Dollar eases as the danger temper picks up just a little, eyes on US retail gross sales

The dollar is now down on the day as we are seeing risk sentiment improve a little in European trading. S&P 500 futures have trimmed losses to 0.3% now, having been down from 0.7% earlier. That is seeing the dollar ease slightly across the board with EUR/USD notably up 0.2% to test waters above 1.0900 again:

Can the euro build on a break of the 200-week moving average (blue line) to push towards 1.1000 this week? That’s one of the bigger technical considerations to watch among dollar pairs this week, with the Fed also on the agenda.

Besides that, GBP/USD is up 0.3% to 1.2967 and USD/CAD down 0.1% to 1.4353 on the day currently. The antipodes are also faring well with AUD/USD seen up 0.4% to 0.6350 at the moment.

Despite the improvement in the risk mood, there’s still much caution to be heeded. We’ll have to deal with more Trump headlines surely later in the day but also key US data. And it will be a big one with February retail sales in focus.

There has been a theme of softening US data and it wouldn’t take much to dampen the mood and stir up recession jitters again. So, do be mindful of that to start the new week.