Here is the information regarding forex today that you need to know as a reference for currency trading. The European Central Bank (ECB) will announce its monetary policy decision and revise macroeconomic projections. In the United States, economic data will involve weekly Initial Jobless Claims, Unit Labor Costs for Q4, and January Trade Balance. Jerome Powell, Chairman of the Federal Reserve, will testify before the Senate Banking Committee.
 
The US dollar is experiencing selling pressure as Powell testifies before the House Financial Services Committee. Powell stated that the decision to lower interest rates will depend on economic data. Although the USD index fell 0.4% on Wednesday, the yield on 10-year US Treasury bonds remained stable around 4.1%. Currently, the index is trading slightly lower at around 103.20.
 
The EUR/USD currency pair rose and reached its highest level since late January above 1.0900 on Wednesday. The ECB is expected not to change the key interest rate at the March policy meeting. ECB President Christine Lagarde will provide comments and answer questions at a press conference at 13:45 GMT (21:45 WIB).
 
Junko Nakagawa, a member of the Bank of Japan board, stated that the chances of reaching 2% inflation are increasing, without needing to wait for the results of wage talks in August to end negative interest rates. BoJ Governor Kazuo Ueda emphasized the possibility of seeking an exit from stimulus while achieving the inflation target. USD/JPY has sharply declined.
 
Chinese data shows that the trade surplus increased to $125.16 billion from $75.34 billion. AUD/USD continues to rise near 0.6600 after Wednesday's increase.
 
GBP/USD is struggling to gather bullish momentum during European trading hours, but strengthened on Thursday morning due to broad USD weakness.
 
Regarding gold prices today in the forex realm, gold reached a new high of $2,161 as US bond yields fell, stabilizing around $2,155 in the European morning.
 
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That is the forex news regarding “Seputar Forex Hari Ini: Gerak Euro Tertahan Keputusan ECB, Yen Tambah Kebut!” This analysis is based on views from fundamental and technical perspectives from reliable sources and is not a recommendation or solicitation. Always remember that this content aims to enrich readers' information. Always conduct independent research first regarding other forex information as a reference for your trading.
 
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