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The US Dollar (USD) is steadying in a very tight range in the US Personal Consumption Expenditures (PCE) Price Index data release aftermath. The Greenback is moving up and down around 104.00,
The Mexican Peso appreciated against the US Dollar in early trading on Thursday after an inflation report in the United States was revealed, while Initial Jobless Claims rose above expectations for the first time in four consecutive weeks.
The blue-chip index NSE Nifty50 added 0.14% to 21,983, while the BSE Sensex gained 0.27% to 72,500. Both the benchmarks gained about 1% in February. In a volatile trading session on monthly derivative expiry, Nifty ended 32 points higher just above the 21-day Exponential Moving Average (21EMA). However, the prevailing sentiment appears somewhat negative from the current level.
USD/CAD rose to an intraday high of 1.3597 before backsliding to 1.3541 after US Personal Consumption Expenditure Price Index (PCE) inflation figures printed exactly as markets were hoping.
The US Dollar Index (DXY) is trading near 104 and keeps gaining traction due to markets delaying rate cuts from the Federal Reserve (Fed).