Will the U.S. dollar remain strong?

Will the U.S. dollar remain strong?

30.03.2021

Yesterday, stock prices were mixed, resulting in a market characterized by flat stock prices, a strong U.S. dollar, and rising interest rates. The cryptocurrency Bitcoin rose to $62,000, with the rally seemingly driven by reports that major U.S. financial firm Fidelity had filed for a BTC ETF and that payment giant Visa was set to introduce payments using stablecoins.

In the foreign exchange market, Oceania currencies are once again on an upward trend, with the AUD/JPY pair recovering to 84.2. The AUD/USD pair has also risen, making the Australian dollar the strongest currency alongside the New Zealand dollar. Additionally, cross-yen pairs, which were weak during yesterday’s Asian trading session, have rebounded, leading to a trend of yen weakness. The USD/JPY pair is currently testing resistance around 109.96.

Today, at 3:00 PM, Germany’s Import Price Index; at 3:45 PM, France’s Consumer Confidence Index; at 4:00 PM, Switzerland’s KOF Leading Index; at 9:00 PM, Germany’s Consumer Price Index (flash estimate);the U.S. S&P Case-Shiller Home Price Index and remarks by U.S. Federal Reserve Vice Chair Quarles at 10:00 PM, the U.S. Consumer Confidence Index at 11:00 PM, and remarks by U.S. Federal Reserve Bank of New York President Williams at 3:30 AM. Amid month-end rebalancing, we will watch the situation carefully to see if the U.S. dollar’s rise continues.