Forex News

21:39:46 18-04-2024

Forex Today: The Feds tighter-for-longer stance supports the Dollar

Further hawkish comments from Fed speakers lent extra legs to the Greenback and sparked a decent bounce in US yields, while the ECB's officials continued to advocate the start of the banks easing programme in the summer.

Here is what you need to know on Friday, April 19:

The Greenback regained upside traction and lifted the USD Index (DXY) back to the area beyond 106.00. There will no data releases on the US docket on April 19 other than the speech by Chicago Fed A. Goolsbee.

EUR/USD resumed its decline and revisited the 1.0640 zone after faltering around 1.0690 during early trade. The euro calendar will be empty at the end of the week.

In line with its risk-linked peers, GBP/USD headed southwards and retested the 1.2430 zone. Retail Sales in March and speeches by BoEs Ramsden and Breeden are also due on April 19.

USD/JPY kept its recent consolidative mood well and sound above the 154.00 hurdle. In Japan, the March Inflation Rate is expected on April 19.

AUD/USD succumbed to the Dollars rebound and receded to the low 0.6400s. The are no data releases in Australia on April 19.

WTI extended its drop for the third session in a row following demand concerns, the stronger dollar and higher US crude oil inventories.

Gold prices reversed two daily pullbacks in a row on the back of persistent geopolitical concerns. Silver prices added to Wednesdays small uptick and maintained the trade above the $28.00 mark per ounce.

News provided by the portal FXStreet