Rising appetite for the risk-linked space further weighed on the US Dollar, while discouraging US PMIs also kept the currency depressed. For now, the ECB is expected to cut interest rates in June, while the Fed is still considered to cut rates in September.
Here's what you need to know on Wednesday, April 24:
Bearish pressure dragged the dollar to multi-day lows amid widespread gains in risk assets. Durable goods orders and weekly mortgage applications will be released on April 24.
EUR/USD reached new highs, at the same time reclaiming the zone above the 1.0700 barrier. On April 24, the business climate in Germany will be published, according to the IFO Institute.
GBP/USD surpassed the 1.2400 barrier with some conviction, leaving behind a three-day negative streak. On April 24, the CBI Industrial Trends Orders will be published exclusively in the United Kingdom.
USD/JPY hit a new 34-year high near 154.90 amid fresh swing and speculation about foreign exchange market intervention. The Japanese calendar will be empty on April 24.
AUD/USD regained additional bullish traction and approached the key 0.6500 zone, or multi-day highs. The RBA's inflation rate and monthly CPI indicator are expected in Oz on April 24.
WTI added to the auspicious start to the week and surpassed the $83.00 per barrel barrier amid strong European PMI numbers, prospects for Fed rate cuts and additional sanctions against Iranian oil.
Gold managed to rebound from multi-day lows near $2,290 per troy ounce, amid declining demand for safe-haven assets and diminishing geopolitical effervescence. After bottoming at three-week lows near $26.70, Silver prices regained $27.00 and rose, ending the session with decent gains.
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.
