The US Dollar extended its decline on Monday as traders await the latest change in inflation. The FED is actively monitoring inflation levels to decide its future monetary policy.
Looking at the US stock market developments, the Dow and S&P500 ended the day lower while the Nasdaq rose. Investor sentiment remains mixed following Silicon Valley Bank’s collapse.
Moreover, gold prices rallied as buyers managed to push prices above the $1900 psychological barrier.
Later today, the US CPI is expected to have declined in February from 0.5% down to 0.4%.
Therefore, high volatility will be likely following the release.
In the UK, the unemployment rate is seen at 3.8% compared to 3.7% previously, on the opposite, employment change forecasts are pointing to a decline.
Below, we will be analyzing the latest price action in the major currency pairs alongside gold.