Forex Today: US Dollar holds ground, Gold rebounds amid Trump’s tariffs tensions
The US Dollar (USD) recovered most of its intraday losses and trades broadly stable on Monday, after markets digested the Supreme Court’s decision agains United States (US) President Donald Trump's tariffs and his move to impose additional levies over the weekend.

Here is what you need to know on Tuesday, February 24:

The US Dollar (USD) recovered most of its intraday losses and trades broadly stable on Monday, after markets digested the Supreme Court’s decision agains United States (US) President Donald Trump's tariffs and his move to impose additional levies over the weekend. Gold benefited from a risk aversion and reached a three-week high above $5,200.

The US Dollar Index (DXY) is trading near the 97.70 level after the turmoil caused by the Supreme Court’s ruling against Trump’s tariffs. In retaliation, Trump announced 15% tariffs on global trade to keep trade deals afloat.

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 Australian Dollar.

USD EUR GBP JPY CAD AUD NZD CHF
USD -0.02% 0.02% -0.26% 0.10% 0.42% 0.37% -0.07%
EUR 0.02% 0.04% -0.27% 0.14% 0.44% 0.39% -0.05%
GBP -0.02% -0.04% -0.31% 0.08% 0.40% 0.34% -0.09%
JPY 0.26% 0.27% 0.31% 0.38% 0.69% 0.65% 0.21%
CAD -0.10% -0.14% -0.08% -0.38% 0.31% 0.26% -0.16%
AUD -0.42% -0.44% -0.40% -0.69% -0.31% -0.05% -0.49%
NZD -0.37% -0.39% -0.34% -0.65% -0.26% 0.05% -0.44%
CHF 0.07% 0.05% 0.09% -0.21% 0.16% 0.49% 0.44%

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 US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

EUR/USD is trading near the 1.1790 price zone, slightly in the red after receding from its gains after the Greenback regained traction.

GBP/USD is trading near the 1.3490 price region, muted after losing almost all its footing throughout the day amid trade uncertainty.

AUD/USD is trading near 0.7060, down by over 0.40% after the Australian Dollar (AUD) failed to capitalize on a weak US Dollar (USD) earlier in the day.

USD/JPY is trading near 154.60, as the Japanese Yen (JPY) strenghtened after a soft National Consumer Price Index (CPI) data for January has raised bets over an interest rate hike by the Bank of Japan (BoJ).

Gold is trading at $5,211, rising over 2% and reclaiming the $5,200 level amid a renewed appetite for safe-haven assets.

What’s next in the docket:

Wednesday, February 25:

  • Australian January CPI.

Thursday, February 26:

  • Tokyo February CPI.

Friday, February 27:

  • Swiss Q4 GDP.
  • Germany’s February flash CPI.
  • Germany’s February flash HICP.
  • Canadian Q4 GDP.
  • US Producer Price Index (PPI).

Gold FAQs

Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.

Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.

Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.

The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.

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실시간 시세

이름 / 기호
차트
% 변동 / 가격
GBPUSD
1일 변동
+0%
0
EURUSD
1일 변동
+0%
0
USDJPY
1일 변동
+0%
0

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