The dollar rally moderated, prompting a corrective move in the US Dollar Index (DXY) and some recovery in the risk-linked space, amid lingering geopolitical concerns and firm conviction of an ECB rate cut. in summer.
Here's what you need to know on Thursday, April 18:
The Dollar came under pressure and forced the US Dollar Index (DXY) to retreat from its recent highs. Weekly jobless claims, Philadelphia Fed manufacturing index, CB flash index and existing home sales will be released on April 18. Additionally, the Fed's Bowman, Bostic and Williams will give remarks.
The EUR/USD pair hit three-day highs thanks to renewed selling pressure in the USD and a risk-friendly environment in global markets.
GBP/USD regained its smile and revisited the 1.2450 level on favorable risk sentiment and expectations of a rate cut by the BoE at the end of the year.
USD/JPY traded on the defensive after two consecutive sessions of gains, although it managed well to stay above 154.00. In Japan, the weekly foreign bond investment and BoJ Noguchi speech are scheduled for April 18.
The AUD/USD pair snapped a three-session losing streak and rebounded from recent yearly lows below 0.6400. The release of the Australian labor market report takes center stage on April 18.
WTI fell noticeably and flirted with $82.00 per barrel due to easing geopolitical fears and a larger-than-estimated weekly build of US crude oil inventories.
Gold prices fell slightly below $2,400 per troy ounce as geopolitical jitters eased. Silver prices put Tuesday's sharp decline behind them and rebounded above $28.00 an ounce.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
