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The dollar retreated on Tuesday, extending declines after a soft reading on U.S. consumer confidence and a drop in U.S. yields weighed, while optimism for more spending in Germany helped lift the euro. The greenback extended declines after the Conference Board said its consumer confidence index dropped 7 points, its largest fall since August 2021, to 98.3, well short of the 102.5 estimate of economists polled by Reuters. The dollar index, which measures the greenback against a basket of currencies, fell 0.39% to 106.33, just off the two-month low of 106.12 hit on Monday, with the euro up 0.37% at $1.0505.

"There's a lot of uncertainty, a lot of kind of dust in the air, and before the Fed can go back to cutting the rates, I feel and have expressed that we got to get a little dust out of the air," Goolsbee said in an interview on Chicago public TV station WTTW.

President Donald Trump added a new wrinkle to ongoing talks that he says may help end the war in Ukraine: new "economic development" with Russia.

(Bloomberg) -- OPEC+ is expected to revive some curtailed crude production in April following US President Donald Trump’s appeals to the group to lower prices, said Jason Prior, Bank of America Corp.’s head of oil trading. Most Read from BloombergTrump Targets $128 Billion California High-Speed Rail ProjectTrump Asserts Power Over NYC, Proclaims ‘Long Live the King’NYC’s Congestion Pricing Pulls In $48.6 Million in First MonthNYC to Shut Migrant Center in Former Hotel as Crisis EasesAs Visitors

(Bloomberg) -- Bank of England policymaker Swati Dhingra has elaborated on her decision to call for interest rates to be slashed, saying taking a “gradual” approach would still leave monetary policy as a drag on the economy this year.Most Read from BloombergTrump Targets $128 Billion California High-Speed Rail ProjectTrump Asserts Power Over NYC, Proclaims ‘Long Live the King’NYC’s Congestion Pricing Pulls In $48.6 Million in First MonthNYC to Shut Migrant Center in Former Hotel as Crisis EasesA

(Bloomberg) -- Oil edged higher in a largely aimless session amid a slew of geopolitical uncertainties, including Russia-Ukraine peace talks and a possible increase in Iraqi crude production.Most Read from BloombergTrump Targets $128 Billion California High-Speed Rail ProjectTrump Asserts Power Over NYC, Proclaims ‘Long Live the King’NYC’s Congestion Pricing Pulls In $48.6 Million in First MonthNYC to Shut Migrant Center in Former Hotel as Crisis EasesAs Visitors Discover Ghent, the City Is Tryi

The Federal Reserve's preferred measure of inflation likely decelerated in January, providing some reassurance that cost-of-living increases are slowing down to pre-pandemic levels.