Currency traders witnessed the US Dollar Index (DXY) trading on the softer side, staying in the low-106.00s amidst diminishing Treasury yields. The spotlight now shifts to forthcoming economic reports including trade balance figures, jobless claims, and prominent central bank figures’ speeches.
The Euro gains ground, aiming to solidify its position beyond the 1.0500 margin, with European economic statistics and central banker speeches in the queue. The Pound also sees a lift, having crossed the 1.2700 mark, as market participants look forward to the UK’s construction sector data and Bank of England insights.
Conversely, the Australian Dollar is under pressure, approaching a significant support level at 0.6400 ahead of key trade numbers. In the commodities market, WTI crude fell sharply under the $69.00 threshold, while precious metals like Gold and Silver continued their incremental climb, signaling investor caution in uncertain times.
