Dollar Weakens and Gold Surges on US Trade Uncertainty

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initially imposed after the Supreme Court last Friday struck down his global "reciprocal" tariffs.Losses in the dollar were limited after the Jan Chicago Fed National Activity Index and Feb Dallas Fed manufacturing outlook level of general business activity survey rose more than expected.  Also, Monday's equity market slump sparked some dollar liquidity demand.This Penny Stock Is Building a Strategic Silver Reserve. Should You Buy Shares Now to Bet on a Run in Silver Prices?Dollar Retreats and Gold Soars on Concern Over US Trade PoliciesHow Did Markets Open the Week?Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else.The US Jan Chicago Fed National Activity Index rose +0.39 to a 9-month high of 0.18, stronger than expectations of 0.01.US Dec factory orders fell -0.7% m/m, right on expectations.The US Feb Dallas Fed manufacturing outlook level of general business activity survey rose +1.4 to a 7-month high of 0.2, stronger than expectations of -0.5.Fed Governor Christopher Waller said his decision on whether to support an interest rate cut at the March FOMC meeting will hinge on labor market data for February.Swaps markets are discounting the odds at 5% for a -25 bp rate cut at the next policy meeting on March 17-18.The dollar continues to see underlying weakness as the FOMC is expected to cut interest rates by about -50 bp in 2026, while the BOJ is expected to raise rates by another +25 bp in 2026, and the ECB is expected to leave rates unchanged in 2026.EUR/USD (^EURUSD) on Monday rose by +0.04%.  The euro posted modest gains on Monday amid dollar weakness. Also, Monday's report that showed the German Feb IFO business climate survey rose more than expected to a 6-month high was bullish for the euro.The German Feb IFO business climate survey rose +1.0 to a 6-month high of 88.6, stronger than expectations of 88.3.Swaps are discounting a 2% chance of a -25 bp rate cut by the ECB at its next policy meeting on March 19.USD/JPY (^USDJPY) on Monday fell by -0.23%.  The yen moved higher on Monday, supported by a weaker dollar. Also, lower T-note yields on Monday were bullish for the yen.  Trading in the yen was below average on Monday, as markets in Japan were closed for the Emperor's birthday holiday.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P Futures6,905.00 +1.25 (+0.02%)Dow Futures49,226.00 -10.00 (-0.02%)Nasdaq Futures25,037.75 +9.00 (+0.04%)Russell 2000 Futures2,656.30 +1.30 (+0.05%)VIX19.55 -1.46 (-6.95%)Gold5,203.30 +27.00 (+0.52%)Trending tickersAMD Advanced Micro Devices, Inc. 213.84 +17.24 (+8.77%)ZETA Zeta Global Holdings Corp. 16.98 +2.00 (+13.35%)WDAY Workday, Inc. 130.23 +1.02 (+0.79%)ETH-USD Ethereum USD 1,893.27 +68.94 (+3.78%)F Ford Motor Company 14.20 +0.56 (+4.11%)PortfolioSign in to access your portfolioSign inTop gainersKEYS Keysight Technologies, Inc. 301.48 +56.48 (+23.05%)IBRX ImmunityBio, Inc. 11.55 +1.72 (+17.50%)UCTT Ultra Clean Holdings, Inc. 71.96 +10.55 (+17.18%)DRS Leonardo DRS, Inc. 43.82 +5.68 (+14.89%)BEAM Beam Therapeutics Inc. 32.29 +3.96 (+13.98%)Top losersCECO CECO Environmental Corp. 60.00 -17.68 (-22.76%)XMTR Xometry, Inc. 44.44 -12.71 (-22.24%)WHR Whirlpool Corporation 71.67 -11.54 (-13.87%)AWI Armstrong World Industries, Inc. 174.30 -18.53 (-9.61%)PLNT Planet Fitness, Inc. 82.61 -8.14 (-8.97%)Most activeNVDA NVIDIA Corporation 192.85 +1.30 (+0.68%)INTC Intel Corporation 46.12 +2.49 (+5.71%)PLUG Plug Power Inc. 1.9100 +0.0700 (+3.80%)IBRX ImmunityBio, Inc. 11.55 +1.72 (+17.50%)AMD Advanced Micro Devices, Inc. 213.84 +17.24 (+8.77%)Top economic eventsEarnings eventsMy earnings eventsEarnings events