Robert J. Williams 
In today’s forex market news, the focus shifts to significant macroeconomic data releases from the United States. Traders and investors are keenly watching the forex news today as the US Dollar remains resilient against its peers during the European morning session. The economic calendar features crucial reports such as Durable Goods Orders, Pending Home Sales, and the weekly Initial Jobless Claims. Additionally, revisions to the fourth quarter Gross Domestic Product (GDP) growth will be released by the US Bureau of Economic Analysis.
US Dollar Performance This Week
The table below illustrates the percentage change of the US Dollar (USD) against major currencies this week. Notably, the USD showed the strongest performance against the New Zealand Dollar.
| Currency | USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF |
|---|---|---|---|---|---|---|---|---|
| USD | – | -0.09% | -0.24% | 0.06% | 0.84% | 0.95% | 1.01% | -0.22% |
The risk-averse market atmosphere has supported the USD midweek. Notably, US President Donald Trump announced tariffs on Canada and Mexico, effective April 2nd, with potential tariffs on EU imports to follow. This announcement is likely to impact the forex market today.
EUR/USD Analysis
The EUR/USD pair lost nearly 0.3% on Wednesday and struggles to stage a rebound, remaining below 1.0500. The European Commission will release Consumer Confidence, Business Climate, and Economic Sentiment Indicator data for February, which could influence the pair’s movement. Additionally, the European Central Bank will publish the Monetary Policy Meeting Accounts, providing further insights into economic conditions.
GBP/USD Trends
After reaching a multi-month high above 1.2700, GBP/USD reversed its direction, erasing most of its daily gains. The pair remains under pressure, declining towards 1.2650. Traders will be watching for any developments in forex news live that could affect the pair’s trajectory.
Gold Market News
Following a sharp decline on Tuesday, Gold struggled to attract buyers on Wednesday, ending the day flat. XAU/USD remains under bearish pressure, trading near $2,890. Investors are closely monitoring gold news forex for any signs of recovery.
USD/JPY Outlook
The USD/JPY pair is struggling to find direction, moving sideways below 149.50 for the second consecutive day. Traders are anticipating Tokyo Consumer Price Index data for February, as well as Industrial Production and Retail Trade figures for January from Japan, which could influence the pair’s movement.
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