Forex Today: US Dollar holds as markets eye FOMC Minutes, UK CPI and US PCE

💡 DMK Insight

With US markets closed for Presidents’ Day, currency pairs are likely to see muted volatility today. Traders should note that the lack of movement in major currency pairs could signal a consolidation phase, especially after recent fluctuations. This pause might be a strategic breather before the next wave of economic data releases, which could reignite volatility. Keep an eye on upcoming indicators like inflation reports or employment data, as they could shift sentiment quickly. Also, consider that while the US is offline, other markets may still react to global developments, potentially impacting forex pairs. If you’re trading, watch for any unexpected news from Europe or Asia that could lead to sudden price movements. The real story is how traders position themselves ahead of the next major data drop, so stay alert for any shifts in momentum as the week progresses.