U.S. dollar stable; modest trading range observed

The US dollar is showing little change against major currencies as trading begins in North America. The EURUSD, USDJPY, and GBPUSD pairs are all within 0.16% of where they closed yesterday. Overall, the ranges for these currencies are narrow compared to their recent averages. Today's trading could be quiet, but there is potential for movement if prices break through technical levels. Economic data from Canada is expected later with retail sales estimated to drop by 0.4%. The EU will release consumer confidence figures, while the Chicago Fed President is set to speak this morning. In Canada, Bank of Canada Governor Tiff Macklem discussed a flexible approach to monetary policy. He emphasized the need to react quickly to changing economic conditions. He warned that the country's economic stability might not last if external pressures from tariffs increase. In other news, Heathrow Airport is closed due to a fire in an electrical substation, and the closure may last until midnight. On global events, Hamas is reviewing a US peace proposal related to hostages, while Israel states that Hamas will lose more territory if it does not comply. In Germany, a significant debt reform bill was approved. Meanwhile, tensions remain high in Ukraine as attacks on gas infrastructure escalate. In US stock markets, there were losses after a volatile day yesterday. The Dow fell by 162 points, and other major indexes also closed lower. European markets also saw declines, with Germany's DAX down by nearly 0.7%. In the bond market, yields have dropped slightly across different maturities. Commodity prices are mixed, with crude oil and gold both decreasing. Bitcoin remains stable at around $84,044.