Dollar and gold rise on geopolitical risks

The economic calendar today features several noteworthy releases, including U.S. construction market data and updates on import and export prices. Investors are also closely watching the February industrial production figures, previously at 2.00% year-over-year. Meanwhile, Canada’s inflation report is set to provide further insight into monetary policy expectations.

In geopolitical news, former U.S. President Donald Trump has announced a scheduled conversation with Russian President Vladimir Putin to discuss potential steps toward ending the ongoing conflict. Trump suggested that progress has been made, though unresolved issues remain. The meeting, expected today, could impact market sentiment if any substantial developments emerge.

Currencies

The U.S. Dollar remains dominant in Tuesday’s session, strengthening across the board against major counterparts, including the euro (EUR), Australian dollar (AUD), New Zealand dollar (NZD), Canadian dollar (CAD), and British pound (GBP). The greenback's gains reflect cautious market sentiment in the markets.

EUR/USD is under pressure, slipping toward 1.0900 as investors anticipate the German vote on fiscal spending.

Commodities

Gold extends its bullish momentum, trading near the $3,015 mark—an all-time high. Persistent geopolitical risks, concerns over a potential U.S. recession, and expectations of Federal Reserve rate cuts continue to fuel demand for the safe-haven asset. This marks its fifth positive session in the last six, underscoring ongoing investor caution amid global uncertainties.

Looking ahead, market participants will remain focused on upcoming macroeconomic releases, geopolitical headlines, and central bank signals for further direction.