The Greenback managed to regain strong upside traction and bounced off recent three-year lows vs. its main peers despite persistent tariff jitters and further Trump-Powell effervescence.
Here is what you need to know on Wednesday, April 23:
The US Dollar Index (DXY) posted decent gains on Tuesday, reversing part of the Monday’s pessimism despite the mixed tone in US yields across the board. The weekly MBA Mortgage Applications are due, followed by the flash S&P Global Manufacturing and Services PMIs, New Home Sales, the EIA’s weekly report on US crude oil stockpiles, and the Fed’s Beige Book.
EUR/USD lost upside momentum following Monday’s yearly peaks, receding to the 1.1430 area in response to the firmer tone in the US Dollar. The advanced HCOB Manufacturing and Services PMIs in Germany and the Euroland will be released, seconded by the EMU’s Balance of Trade results and Construction Output.
GBP/USD slipped back to the low-1.3300s after failing to extend its rally north of tops around the 1.3420 zone. The Public Sector Net Borrowing figures are due along the advanced S&P Global Manufacturing and Services PMIs.
USD/JPY broke below the 140.00 support for the first time since September 2024, although it managed to stage a strong rebound later in the day. The preliminary Jibun Bank Manufacturing and Services PMIs are expected on the Japanese docket.
AUD/USD receded from yearly peaks near 0.6440 following the better tone in the Greenback. The flash S&P Global Manufacturing and Services PMIs are due on April 23.
WTI prices rebounded with certain conviction past the $63.00 mark per barrel despite the stronger Dollar and unabated concerns surrounding US tariffs.
Gold prices rose to a record high at $3,500 per troy ounce underpinned by safe-haven demand. However, the yellow metal retraced part of that advance in the latter part of the day. Silver prices added to Monday’s uptick, coming closer to the key $33.00 mark per ounce.
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The Greenback managed to regain strong upside traction and bounced off recent three-year lows vs. its main peers despite persistent tariff jitters and further Trump-Powell effervescence.
Here is what you need to know on Wednesday, April 23:
The US Dollar Index (DXY) posted decent gains on Tuesday, reversing part of the Monday’s pessimism despite the mixed tone in US yields across the board. The weekly MBA Mortgage Applications are due, followed by the flash S&P Global Manufacturing and Services PMIs, New Home Sales, the EIA’s weekly report on US crude oil stockpiles, and the Fed’s Beige Book.
EUR/USD lost upside momentum following Monday’s yearly peaks, receding to the 1.1430 area in response to the firmer tone in the US Dollar. The advanced HCOB Manufacturing and Services PMIs in Germany and the Euroland will be released, seconded by the EMU’s Balance of Trade results and Construction Output.
GBP/USD slipped back to the low-1.3300s after failing to extend its rally north of tops around the 1.3420 zone. The Public Sector Net Borrowing figures are due along the advanced S&P Global Manufacturing and Services PMIs.
USD/JPY broke below the 140.00 support for the first time since September 2024, although it managed to stage a strong rebound later in the day. The preliminary Jibun Bank Manufacturing and Services PMIs are expected on the Japanese docket.
AUD/USD receded from yearly peaks near 0.6440 following the better tone in the Greenback. The flash S&P Global Manufacturing and Services PMIs are due on April 23.
WTI prices rebounded with certain conviction past the $63.00 mark per barrel despite the stronger Dollar and unabated concerns surrounding US tariffs.
Gold prices rose to a record high at $3,500 per troy ounce underpinned by safe-haven demand. However, the yellow metal retraced part of that advance in the latter part of the day. Silver prices added to Monday’s uptick, coming closer to the key $33.00 mark per ounce.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
