What you need to take care of on Tuesday, April 2:
The US Dollar stands as the overall winner at the end of Monday, with some major markets remaining closed amid Easter Monday. The focus was on growth-related figures as the day started with China reporting an upbeat manufacturing output in March. The news, however, fell short of maintaining investors optimism.
Financial markets priced in Friday's news that US inflation, as measured by the Personal Consumption Expenditures (PCE) Price Index, held at 2.8% YoY in February. Following the report, Federal Reserve (Fed) Chairman Jerome Powell said the central bank is in no rush to hike rates amid still high inflation and a resilient economy.
Over the weekend, European Central Bank (ECB) officials delivered hawkish comments that also failed to boost the mood. Austrian Central Bank Governor Robert Holzmann said on Sunday that the ECB could cut interest rates before the US Fed. When the ECB would pull the trigger “will depend largely on what wage and price developments look like by June,” Holzmann added. Also, Bank of Greece Governor Yannis Stournaras put on the table several rate cuts for this year, saying it is “possible” to trim 25 basis points (bps) four times this year.
The US Dollar gathered momentum following the release of a much-better-than-anticipated United States (US) ISM Manufacturing PMI. The report showed that economic activity in the manufacturing sector expanded in March after contracting for 16 consecutive months, with the index jumping to 50.3 from 47.8 in February. At the same time, S&P Global also released the final estimate of its Manufacturing PMI, which was confirmed at 51.9, below the 52.5 expected but still with expansionary levels.
EUR/USD settled around 1.0740, not far from the February low at 1.0694. GBP/USD trades around 1.2545, while USD/CHF is comfortable above 0.9040. Commodity-linked currencies fell alongside US indexes, with AUD/USD trading around 0.6480 and USD/CAD up to 1.3580. Finally, the USD/JPY stands at 151.60.
Gold soared to $2,265 a troy ounce, a record high, before pulling back towards $2,240 mid-US afternoon.
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 Pound Sterling.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.48% | 0.72% | 0.43% | 0.72% | 0.17% | 0.61% | 0.31% | |
| EUR | -0.48% | 0.24% | -0.04% | 0.25% | -0.31% | 0.12% | -0.17% | |
| GBP | -0.73% | -0.25% | -0.29% | 0.01% | -0.57% | -0.12% | -0.42% | |
| CAD | -0.43% | 0.03% | 0.27% | 0.29% | -0.27% | 0.16% | -0.13% | |
| AUD | -0.73% | -0.25% | -0.01% | -0.30% | -0.56% | -0.13% | -0.42% | |
| JPY | -0.17% | 0.33% | 0.55% | 0.29% | 0.59% | 0.45% | 0.14% | |
| NZD | -0.61% | -0.13% | 0.11% | -0.16% | 0.12% | -0.45% | -0.31% | |
| CHF | -0.31% | 0.18% | 0.42% | 0.13% | 0.42% | -0.14% | 0.31% |
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).
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 extends recovery beyond 1.0400 amid Wall Street's turnaround
EUR/USD extends its recovery beyond 1.0400, helped by the better performance of Wall Street and softer-than-anticipated United States PCE inflation. Profit-taking ahead of the winter holidays also takes its toll.
GBP/USD nears 1.2600 on renewed USD weakness
GBP/USD extends its rebound from multi-month lows and approaches 1.2600. The US Dollar stays on the back foot after softer-than-expected PCE inflation data, helping the pair edge higher. Nevertheless, GBP/USD remains on track to end the week in negative territory.
Gold rises above $2,620 as US yields edge lower
Gold extends its daily rebound and trades above $2,620 on Friday. The benchmark 10-year US Treasury bond yield declines toward 4.5% following the PCE inflation data for November, helping XAU/USD stretch higher in the American session.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Bank of England stays on hold, but a dovish front is building
Bank of England rates were maintained at 4.75% today, in line with expectations. However, the 6-3 vote split sent a moderately dovish signal to markets, prompting some dovish repricing and a weaker pound. We remain more dovish than market pricing for 2025.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.