Forex Today: RBA Minutes and UK jobs report gather attention
The Greenback extended its negative bias, entering its fourth consecutive week of losses amid the generalised improvement in the sentiment around the risk-linked galaxy and somewhat mitigated jitters on the US-China trade war front.
Here is what you need to know on Tuesday, April 15:
The US Dollar Index (DXY) dropped for the fifth day in a row on Monday, keeping the trade below the 100.00 threshold amid the broad-based correction in US yields across the spectrum. The Import/Export Prices are due, seconded by the New York Empire State Manufacturing Index, and the API’s report on US crude oil stockpiles. In addition, the Fed’s Harker, Bostic, and Barkin are all due to speak.
EUR/USD left behind two daily advances in a row and slipped back to the 1.1360 region despite the inconclusive/bearish tone in the US Dollar. Germany’s Wholesale Prices will be released, ahead of the ZEW’s Economic Sentiment in Germany and the euro bloc.
GBP/USD extended its sharp rebound to the 1.3200 zone, although losing some impetus afterwards. The BRC Retail Sales Monitor comes next, followed by the UK’s labour market report.
USD/JPY could not sustain the early rebound past the 144.00 barrier, receding to the low-142.00 afterwards. Next on tap on the Japanese calendar will be the Reuters Tankan Index and Machinery Orders.
AUD/USD advanced further, finally managing to regain the 0.600 barrier and above, hitting multi-day highs near 0.6340. The RBA Minutes will be at the centre of the debate.
Prices of WTI added to Friday’s decent advance and rose to two-day highs past the $62.00 mark per barrel amid some positive headlines on the tariffs front and news that Chinese imports increased last month.
Gold prices soared to a record high near the $3,250 mark per troy ounce just to recede afterwards on some easing tensions around Trump’s tariffs and a better mood in the risk complex. Silver prices traded on a positive footing past the $32.00 region per ounce, advancing for the fourth day in a row.