Expectations of heat until the evening, it turns out to be rain at noon.
The US dollar, which had excellent prospects after showing early signs last week, failed to start trading early this week well.
On the contrary, the king of currencies significantly depreciated on Monday yesterday and erased most of the gains made at the beginning of January 2025.
The situation is due to conflicting reports regarding the aggressive tariff plan of the future President of the United States (US), Donald Trump.
The report published by the Washington Post regarding Trump's tariff plan on all countries but only focused on critical sectors and US economic security, which created uncertainty among businessmen about the new trade policy.
However, Trump has denied the report on his social media platform, Truth Social.
He responded that the news published by the Washington Post with a non-existent source, which indicated that his policy would be changed again, was incorrect.
This uncertainty has invited a negative response from the US dollar, which fell as analysts placed expectations for its further strengthening.
Based on key indicators, the dollar index (DXY), which previously reached a peak of 109,500 points, fell to around 107,800 points yesterday.
Meanwhile, the US 10-year treasury yield is still seen hovering at 4.60%, the highest zone since May 2024.
The fall of the US dollar has given a breather to other major currencies such as the Euro and the Pound, which have managed to recover from last week's decline.
German inflation data, which recorded an increase in the European session yesterday, also provided additional support for the Euro.
The Australian and Canadian dollars are also on a positive track with yesterday's strengthening, but the Japanese yen weakened slightly in the Asian session this morning (Tuesday).
The market focus in the New York session tonight is on the ISM US services PMI survey as well as the JOLTS employment data, which will calculate the number of job openings in the United States in November 2024.
