The dollar hit new highs amid rising yields and firmer speculation about a Fed rate cut later in the year. Meanwhile, lingering geopolitical concerns kept price action in the risk complex depressed.
Here's what you need to know on Wednesday, April 17:
The Dollar maintained its bullish stance and reached new highs for 2024, settling around 106.50 on the USD Index (DXY). On April 17, the usual Weekly Mortgage Applications will be released, followed by the MBA, the Fed Beige Book, and Long-Term ICT Net Flows.
EUR/USD extended its bearish note to the limits of the 1.0600 level, marking new lows of the year. On April 17, the final inflation rate in the Euro bloc will be known.
GBP/USD alternated gains with losses and approached the 1.2400 area, or new annual lows. In the UK, the inflation rate for the month of March will be published on April 17.
USD/JPY reached new highs near 154.80 on rising US yields and a slight rally in the Dollar. In Japan, the Reuters Tankan index and trade balance figures will be published on April 17.
The AUD/USD pair fell for the third consecutive session, briefly breaking below the 0.6400 support. Westpac's leading index will be published on April 17.
WTI maintained the bullish trend, always in the middle of the consolidative trend of several sessions around $85.00 per barrel.
Gold prices added to Monday's rise and flirted with $2,400 per troy ounce. Silver, meanwhile, was unable to sustain a move towards the $29.00 per ounce area and ended the session with sharp losses.
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.
