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US dollar retreats to start the week remains the focus on geopolitics

US dollar retreats to start the week remains the focus on geopolitics

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Here is what you need to know on Monday, March 3:

The US dollar (USD) Difficulties to find demand at the beginning of the week because investors continue to evaluate the latest geopolitical developments. Before the ISM Manufacturing PMI report from the USA, preliminary inflation data of the euro zone are presented in the economic calendar in the economic calendar.

US dollar price today

The following table shows the percentage change in the US dollar (USD) compared to the main currencies listed today. The US dollar was weakest compared to the euro.

USD EUR GBP Jpy Cad Aud NZD CHF
USD -0.29% -0.17% -0.08% -0.01% -0.16% -0.01% -0.07%
EUR 0.29% 0.00% -0.02% 0.11% 0.02% 0.09% 0.04%
GBP 0.17% -0.01% 0.08% 0.09% 0.02% 0.09% 0.04%
Jpy 0.08% 0.02% -0.08% 0.30% -0.02% 0.13% 0.02%
Cad 0.01% -0.11% -0.09% -0.30% 0.00% -0.00% -0.05%
Aud 0.16% -0.02% -0.02% 0.02% 0.00% 0.07% 0.02%
NZD 0.00% -0.09% -0.09% -0.13% 0.00% -0.07% -0.05%
CHF 0.07% -0.04% -0.04% -0.02% 0.05% -0.02% 0.05%

The heat card shows percentage changes to the main currencies against each other. The basic currency is selected from the left column, while the quote currency is selected from the upper row. For example, if you select the US dollar from the left column and move along the horizontal line to the Japanese yen, the percentage change that is displayed in the box is shown USD (base)/JPY (quote).

The meeting of US President Donald Trump with the Ukrainian President Volodymyr Zelenskyy became a dispute late Friday and Trump canceled the signing of a mineral contract, which could have paved the way to a Russia-Ukraine cotton arrest and possibly a ceasefire. At the weekend, Trump confirmed that on Tuesday you will impose an additional 10% tariff on Chinese imports as originally planned. In the early Monday, Global Times reported that China rated countermeasures to additional US tariffs in response. After he had reached his highest level near 107.70 in the late Friday, the USD index will remain under 107.50 on Monday.

During the Asian trade times, the data from China showed that Caixin's PMI improved to 50.8 in February in February in February. AUD/USD Registered losses for six consecutive trading days and lost more than 2%in the previous week. The couple lasts stable over 0.6200 on Monday in the European morning.

The harmonized index of consumer prices (HICP) in the euro area will increase by 2.6% annually in February. EUR/USD Shops over 1,0400 a day to start the European meeting on Monday after it was closed in a negative area for two weeks in a row.

GBP/USD On Friday on Friday and made a three -week winning streak. The couple stays relatively calm and acts at around 1.2600 on Monday.

USD/CAD About 1.7% was increased last week before it became a consolidation phase near 1.4450 on Monday. The 25% tariffs of the Trump government for Canadian imports are expected to come into force on March 4.

USD/JPY Keep around 150.50 in the European morning. In the early Asian trade times on Tuesday, the Japanese economic calendar for January will contain unemployment number.

Gold lost more than 2.5% and closed a week in a negative area for the first time since the end of December. Xau/USD is liable on Monday at modest recovery gains over $ 2,860.

FAQs tariffs

Customs are customary tasks that are charged for certain goods imports or a category of products. Tariffs are intended to help local manufacturers and manufacturers to be more competitive on the market by offering a price advantage over similar goods that can be imported. Customs are often used as instruments of protectionism as well as commercial barriers and import rates.

Although both tariffs and controls generate government income to finance public goods and services, they have several awards. The tariffs are paid in advance in the entry port, while taxes are paid at the time of purchase. A taxpayer and company will be levied by taxes while the tariffs are paid by importers.

There are two schools of thought among economists in relation to the use of tariffs. While some argue that tariffs are necessary to protect domestic industries and tackle commercially, others see them as a harmful instrument that can increase the prices in the long term and lead to a harmful trade war by encouraging tit-for-tat tariffs.

During the head of the presidential election in November 2024, Donald Trump made it clear that he intended to use tariffs to support the US economy and the American producers. In 2024, Mexico, China and Canada made 42% of the total US imports. During this time Mexico stood out as a top exporter with $ 466.6 billion, according to the US Census Bureau. Therefore, Trump wants to concentrate on these three nations if they impose tariffs. He also plans to use the income generated by tariffs to reduce personal income taxes.

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