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 bank’s easing programme in the summer.
Silver clings to modest gains of 0.29% and stays above $28.00 for the sixth consecutive trading day amid higher US Treasury bond yields and a strong US Dollar.
The US Dollar Index (DXY) rose toward 106.25 on Thursday and appears on track to test the November 1 high near 107.10.
The Pound Sterling is virtually unchanged against the US Dollar in the mid-North American session, amid a scarce economic docket in the United Kingdom (UK) if not interrupted by Bank of England (BoE) member Megan Greene.
The Euro recovery has been capped a few pips shy of the 1.0700 area, and the pair pulled lower on Thursday, to hit intra-day lows at 1.0645.
Speaking at the Greater Fort Lauderdale Alliance in Florida on Thursday, Atlanta Federal Reserve Bank President Raphael Bostic noted that U.S.
The Dow Jones Industrial Average (DJIA) is finally posting gains in January as investors digest the strong US economic outlook and pare back their interest rate cut hopes.
The Mexican Peso depreciated against the US Dollar as sentiment shifted sour on Thursday.
The Canadian Dollar (CAD) is trading higher for the second consecutive session on Thursday, yet with weaker bullish momentum.
United States 4-Week Bill Auction rose from previous 5.27% to 5.28%
United States EIA Natural Gas Storage Change registered at 50B, below expectations (54B) in April 12
The NZD/USD pair struggles to extend recovery above the immediate resistance of 0.5920 in Thursday’s early American session.
United States Existing Home Sales (MoM) came in at 4.19M below forecasts (4.2M) in March
United States Existing Home Sales Change (MoM): -4.3% (March) vs previous 9.5%
New York Federal Reserve President John Williams said on Thursday that he doesn't feel an urgency to cut rates, per Reuters.
Silver (XAG/USD) has broken out of the narrow range it was trapped in since the start of 2023, which ran from between roughly $21.00 and $26.00, and risen up to the top of a larger consolidation.
The EUR/GBP pair extends its recovery to 0.8550 in the early American session on Thursday.
Russia Central Bank Reserves $ up to $600.7B from previous $598.3B
US citizens that applied for unemployment insurance benefits increased by 212K in the week ending April 13 according to the US Department of Labor (DoL) on Thursday.
AUD/USD climbs about a tenth of a percent into the 0.6440s on Thursday, continuing the correction of the steep sell-off in the pair at the start of April.
French central bank head and European Central Bank (ECB) policymaker Villeroy de Galhau said on Thursday that they could cut rates in the next meeting, barring a major surprise, per Reuters.
The Diffusion Index for current general activity of the Federal Reserve Bank of Philadelphia's Manufacturing Survey rose sharply to 15.5 in April from 3.2 in March.
Canada Employment Insurance Beneficiaries Change (MoM) fell from previous 0.3% to 0% in February
In an interview with Bloomberg on Thursday, European Central Bank (ECB) Governing Council member Klaas Knot said that he expects a "cautious slide" in key rates after June.
United States Philadelphia Fed Manufacturing Survey came in at 15.5, above forecasts (1.5) in April
United States Continuing Jobless Claims fell from previous 1.817M to 1.812M in April 5
United States Initial Jobless Claims came in at 212K below forecasts (215K) in April 12
United States Initial Jobless Claims 4-week average increased to 214.5K in April 12 from previous 214.25K
Oil prices retreat further on Thursday, extending the decline triggered on Wednesday after a string of headlines from the US President Joe Biden administration over tariffs and sanctions.
USD/CAD is trading in the 1.3750s on Thursday, down roughly a tenth of a percent on the day as it continues to backtrack after the strong rally at the beginning of April.
The USD/CHF pair falls below the round-level support of 0.9100 in Thursday’s European session.
The Mexican Peso (MXN) traces a flat line on most charts on Thursday, as traders digest the previous day’s gains prompted by comments from Banxico Deputy Governor Jonathan Heath.
Analysts at TD Securities don't think that the latest employment data from Australia will bring the Reserve Bank of Australia (RBA) closer to lowering its policy rate.
The US Dollar Index (DXY), which tracks the US Dollar against six major currencies, is facing issues with several parties screaming bloody murder on the stronger Greenback. This week, European Central Bank (ECB) President Christine Lagarde was the
Analysts at Rabobank share a brief outlook for the USD/JPY pair.
The USD/JPY pair recovered intraday losses and rebounds to 154.40 in Thursday’s European session.
The Rabobank Research Team provided insights on Australia’s employment data for March and its implications on the Reserve Bank of Australia's (RBA) interest rate outlook.
Gold price (XAU/USD) rebounds to $2,380 in Thursday’s European session after posting losses on Wednesday.
Eurozone Construction Output w.d.a (YoY) down to -0.4% in February from previous 0.8%
Eurozone Construction Output s.a (MoM) up to 1.8% in February from previous 0.5%
Eurozone Construction Output s.a (MoM) up to 0.8% in February from previous 0.5%
Spain 10-y Obligaciones Auction rose from previous 3.19% to 3.251%
Spain 3-y Bond Auction up to 2.986% from previous 2.896%
Silver prices (XAG/USD) rose on Thursday, according to FXStreet data.
The Pound Sterling (GBP) extends its upside to 1.2480 in Thursday’s European session.
Gold prices rose in India on Thursday, according to data from India's Multi Commodity Exchange (MCX).
EUR/USD is trading in the 1.0680s on Thursday, marginally higher on the day, building on the U-turn it began midweek after touching down at the 1.0601 lows of April.
