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HomeFinance NewsSteady dollar performance holds steady throughout the day.

Steady dollar performance holds steady throughout the day.

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Traders are in a holding pattern today as they eagerly await the release of US CPI data tomorrow. This anticipation is causing price action to remain relatively stagnant as the new week begins. The dollar is showing some stability, but overall movements are lackluster.

EUR/USD is stuck just below the 1.0800 mark, while USD/JPY is hovering just above 149.00 without much momentum to push towards 150.00. GBP/USD is trading within its recent consolidation range of 1.2600 to 1.2800 as it awaits its next move. USD/CAD is holding just under its 200-day moving average of 1.3475 after seeing a rejection of its January highs last week, and AUD/USD is trading around the 0.6500 mark with limited upside due to its 100-day moving average at 0.6535.

This lack of direction can also be seen in other markets, as US futures are relatively flat and 10-year Treasury yields are down only 1 basis point to 4.177%. Markets are waiting for the US CPI data to provide some much-needed guidance and direction.

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