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U.S. Dollar Gains Ground As Composite PMI Beats Estimates: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY

Key Points:

EUR/USD pulls back as Euro Area Composite PMI misses analyst estimates.

GBP/USD is mostly flat, supported by the better-than-expected UK Services PMI report.

USD/CAD is moving lower as traders react to recent reports about Trump's tariff plans.

U.S. Dollar Index gains ground as traders react to the better-than-expected Composite PMI report. The report showed that Composite PMI increased from 51.6 in February to 53.5 in March, compared to analyst forecast of 51.5.

Currently, U.S. Dollar Index is trying to settle above the resistance at 104.30 – 104.50. In case this attempt is successful, it will head towards the next resistance level, which is located in the 105.50 – 105.70 range.