Here is what you need to know on Monday, March 11:
The US Dollar (USD) stays quiet early Monday after having suffered large losses against its major rivals in the previous week. The USD Index, which lost more than 1% last week, fluctuates slightly below 103.00, while the benchmark 10-year US Treasury bond yield holds above 4%. The economic calendar will not offer any high-tier data releases to start the week.
The US Bureau of Labor Statistics (BLS) reported on Friday that Nonfarm Payrolls (NFP) rose by 275,000 in February. This reading surpassed the market expectation of 200,000 but failed to provide a boost to the USD because the BLS also announced that it revised the January increase of 353,000 lower to 229,000. Other details of the jobs report showed that the annual wage inflation edged lower to 4.3% and the Unemployment Rate rose to 3.9% from 3.7% while the Labor Force Participation held steady at 62.5%.
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 Japanese Yen.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | -0.02% | -0.01% | -0.03% | 0.11% | 0.14% | 0.01% | -0.08% | |
| EUR | 0.02% | 0.00% | -0.02% | 0.13% | 0.17% | 0.03% | -0.06% | |
| GBP | 0.01% | -0.02% | -0.02% | 0.15% | 0.15% | 0.05% | -0.06% | |
| CAD | 0.02% | 0.00% | 0.02% | 0.16% | 0.15% | 0.06% | -0.05% | |
| AUD | -0.15% | -0.13% | -0.17% | -0.17% | 0.03% | -0.09% | -0.18% | |
| JPY | -0.14% | -0.16% | 0.11% | -0.17% | -0.04% | -0.11% | -0.22% | |
| NZD | -0.01% | -0.03% | -0.02% | -0.05% | 0.09% | 0.13% | -0.09% | |
| CHF | 0.06% | 0.04% | 0.05% | 0.04% | 0.17% | 0.20% | 0.11% |
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).
Over the weekend, the data from China showed that the annual inflation, as measured by the change in the Consumer Price Index (CPI), jumped to 0.7% in February from -0.8% in January, surpassing analysts' estimate of 0.3% by a wide margin. AUD/USD largely ignored this data at the weekly opening and the pair was last seen consolidating the previous week's gains at around 0.6600.
Australian Dollar pulls back from weekly highs on lower commodities' prices.
USD/JPY declined nearly 2% last week and touched its lowest level in over a month below 147.00 on Friday. The pair stays relatively calm slightly below 147.00 in the European morning on Monday. Gross Domestic Product in Japan expanded at an annual rate of 0.4% in the fourth quarter, following the 0.4% contraction recorded in the previous quarter.
Japanese Yen seems poised to appreciate further against USD amid BoJ rate hike bets.
EUR/USD touched its highest level in nearly two months at 1.0981 after the US data on Friday but profit taking caused it to erase its daily gains. The pair fluctuates in a tight channel slightly below 1.0950 in the early European session.
EUR/USD Price Analysis: Treads water below the major resistance of 1.0950.
Gold extended its impressive uptrend and reached a new record-high of $2,195 during the American trading hours on Friday. XAU/USD moves up and down in a narrow range at around $2,180 in the European morning.
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 holds steady near 1.0800 after German sentiment data
EUR/USD stays in a consolidation phase at around 1.0800 on Tuesday after closing in positive territory on Monday. The upbeat ZEW sentiment data from Germany fails to provide a boost to the Euro as investors await producer inflation data from the US and Fed Chairman Powell's speech.
GBP/USD drops below 1.2550 after UK jobs data
GBP/USD struggles to build on Monday's gains and trades in the red below 1.2550 in the European session on Tuesday. The data from the UK showed that the Unemployment Rate edged higher to 4.3% in the three months to March as forecast, failing to help Pound Sterling find demand.
Gold price edges higher ahead of US PPI data, Fed’s Powell speech
The gold price (XAU/USD) rebounds despite the consolidation of the US Dollar (USD) on Tuesday. The upside of yellow metal might be limited as traders might wait on the sidelines ahead of key US inflation data this week.
Ethereum knocking at support’s door
Crypto market capitalisation rose 0.8% over the past 24 hours to 2.2 trillion, but growth exceeded 2% for most of the period. However, it dipped at the start of active European trading, temporarily returning to levels of a day ago.
Entering a crucial run of data for financial markets
We are entering a crucial period for financial markets and forecasters as Americans' near-term inflation expectations rise again. Upcoming reports on the CPI and PPI for April, along with new data on retail sales and industrial production, will provide valuable insights.