March 5th 2024

The dollar remains stable as a safe haven currency

In the foreign exchange market, the week begins with a calm day, where the absence of top-level macroeconomic data has provided little volatility to the market. The EUR/USD pair is in a narrow trading range between 1.0840 and 1.0865.

On the American side, the focus is on Friday's session and the monthly employment data from non-agricultural payrolls. Currently, expectations of possible rate cuts in June are above 52%. In the United States today we will know the data of the final S&P Global services PMI, the ISM services PMI for February and factory orders for January.

From the rest of the panel, the Pound began the week trading in a narrow range known for much of the session at levels of 0.8550 and 0.8565. The Japanese Yen crossed 163.52 during Monday's session, but today it dawned correcting at 163, while the Swiss Franc in its crossing against the Euro marked a new annual high at 0.9622.

The post The dollar remains stable as a safe haven currency Appeared first on Blog Export your value.

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