The US Dollar Index (DXY) tumbled to 105.45 on Wednesday following the Federal Reserve (Fed) decision to hold rates at 5.25-5.50% and Chair Powell’s cautious comments.
The Greenback gave away Tuesday’s advance amidst declining US yields across the curve, all after the Fed left its interest rates unchanged, as expected, and Chief Powell ruled out an interest rate hike as the Fed’s next move.
Federal Reserve Chairman Jerome Powell explains the decision to leave the policy rate, federal funds rate, unchanged at the range of 5.25-5.5% and responds to questions in the post-meeting press conference.
Federal Reserve Chairman Jerome Powell explains the decision to leave the policy rate, federal funds rate, unchanged at the range of 5.25-5.5% and responds to questions in the post-meeting press conference.
Federal Reserve Chairman Jerome Powell explains the decision to leave the policy rate, federal funds rate, unchanged at the range of 5.25-5.5% and responds to questions in the post-meeting press conference.
Federal Reserve Chairman Jerome Powell explains the decision to leave the policy rate, federal funds rate, unchanged at the range of 5.25-5.5% and responds to questions in the post-meeting press conference.
Federal Reserve Chairman Jerome Powell explains the decision to leave the policy rate, federal funds rate, unchanged at the range of 5.25-5.5% and responds to questions in the post-meeting press conference.
Federal Reserve Chairman Jerome Powell explains the decision to leave the policy rate, federal funds rate, unchanged at the range of 5.25-5.5% and responds to questions in the post-meeting press conference.
Federal Reserve Chairman Jerome Powell explains the decision to leave the policy rate, federal funds rate, unchanged at the range of 5.25-5.5% and responds to questions in the post-meeting press conference.
The GBP/USD seesaws after the Federal Reserve held rates unchanged but announced that it would slow the pace of its balance sheet reduction beginning in June.
The USD/JPY trades at 157.42 holding daily losses on Wednesday after the Federal Reserve (Fed) decision to hold rates at 5.25%-5.5%.
EUR/USD bumped slightly higher after the Federal Reserve (Fed) released its latest rate outlook, with the US central bank citing an improvement in inflationary conditions, though targets remain unhit.
United States Fed Interest Rate Decision meets forecasts (5.5%)
Gold price reclaimed the $2,300 milestone on Wednesday after dropping to a two-week low of $2,281, sponsored by a rise in the Employment Cost Index (ECI) in April.
After this week's backslide, the Dow Jones Industrial Average (DJIA) is stuck in a rut, dragging the index below 38,000.00 as investors buckle down for another rate call from the US Federal Reserve (Fed).
The Mexican Peso recovered some ground against the US Dollar on Wednesday as traders braced for a busy economic docket in the United States (US).
The Canadian Dollar (CAD) is largely flat on Wednesday as broader markets await a key appearance from the US Federal Reserve.
The US Dollar Index (DXY) is trading mildly lower on the day at 106.2 ahead of the highly-anticipated Federal Open Market Committee (FOMC) monetary policy decision.
The EUR/USD pair is trading mildly higher at 1.0682, with a daily variation of 0.12% on Wednesday’s session.
The Pound Sterling is virtually unchanged against the US Dollar following the release of mixed Purchasing Managers Index (PMI) data from S&P Global and the Institute for Supply Management (ISM).
United States EIA Crude Oil Stocks Change came in at 7.265M, above expectations (-2.3M) in April 26
Silver price (XAG/USD) recovers strongly from four-month low of $26.30 as the United States Institute of Supply Management (ISM) has reported a weak Manufacturing PMI report for April.
The US Bureau of Labor Statistics (BLS) revealed in its Job Openings and Labor Turnover Survey (JOLTS) on Wednesday that on the final business day of March, the number of job openings reached 8.488 million.
The business activity in the US manufacturing sector contracted in April, with the ISM Manufacturing PMI dropping to 49.2 from 50.3 in March.
United States ISM Manufacturing PMI below expectations (50) in April: Actual (49.2)
United States ISM Manufacturing Prices Paid above forecasts (55) in April: Actual (60.9)
United States JOLTS Job Openings below forecasts (8.69M) in March: Actual (8.488M)
United States ISM Manufacturing Employment Index: 48.6 (April) vs 47.4
United States ISM Manufacturing New Orders Index down to 49.1 in April from previous 51.4
United States Construction Spending (MoM) came in at -0.2%, below expectations (0.3%) in March
United States S&P Global Manufacturing PMI registered at 50 above expectations (49.9) in April
Canada S&P Global Manufacturing PMI below expectations (50.2) in April: Actual (49.4)
United States ADP Employment Change registered at 192K above expectations (175K) in April
The EUR/USD pair finds a provisional support near 1.0650 in Wednesday’s European session.
United States MBA Mortgage Applications climbed from previous -2.7% to -2.3% in April 26
The NZD/USD pair trades close to a nine-day low slightly below the round-level resistance of 0.5900 in Wednesday’s European session.
The US Federal Reserve (Fed) will announce monetary policy decisions following the April 30 - May 1 policy meeting on Wednesday.
Gold price (XAU/USD) trades close to a more than three-week low around $2,285 in Wednesday’s European session.
United Kingdom 10-y Bond Auction rose from previous 4.015% to 4.371%
Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data.
