USD 
EUR 
GBP 
JPY
It's been a wild ride today, with the USD/JPY pair trading near the 159.95 price region with a strong but volatile tone, thanks to the sharp escalation in the ongoing conflict between Israel and the US. And honestly, it's no surprise, given the uncertainty surrounding the situation. If you were watching the EUR/USD, you'd have noticed it rose against the US Dollar, as the Greenback softens amid cautious market sentiment ahead of a deadline set by US President Donald Trump for Iran to reach a deal. The Euro/Canadian Dollar, on the other hand, closed at 1.6100, unchanged from yesterday.
But what's really caught my attention is the Fed's latest move. According to ForexLive, the Federal Reserve Bank of New York's Survey of Consumer Expectations showed one-year-ahead inflation expectations jumping to 3.4%, up 0.4 percentage points from February's 3.0%. And let's not forget the Fed Goolsbee Speech, which is scheduled for later today - it's going to be a high-impact event, so you'll want to keep an eye on that. The New Zealand Dollar/Euro closed at 0.4926, also unchanged, while the New Zealand Dollar/British Pound closed at 0.4304. FXStreet pointed out that the AUDUSD moved higher yesterday, pushing back above its 100- and 200-hour moving averages, which is a signal that momentum is trying to shift back in favor of the buyers.
And speaking of buying, the US Dollar/Mexican Peso closed at 17.7618, unchanged from yesterday. But with the Durable Goods Orders and Durable Goods Orders Ex Transp events scheduled for earlier today, it's likely we'll see some movement in the US Dollar soon. BNY's Head of Markets Macro Strategy Bob Savage reports that Eurozone data and European Central Bank commentary point to rising downside risks for the Euro, thanks to the Iran war and energy shock. It's going to be an interesting rest of the week, that's for sure. What's coming next? Well, with the Fed's dovish stance still in play, I think we'll see some more volatility in the currency markets.
Central Banks Weigh In
But what's really caught my attention is the Fed's latest move. According to ForexLive, the Federal Reserve Bank of New York's Survey of Consumer Expectations showed one-year-ahead inflation expectations jumping to 3.4%, up 0.4 percentage points from February's 3.0%. And let's not forget the Fed Goolsbee Speech, which is scheduled for later today - it's going to be a high-impact event, so you'll want to keep an eye on that. The New Zealand Dollar/Euro closed at 0.4926, also unchanged, while the New Zealand Dollar/British Pound closed at 0.4304. FXStreet pointed out that the AUDUSD moved higher yesterday, pushing back above its 100- and 200-hour moving averages, which is a signal that momentum is trying to shift back in favor of the buyers.
And speaking of buying, the US Dollar/Mexican Peso closed at 17.7618, unchanged from yesterday. But with the Durable Goods Orders and Durable Goods Orders Ex Transp events scheduled for earlier today, it's likely we'll see some movement in the US Dollar soon. BNY's Head of Markets Macro Strategy Bob Savage reports that Eurozone data and European Central Bank commentary point to rising downside risks for the Euro, thanks to the Iran war and energy shock. It's going to be an interesting rest of the week, that's for sure. What's coming next? Well, with the Fed's dovish stance still in play, I think we'll see some more volatility in the currency markets.