities CryptoCurrencies
Although the tech-heavy Nasdaq Composite closed in negative territory as the Technology and Communication Services indexes declined sharply on Monday, the S&P 500 and the Dow Jones Industrial Average registered gains, reflecting the risk-positive market environment. Early Tuesday, US stock index futures are up between 0.25 and 0.4% and the US Dollar Index stays in the red slightly above 102.50.
In an interview with the German Handelsblatt newspaper, Jose Manuel Campa, Chairman of the European Banking Authority , said that the risks in the financial system was still very high and added that rising interest rates were continuing to weigh on financial markets. These comments, however, don't seem to be having a negative impact on the Euro. After having closed in positive territory on Monday,trades above 1.0800 early Tuesday.
During the Asian trading hours, the data from Australia showed that Retail Sales rose by 0.2% on a monthly basis in February, missing the market expectation of 0.4%. Nevertheless,took advantage of the risk positive mood and was last seen rising more than 0.5% on the day at around 0.6700.fell sharply amid recovering US Treasury bond yields and erased a large portion of the previous week's losses. XAU/USD fluctuates in a tight channel above $1,950 early Tuesday.
Bitcoin lost more than 3% on Monday but seems to have gone into a consolidation phase near $27,000 on Tuesday. Similarly, Ethereum fell 3.35% but managed to stabilize above $1,700.
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