The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades around 103.00 at the time of writing on Tuesday, after some comments from Secretary Scott Bessent.
Over the past few days, the overall risk-off sentiment had rather devalued the Greenback substantially, though since the strong Nonfarm Payrolls (NFP) released on Friday, the DXY has been climbing back. The question will be if the index can hold on to this recovery when more US data comes in.
On the economic calendar front, some light data is set to be published. The National Federation of Independent Business (NFIB) will release its Business Optimism Index for March. With the current tariffs narrative, markets will be sensitive to see how business sentiment is in the US, as this is often seen as a leading indicator.
Meanwhile US Secretary Scott Bessent said already 70 countries have reached out for negotiations. President Trump will be personally involved in these talks each time. Countries that did not escalate will get priority.
Meanwhile in Europe, the European President Ursula von der Leyen is open to negotiating with the US regarding the import tariffs announced last week by US President Donald Trump. However, she also made it clear that the EU is prepared to take countermeasures if necessary.
Source: FXStreet
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