Forex Today: Markets’ attention remains on US economy and tariffs

Pablo Piovano FXStreet

The US Dollar regained some composure after bottoming out in fresh two-month lows, managing to stage a decent bounce despite persistent uncertainty surrounding US tariffs and renewed concerns over the US economy.

Here is what you need to know on Thursday, February 27:

The US Dollar Index (DXY) clocked acceptable gains soon after hitting new multi-week lows near 106.20 on Wednesday amid mixed US yields across the curve and steady speculation on the health of the US economy. The weekly Initial Jobless Claims wil be published along with Durable Goods Orders, and another estimate of Q4 GDP Growth Rate. Additionally, the Fed’s Bowman, Hammack and Harker are all due to speak.

Another failed attempt to trespass the 1.0500 barrier saw EUR/USD recede to the vicinity of 1.0470, fading part of Tuesday’s gains. The final EMU’s Consumer Confidence and Economic Sentiment are expected, seconded by the ECB’s M3 Money Supply.

GBP/USD could not sustain the early move past the 1.2700 mark, eventually clinging to modest gains near 1.2680. The annualised Car Production readings are next on tap on the UK calendar.

USD/JPY faded the initial bull run to the vicinity of 150, retracing that move and closing Wednesday’s session near 149.00. Next on the japanese docket will come the Tokyo inflation figures, along with Industrial Production, Retail Sales, Housing Starts, Construction Orders, and the weekly Foreign Bond Investment readings, all expected on February 28.

AUD/USD remained on the defensive for the fourth day in a row, putting the key 0.6300 level to the test on Wednesday. The quarterly Private Capital Expenditure will be released.

WTI prices succumbed to the stronger US Dollar and unabated fears surrounding US tariffs, extending the drop well below the $69.00 mark per barrel and adding to Tuesday’s pullback.

Prices of Gold added to the recent hiccup, although the precious has metal met solid contention around the $2,900 zone per ounce troy for the time being. Silver prices managed to reverse the initial bearish tone and ended up modestly just below the $32.00 mark per ounce.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD rises to near 1.1650 amid dovish Fed expectations

EUR/USD edges higher after registering gains in the previous six successive sessions, trading around 1.1650 during the Asian hours on Monday. The pair appreciates as the US Dollar struggles amid dovish Federal Reserve expectations. Friday’s slower-than-expected US jobs growth suggests the US central bank could hold interest rates steady later this month.

GBP/USD breaks below 1.3400, challenges the 200-day SMA

GBP/USD remains under heavy fire and retreats for the fourth consecutive day on Friday. Indeed, Cable suffers the strong performance of the Greenback, intensified post-mixed NFP, and trades at shouting distance from its critical 200-day SMA near 1.3380.

Gold hits a fresh record high as rising geopolitical risks boost safe-haven demand

Gold scales higher for the third straight day and climbs to a fresh all-time peak, beyond the $4,550 level, during the Asian session on Monday. Reports that US President Donald Trump is weighing a series of potential military options in Iran following deadly protests in the country fuel the risk of a further escalation of geopolitical tensions amid the protracted Russia-Ukraine war. This, along with rising bets for more rate cuts by the Fed, offsets the recent US Dollar rally and is seen benefiting the safe-haven bullion.

Week ahead: US CPI might challenge the geopolitics-boosted Dollar

Geopolitics may try to steal the limelight from US data. A possible US Supreme Court ruling on tariffs could dictate market movements. Dollar strength might be tested if investors refocus on Fed expectations. A crammed data calendar next week, US CPI comes on Tuesday; Fedspeak to intensify. Euro weakness persists, lingering risk of deterioration in US-EU relations.

The weekender: The market that refused to blink and dispersion is the signal

Last week was supposed to be a week of verdicts. Jobs. Tariffs. Rates. Instead, markets got ambiguity and treated it like oxygen. December payrolls undershot expectations but remained well within the market-perceived bullish-for-equities tolerance. 50,000 jobs added and unemployment down to 4.4% kept the data squarely in the Fed no-action zone.

XRP trades under pressure amid weak retail demand

XRP presses down on the 50-day EMA support as risk-averse sentiment spreads despite a positive start to 2026. XRP faces declining retail demand, as reflected in futures Open Interest, which has fallen to $4.15 billion.