Here is what you need to know on Tuesday, March 26:
Major currency pairs fluctuate in relatively tight ranges early Tuesday as investors refrain from taking large positions ahead of macroeconomic data releases from the US. Durable Goods Orders for February and Housing Price Index for January will be featured in the economic calendar in the American session and the Conference Board will publish the Consumer Confidence report. Market participants will also continue to keep a close eye on comments from central bank officials.
The US Dollar (USD) struggled to find demand at the beginning of the week, with the USD Index staging a downward correction following the previous week's rally. As Wall Street's main indexes closed the day marginally lower, the USD managed to find a foothold. In the meantime, the benchmark 10-year US Treasury bond yield gained 1% and snapped a four-day losing streak, further supporting the USD. The USD Index moves up and down in a narrow band slightly above 104.00 in the European morning on Tuesday, while US stock index futures trade modestly higher on the day.
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