Trading activity remained subdued earlier in the day, with major currency pairs continuing to trade within familiar ranges. The housing price index for June will be the first data of the day from the US. Later in the U.S. session, market participants will be closely watching the U.S. Bureau of Labor Statistics’ JOLTS job vacancies data for July and the Conference Board’s August consumer sentiment index.
The positive shift in risk sentiment made it difficult for the dollar to strengthen in the second half of Monday, with the US dollar index (DXY) closing in negative territory. During European morning trade on Tuesday, the U.S. dollar index was steady around 104.00. Wall Street’s main indexes rose more than 0.5 percent on Monday, with U.S. stock futures last posting small daily gains. Meanwhile, U.S. 10-year Treasury yields remained below 4.2% after falling nearly 1% on Monday.
USD Price Today
The table below shows the percent change in the U.S. dollar (USD) against major major currencies today. The greenback was weakest against the New Zealand dollar.
During Asian trading hours, data from Japan showed that the unemployment rate edged up to 2.7% in July from 2.5% in June. Meanwhile, the Japanese government said in its annual economic white paper that “price and wage increases in Japan will expand from the spring of 2022”. “These changes suggest that the Japanese economy is reaching a turning point in its 25-year struggle against deflation,” the publication further wrote. USD/JPY did not react to the comments and traded sideways around 146.50.
EUR/USD edged higher on Monday and continued to edge higher on Tuesday morning. However, the pair appears to be struggling to gather bullish momentum while trading below 1.0850.
GBP/USD rallied during the European session and rose to 1.2650. In a sign of improved risk sentiment, Britain’s FTSE 100 opened more than 1% higher on Tuesday after a long weekend.
AUD/USD maintained recovery momentum following Monday’s gains and climbed above 0.6450. NZD/USD rose to 0.5950 following Monday’s choppy moves, underpinned by a positive risk-on market sentiment.
Gold prices ended slightly higher on Monday and continued to advance after U.S. yields retreated earlier on Tuesday. At press time, XAU/USD is trading near $1,925.
Both bitcoin and ethereum started the week with no direction, trading sideways in tight ranges around $26,000 and $1,650, respectively.