United Kingdom S&P Global/CIPS Manufacturing PMI came in at 49.1, above forecasts (48.7) in April
Greece S&P Global Manufacturing PMI declined to 55.2 in April from previous 56.9
Here is what you need to know on Wednesday, May 1: The US Dollar (USD) preserves its strength on the first trading day of May as investors gear up for key data releases and the Federal Reserve's monetary policy decisions.
USD/CAD trades around 1.3780 during the early European hours on Wednesday, hovering within an ascending channel on the daily chart.
The Pound Sterling (GBP) extends its downside below the psychological support of 1.2500 against the US Dollar (USD) during Wednesday’s London session.
On Wednesday, the United States (US) Automatic Data Processing (ADP) Research Institute is set to unveil private employment data for April.
The EUR/JPY cross trades in positive territory for the second consecutive day around 168.25 during the early European trading hours on Wednesday.
FX option expiries for May 1 NY cut at 10:00 Eastern Time, via DTCC, can be found below - EUR/USD: EUR amounts 1.0610 620m 1.0650 1.2b 1.0700 584m 1.0795 521m 1.0800 689m - GBP/USD: GBP amounts 1.2335 552m 1.2350 816m - USD/JPY: USD amounts 154.00 1.3b 154.50 570m 155.75 671m - AUD/USD: AUD amounts 0.6495 455m 0.6500 600m 0.6950 545m - NZD/USD: NZD amounts 0.5940 2.2b - EUR/GBP: EUR amounts 0.8600 461m .
Australia RBA Commodity Index SDR (YoY) increased to -11.6% in April from previous -15.3%
United Kingdom Nationwide Housing Prices s.a (MoM) came in at -0.4% below forecasts (0.1%) in April
United Kingdom Nationwide Housing Prices n.s.a (YoY) dipped from previous 1.6% to 0.6% in April
Silver price recovers its recent losses registered in the previous session, trading around $26.50 per troy ounce during the Asian trading hours on Wednesday.
The USD/CHF pair extends its upside to 0.9210 on Wednesday during the early European session.
Netherlands, The Markit Manufacturing PMI rose from previous 49.7 to 51.3 in April
Netherlands, The Retail Sales (YoY): 4.8% (March) vs 3%
EUR/USD continues its decline for the second consecutive day, hovering around 1.0650 during Asian trading hours on Wednesday.
The Australian Dollar (AUD) remains under pressure following the release of the AiG Industry Index on Wednesday, indicating a prevailing contraction in private business activity in Australia during March.
Gold price (XAU/USD) posts modest gains around $2,288 on Wednesday during the Asian session.
The Japanese Yen (JPY) registered heavy losses against its American counterpart on Tuesday and reversed a major part of the previous day's sharp gains led by a possible intervention by Japanese authorities.
AUD/JPY extends its losing streak for the third consecutive session.
Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $80.80 on Wednesday.
The Reserve Bank of New Zealand (RBNZ) Deputy Governor Christian Hawkesby said on Wednesday that higher interest rates mean cooling jobs market.
The NZD/USD pair attracts some sellers near 0.5880 on Wednesday during the early Asian session.
Japan Jibun Bank Manufacturing PMI below expectations (49.9) in April: Actual (49.6)
The USD/CAD pair holds positive ground around 1.3778 on Wednesday during the early Asian trading hours.
Ireland Purchasing Manager Index Manufacturing down to 47.6 in April from previous 49.6
South Korea Trade Balance: $1.53B (April) vs previous $4.29B
The GBP/USD pair holds below 1.2490 during the early Asian session on Wednesday.
EUR/USD slid below the 1.0670 level on Tuesday after an unexpected uptick in US wages growth reignited fears of sticky inflation, chopping down rate cut expectations and sending investors into safe haven bids.
United Kingdom BRC Shop Price Index (YoY) down to 0.8% in March from previous 1.3%
Australia Judo Bank Manufacturing PMI below forecasts (49.9) in April: Actual (49.6)
The New Zealand Unemployment Rate in the first quarter (Q1) of 2024 climbed to 4.3% from 4.0% in the fourth quarter, according to data published by Statistics New Zealand on Wednesday.
New Zealand Participation Rate registered at 71.5%, below expectations (71.9%) in 1Q
New Zealand Labour Cost Index (QoQ) meets forecasts (0.8%) in 1Q
New Zealand Labour Cost Index (YoY) meets forecasts (3.8%) in 1Q
New Zealand Unemployment Rate above expectations (4.2%) in 1Q: Actual (4.3%)
New Zealand Employment Change came in at -0.2%, below expectations (0.3%) in 1Q
The NZD/USD pair plunged to 0.5890 on Tuesday as bears hit the gas and bulls seem to have given up their momentum gained in the last session.
West Texas Intermediate (WTI) US Crude Oil fell on Tuesday, declining to $81.00 per barrel as investors pulled out of riskier assets and into safe havens like the US Dollar (USD) following an unexpected uptick in wages data, implying inflation will continue to eat away at chances for a near-term rate cut from the Federal Reserve.
United States API Weekly Crude Oil Stock increased to 4.906M in April 26 from previous -3.23M
The Aussie Dollar extends its losses against the Japanese Yen for the second straight day, following an intervention by the Bank of Japan (BoJ) on Monday, which kept the pair seesawing in the 101.37/104.95 range.
The Reserve Bank of New Zealand's (RBNZ) latest Financial Stability Report (FSR) highlighted rising incomes aiding households to weather the current environment of higher interest rates, but admitted that many households are still reducing spending and extending payment periods in order to make ends meet.
Mexico Fiscal Balance, pesos rose from previous -263.06B to -37.22B in March