The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Tuesday at 7.1726 as compared to the previous day's fix of 7.1717.
Federal Reserve Bank of Chicago President Austan Goolsbee said late Monday that the US central bank needs more clarity before going back to cut the interest rates.
EUR/USD cycled familiar territory on Monday, testing the 1.0500 handle but failing to make any meaningful headway as Fiber continues to churn near the top end of recent consolidation.
US President Donald Trump said Monday that sweeping US tariffs on imports from Canada and Mexico “will go forward” when a month-long delay on their implementation expires next week.
AUD/USD managed to regain some upside traction and reverse Friday’s strong decline, revisiting the vicinity of the 0.6400 mark but then buyers quickly rejected it.
The US Dollar kicked off the new trading week slightly on the defensive, managing to rebound from fresh multi-week lows amid tariff concerns, lower yields, and renewed jitters on the health of the US economy.
The US Dollar Index (DXY), which measures the US Dollar’s (USD) performance against a basket of six major currencies, recovers on Monday after an initial downturn, stabilizing around 106.50.
The Mexican Peso (MXN) slipped against the US Dollar (US) for the second consecutive day after inflation data for the first half of February rose as expected, yet justified Banco de Mexico's (Banxico) latest 50 basis points (bps) rate cut.
The Dow Jones Industrial Average (DJIA) recovered some ground on Monday, climbing some 300 points and change at its peak in an effort to claw back some of last week’s losses sparked by an unexpected downturn in consumer confidence figures.
NASDAQ futures at risk as they fall below Point of Control at 21,510, indicating potential downside ahead. Traders eyeing key support levels for direction.
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