Ella 
U.S. economic data boosted the dollar, with the dollar index paring early losses. The U.S. dollar index , which measures a basket of U.S. currencies against six other currencies, was up 0.10% at 104.32.
The U.S. Census Bureau reported that durable goods orders increased 1.4% month-on-month in February, higher than expectations of 1.1% and the previous value of -0.9%. Core durable goods orders came in at 0.4% m/m, up from -0.3% and up from -0.4% expected. Elsewhere, the Conference Board (CB) showed that the consumer confidence index remained stable in March, but fell from 104.8 to 104.7, a decrease from the previous month. Surveys show Americans see rising prices and soaring borrowing costs.
EUR/USD fundamentals remained unchanged after the data was released. Money market traders speculate that the Federal Reserve and the European Central Bank may cut interest rates in June. Meanwhile, traders are looking for clues in speeches from Federal Reserve and European Central Bank officials.
On Tuesday, ECB official Yannis Stoumaras commented that a rate cut in June has become a consensus. Madis Muller echoed some of his comments, saying the ECB was close to a stage where it could cut interest rates.
In the United States, Federal Reserve officials continue to lay the groundwork for easing policy, but Fed board officials remain divided on easing policy. Atlanta Fed President Raphael Bostic noted that one rate cut is expected in 2024, not two. Meanwhile, Federal Reserve official Lisa Cook said that easing policy too early would increase the risk that inflation will remain stubborn.
