U.S. Dollar Is Flat After JOLTs Job Openings Report: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY

U.S. Dollar Is Flat As Traders Focus On Tariffs

U.S. Dollar Index is mostly flat as traders react to JOLTs Job Openings report. The report showed that JOLTs Job Openings decreased from 7.74 million in January to 7.568 million in February, compared to analyst forecast of 7.63 million. From a big picture point of view, forex traders are waiting for the tariff announcement, which will be made tomorrow.

U.S. Dollar Index remains stuck below the resistance level at 104.30 – 104.50. A move above the 104.50 level will push U.S. Dollar Index towards the next resistance at 105.50 – 105.70.

EUR/USD Declines As Euro Area Inflation Rate Drops To 2.2%

EUR/USD pulls back as traders focus on inflation data from the EU. Inflation Rate declined from 2.3% in February to 2.2% in March, compared to analyst forecast of 2.3%. Core Inflation Rate decreased from 2.6% to 2.4%, compared to analyst consensus of 2.5%.

A successful test of the support at 1.0760 – 1.0775 will open the way to the test of the next support level at 1.0630 – 1.0650.

GBP/USD Is Stuck Below The Resistance At 1.2935 – 1.2950

GBP/USD is flat as traders wait for additional catalysts. From the technical point of view, GBP/USD continues its attempts to settle above the resistance at 1.2935 – 1.2950.

If GBP/USD moves above the 1.2950 level, it will head towards the next resistance level at 1.3050 – 1.3070.

USD/CAD Tests Support At 1.4330 – 1.4350

USD/CAD pulled back despite the disappointing Manufacturing PMI report from Canada. The report indicated that Manufacturing PMI declined from 47.8 in February to 46.3 in March, compared to analyst forecast of 47. Numbers below 50 show contraction.

In case USD/CAD stays below the 1.4330 level, it will head towards the next support at 1.4180 – 1.4200.

USD/JPY Is Losing Ground As Treasury Yields Fall

USD/JPY tests support at 149.00 – 149.50 as traders focus on falling Treasury yields.

If this test is successful, USD/JPY will head towards the next support, which is located in the 146.50 – 147.00 range.

For a look at all of today’s economic events, check out our economic calendar.