US Dollar Struggles as Global Sentiment Shifts: Key Insights from Today's Forex Market

Key Highlights from Forex Today

The Greenback continues to exhibit a negative bias, marking its fourth consecutive week of losses. This decline comes amid a generalized improvement in sentiment surrounding the risk-linked markets and a slight easing of concerns regarding the US-China trade tensions.

What You Need to Know on Tuesday, April 15:

• The US Dollar Index (DXY) has seen a fifth consecutive drop, remaining below the 100.00 threshold due to a broad correction in US yields. Key economic indicators such as Import/Export Prices and the New York Empire State Manufacturing Index are due, along with insights from Fed officials including Harker, Bostic, and Barkin.

• EUR/USD has retraced after two days of gains, slipping back to the 1.1360 region, despite a somewhat bearish tone surrounding the US Dollar. Upcoming releases include Germany’s Wholesale Prices and ZEW Economic Sentiment for the eurozone.

• GBP/USD continues its rebound, reaching the 1.3200 zone, although momentum appears to be waning. Market watchers are anticipating the BRC Retail Sales Monitor and the UK labor market report next.

• In the USD/JPY pair, the early rebound past 144.00 could not be sustained, with prices falling back to the low-142.00 range. Key Japanese economic indicators like the Reuters Tankan Index and Machinery Orders are forthcoming.

• The AUD/USD has advanced, regaining the 0.600 barrier and reaching multi-day highs near 0.6340. The focus will be on the RBA Minutes.

• WTI prices have risen to two-day highs above $62.00 per barrel, supported by positive tariff news and increased Chinese imports.

• Gold prices soared to a record high near $3,250 per troy ounce, before retracting slightly due to easing tariffs tensions and a more favorable risk environment. Silver prices have also shown positive movement, trading past $32.00 per ounce for the fourth consecutive day.