The US dollar, which had been going up a lot lately, slowed down today. This made the USD Index (DXY) go down a bit, and it also helped other risky investments recover some value. People are still worried about things happening around the world, but they’re starting to feel more confident that the European Central Bank might lower interest rates in the summer.
Thursday, April 18: Key Points You Shouldn’t Miss
The US dollar lost some strength, causing the USD Index (DXY) to drop from its recent highs. On April 18, we’ll see the usual weekly Initial Jobless Claims report, along with other important data like the Philly Fed Manufacturing Index, CB Leading Index, and Existing Home Sales. Also, some Federal Reserve officials will be speaking.
The euro gained against the dollar, reaching three-day highs because the dollar was weaker and global markets were feeling more positive.
The British pound also went up against the dollar, reaching the upper 1.2400s. This was because people felt more confident about taking risks, and there’s a belief that the Bank of England might lower interest rates later this year.
The Japanese yen didn’t do as well against the dollar after two days of gains. But it managed to stay above 154.00 yen. In Japan, we’ll see the weekly Foreign Bond Investment report and a speech by BoJ Noguchi.
The Australian dollar stopped its recent slide and went up from its yearly lows below 0.6400. The focus in Australia will be on the release of the labor market report.
Oil prices dropped a lot and almost hit $82.00 per barrel because people weren’t as worried about conflicts around the world, and US crude oil inventories were higher than expected.
Gold prices went down a bit below $2,400 per ounce as people felt less worried about geopolitical issues. Silver prices also went up, moving past $28.00 per ounce after a big drop on Tuesday.
