Today, the dollar is experiencing subdued trading activity following a sell-off yesterday. It remains relatively weak against currencies within the dollar bloc and the Swiss franc, yet exhibits strength against other G10 currencies. Trading ranges have remained narrow.
Key events in the North American session include the release of minutes from the previous month's FOMC meeting, a $16 billion sale of 20-year Treasuries, and Nvidia's earnings report.
Gold prices are showing a fifth consecutive session of slight gains, potentially matching the longest streak since September-October 2022.
April WTI crude oil prices faced resistance at $78.55 yesterday and subsequent selling pressure today has pushed it to around $76.30.

Asia Pacific 
Japan's merchandise trade balance for January deteriorated compared to December, in line with seasonal patterns.
The dollar's trading range against the yen remains within Monday's levels, with consolidation around JPY 150.

Despite the Reserve Bank of Australia's reluctance to rule out another rate hike, market sentiment leans towards expectations of a cut, reflected in futures and swaps markets.
The Australian dollar is trading within a narrow range below $0.6575, with significant resistance around the $0.6600-25 zone.

Europe
Bank of England Governor Bailey noted the market's reasonable pricing of BOE policy trajectory. Market indicators suggest a 65% chance of a rate cut in June, with sterling consolidating above $1.2600.

The euro is facing challenges today, encountering resistance near $1.0820 and selling pressure pushing it to session lows around $1.0790 during early European trading.

America
The release of FOMC meeting minutes is anticipated later in the session. Recent CPI and PPI reports exceeding expectations support Chair Powell's cautious stance, echoed by other officials.

The Canadian dollar weakened by about 0.25% against the greenback, with the US dollar strengthening for a third consecutive session against the Canadian dollar, reaching CAD1.3530.