Here is what you need to know on Tuesday, March 5:
Major currency pairs continue to fluctuate in familiar ranges early Tuesday following Monday's indecisive action. ISM Services PMI survey for February and Factory orders data for January will be featured in the US economic docket in the American session. S&P will also release final revisions to February PMI for the EU, Germany, the UK and the US.
Federal Reserve Chairman Jerome Powell will present the semi-annual Monetary Policy Report on Wednesday and Thursday, the European Central Bank will announce policy decisions on Thursday and the US Bureau of Labor Statistics will release the February jobs report on Friday.
The US Dollar (USD) struggled to gather strength against its rivals in the first half of the day on Monday. The bearish opening seen in Wall Street, however, helped the currency hold its ground and the USD Index (DXY) closed the day virtually unchanged. In the European morning on Tuesday, DXY trades marginally higher but stays below 104.00. In the meantime, US stock index futures are down between 0.3% and 0.5%, pointing to a cautious market mood, while the benchmark 10-year US Treasury bond yield stays quiet at around 4.2%.
US Dollar price today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Australian Dollar.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.07% | 0.11% | 0.17% | 0.42% | 0.01% | 0.35% | 0.10% | |
| EUR | -0.07% | 0.04% | 0.10% | 0.33% | -0.05% | 0.26% | 0.05% | |
| GBP | -0.10% | -0.03% | 0.06% | 0.29% | -0.10% | 0.24% | 0.01% | |
| CAD | -0.17% | -0.10% | -0.07% | 0.21% | -0.15% | 0.16% | -0.07% | |
| AUD | -0.42% | -0.33% | -0.29% | -0.23% | -0.39% | -0.07% | -0.28% | |
| JPY | -0.02% | 0.07% | 0.06% | 0.16% | 0.37% | 0.34% | 0.09% | |
| NZD | -0.36% | -0.26% | -0.25% | -0.18% | 0.07% | -0.35% | -0.21% | |
| CHF | -0.11% | -0.04% | -0.01% | 0.06% | 0.30% | -0.11% | 0.24% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
Despite the choppy action seen in foreign exchange markets, Gold gathered bullish momentum and extended its rally to a fresh 2024-high above $2,100 on Monday, rising more than 1.5% on a daily basis. XAU/USD consolidates its gains above $2,110 in the early European session.
Gold price flirts with multi-month peak, bulls await more cues on Fed rate-cut path.
EUR/USD closed marginally higher on Monday but retreated to the 1.0850 area early Tuesday. Eurostat will release Producer Price Index (PPI) data for January later in the session.
The data from Japan showed early Tuesday that Tokyo Consumer Price Index jumped to 2.6% on a yearly basis in February from 1.8% in January. Tokyo CPI ex Food and Energy edged lower to 3.1% from 3.3% in the same period. USD/JPY showed no immediate reaction to these reading and was last seen moving sideways at around 150.50.
Japanese Yen bulls shrug off stronger Tokyo CPI print, subdued USD price action.
While speaking at the National People's Congress (NPC) annual meeting on Tuesday, China’s Premier Li Qiang noted that the foundation of China's economic recovery is not solid yet. According to Reuters, China is expected to set a growth target of 5% for 2024. AUD/USD came under bearish pressure during the Asian trading hours and was last seen losing nearly 0.5% on the day at around 0.6480.
Australian Dollar moves below a psychological level amid a stable US Dollar.
GBP/USD closed the second consecutive trading day in positive territory on Monday but reversed its direction after encountering resistance at around 1.2700. The pair stays on the back foot early Tuesday and edged lower toward 1.2670.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD Gains look limited by 1.1570 Premium
EUR/USD trades well on the defensive for the second day in a row, revisinting the mid-1.1300s on the back of the continuation of the upside impulse in the US dollar. The move followed firmer US PMI data and news indicating the White House may be considering tariff cuts on Chinese imports.
GBP/USD deflates to the sub-1.3300 area, USD bulls prevail
GBP/USD remained on the back foot Wednesday, slipping below the 1.3300 level as the Greenback gained further traction. The Dollar’s solid performance was supported by strong US data and fading concerns over a renewed escalation in the US–China trade dispute.
Gold corrected extreme conditions, struggles around $3,300
Gold extended its decline on Wednesday, slipping below the $3,300 mark per troy ounce in response to reports from the media suggesting the Trump administration is weighing tariff reductions on Chinese goods, a news that revived hopes of easing trade tensions and reduced demand for the yellow metal as a safe-haven asset.
Bitcoin bullish momentum builds as premium exceeds 9% for first time in three months
Bitcoin price is extending its gains, trading above $94,000 at the time of writing on Wednesday, following a two-day rally of 9.75% so far this week. BTC rally gathers momentum as trade war fears ease, following US President Donald Trump’s downplaying of tensions with China.
Five fundamentals for the week: Traders confront the trade war, important surveys, key Fed speech Premium
Will the US strike a trade deal with Japan? That would be positive progress. However, recent developments are not that positive, and there's only one certainty: headlines will dominate markets. Fresh US economic data is also of interest.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.