Forex Today: US Dollar strengthens further, RBA minutes and China’s GDP next – by MSalordFX DollarIndex Gold RBA Macroeconomics
Here is what you need to know on Tuesday, April 18:rose for the second day in a row on Monday amid increasing odds of another rate hike from the Federal Reserve at the May meeting and as bets for rate cuts later in 2023 diminished. Data from the US surpassed expectations, with the Empire Manufacturing Index at 10.8 in April, showing a significant improvement. On Tuesday, the US reports Housing Starts and Building Permits.
A late rally in Wall Street pushed equity indexes to positive ground. The Dow Jones gained a hundred points or 0.30%, the Nasdaq rose by 0.28% and the S&P 500 rose 0.33%. US yields jumped, posting the highest close in weeks across the curve and boosting USD/JPY, which rose to 134.50, the highest in over a month. dropped for the second straight day but stayed above 1.0900. The Euro lagged on Monday, with EUR/GBP ending a four-day positive streak. The German ZEW Survey is due on Tuesday.
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