Forex Morning Report: APR 23 (THU)
Ming Lam April 23, 2020 2:12 AM
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.
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