Eurozone Current Account n.s.a rose from previous €24.9B to €31.6B in February
Eurozone Current Account s.a below forecasts (€45.2B) in February: Actual (€29.5B)
NZD/USD continues to gain ground for the second consecutive day, hovering around 0.5930 during the early European session on Thursday.
"If our updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission were to further increase our confidence that inflation is converging to our target in a sustained manner, it would be appropriate to reduce the current level of monetary policy restriction," European Central Bank Vice President Luis de Guindos said on Thursday, per Reuters.
Here is what you need to know on Thursday, April 18: The US Dollar (USD) stays under modest selling pressure in the early European session on Thursday.
Silver price (XAG/USD) gains momentum near $28.50 on Thursday during the early European session.
People’s Bank of China’s (PBOC) Deputy Governor said on Thursday that they “will keep the Yuan exchange rate basically stable.” Additional comments Recent improvements in China's economy will provide support Yuan exchange rate.
The EUR/USD pair extends its recovery near 1.0688 on Thursday during the early European trading hours.
FX option expiries for Apr 18 NY cut at 10:00 Eastern Time, via DTCC, can be found below - EUR/USD: EUR amounts 1.0625 610m 1.0635 618m 1.0640 498m 1.0650 909m 1.0700 910m - GBP/USD: GBP amounts 1.2390 716m 1.2400 445m 1.2450 706m - USD/JPY: USD amounts 153.00 6.1b 153.25 1.1b 153.80 980m 154.50 1b 155.00 896m - USD/CHF: USD amounts 0.9000 928m - AUD/USD: AUD amounts 0.6370 596m 0.6435 1.5b - USD/CAD: USD amounts 1.3750 993m NZD/USD: NZD amounts 0.5900 745m 0.5995 2.3b EUR/GBP: EUR amounts 0.8490 800m
Switzerland Exports (MoM): 22111M (March) vs previous 22474M
Switzerland Imports (MoM) fell from previous 18812M to 18569M in March
Switzerland Trade Balance above expectations (3220M) in March: Actual (3542M)
USD/CAD extends its losses for the second consecutive session on Thursday, trading around 1.3750 during the Asian session.
Bank of Japan (BoJ) board member Asahi Noguchi said on Thursday that the “main scenario is that future rate hikes are likely to be slow, but that depends on economic data.” Additional quotes Will take into account cost-driven inflation and policy adjustment if higher wages lead more to higher prices.
Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $82.25 on Thursday.
Netherlands, The Unemployment Rate s.a (3M) dipped from previous 3.7% to 3.6% in March
Japan Tertiary Industry Index (MoM) came in at 1.5%, above forecasts (0.8%) in February
Japan Tertiary Industry Index (MoM) came in at 1.6%, above forecasts (0.8%) in February
Gold price recovers its recent losses, trading around $2,370 per troy ounce during the Asian session on Thursday.
Indian Rupee (INR) recovers some lost ground on Thursday. The INR dropped to a record low on Wednesday, weighed by the worries that escalating tensions in the Middle East could disrupt supplies and boost oil prices.
Japan’s top currency diplomat Masato Kanda said on Thursday that the G7 statement reconfirmed commitment on forex on the back of the stance put forward by Japan.
The Australian Dollar (AUD) continues to gain ground on the second consecutive day on Thursday.
Bank of Japan (BoJ) board member Asahi Noguchi said on Thursday that the “focus now is on the pace at which the policy rate will be adjusted and at what level it will eventually stabilize.” Additional quotes Long-term neutral interest rate is highly likely to be lower than that of other countries.
Australia Part-Time Employment down to -34.5K in March from previous 38.3K
Australia Participation Rate fell from previous 66.7% to 66.6% in March
Australia Employment Change s.a. came in at -6.6K below forecasts (7.2K) in March
Australia National Australia Bank's Business Confidence (QoQ) increased to -2 in 1Q from previous -6
Australia Unemployment Rate s.a. below expectations (3.9%) in March: Actual (3.8%)
Australia Full-Time Employment dipped from previous 78.2K to 27.9K in March
USD/JPY extends its losses for the second successive session, trading around 154.30 during the Asian hours on Thursday.
The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Tuesday at 7.1020 as compared to the previous day's of 7.1025 and 7.2281 Reuters estimates.
The GBP/USD pair trades on a softer note around 1.2450 during the early Asian trading hours on Thursday.
Japan Foreign Investment in Japan Stocks declined to ¥1740B in April 12 from previous ¥1764.4B
Federal Reserve (Fed) Governor Michelle Bowman said Wednesday that inflation progress slows and possibly halts.
The EUR/USD pair edges higher to 1.0672 on Thursday during the early Asian session.
The GBP/JPY consolidates at around current exchange rates, unable to break above/below the 191.60/192.80 range, following an inflation report in the UK that sparked a rally in the GBP/USD pair.
The European Central Bank (ECB) policymaker Bostjan Vasle said on Wednesday that the deposit rate should be "much closer" to 3% by the end of the year from a record high of 4% currently if disinflation continues as expected.
Federal Reserve Bank of Cleveland President Loretta Mester spoke on "An update from the Federal Reserve” on Thursday.
The NZD/USD stands recovered to 0.5919, it seeing 0.60% gains.
Australia will publish its monthly employment report first thing Thursday.
Silver’s prices remain in positive territory but continued to register higher tails in the daily chart, signaling buyers' failure to commit to higher prices above the May 18, 2021, high of $28.74.