Here is what you need to know on Thursday, March 14: Major currency pairs continue to fluctuate in relatively tight ranges in the second half of the week.
After posting small losses on Wednesday, the US Dollar Index stays calm below 103.00 in the European morning on Thursday as investors await producer inflation and Retail Sales data for February. US Retail Sales: Economists expect consumption to rebound in February after shaky start of the year. The benchmark 10-year US Treasury bond yield extended its recovery onWednesday and rose back above 4.2% for the first time in over a week. Early Thursday, the 10-year US yield holds steady at around 4.
GBP/USD struggles to find direction and extending its sideways grind at around 1.2800 in the European morning on Thursday. Gold managed to erase a large portion of Tuesday's losses on Wednesday but had a hard time gathering further bullish momentum amid rising US yields. XAU/USD was last seen trading marginally lower on the day slightly below $2,170. Gold price trades with mild negative bias amid modest USD strength, lacks follow-through.
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