Forex Morning Report: APR 23 (THU)

The ICE U.S. Dollar Index gained 0.1% on day to 100.35, rising for a third straight session...


On the forex front, the ICE U.S. Dollar Index gained 0.1% on day to 100.35, rising for a third straight session.

EUR/USD dropped 0.4% to 1.0811, the lowest level in nearly two weeks. Official data showed that the eurozone's Consumer Confidence Index slid to -22.7 in April (-20.0 expected) from -11.6 in March. Later today, research firm Markit will report the eurozone's March Manufacturing PMI (38.0 estimated) and Services PMI (22.8 expected).

EUR/USD: Intraday 30-minute Chart:

Source: GAIN Capital, TradingView

GBP/USD bounced 0.3% to 1.2325. Government data showed that U.K. CPI grew 1.5% on year in March (as expected). On the other hand, the Markit U.K. Manufacturing PMI (42.0 estimated) and Services PMI (27.8 expected) for March will be released.

USD/JPY was broadly flat at 107.83.

The Canadian dollar gained traction as oil prices rebounded. USD/CAD fell 0.2% to 1.4187. Meanwhile, official data showed that Canada's CPI rose 0.9% on year in March (+1.1% expected).

Other commodity-linked currencies were mixed against the greenback. AUD/USD climbed 0.2% to 0.6296, as Australian government reported that preliminary retail sales in the country rose 8.2% on month in March, the largest monthly increase since 2000. NZD/USD slid 0.6% to 0.5963.

More from Forex

Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.

Open an Account