On Wednesday the ICE U.S. Dollar Index gained 0.2% on day to 100.20. Federal Reserve Chairman Jerome Powell said they are not considering negative interest rates, despite a highly uncertain outlook and significant downside risks.
EUR/USD dipped 0.3% to 1.0820. Official data showed that the eurozone's industrial production dropped 11.3% on year in March (-12.5% expected). Germany's government said it aims to fully reopen borders by June 15.
GBP/USD fell 0.2% to 1.2236, posting a three-day decline. Official data showed that U.K. first-quarter GDP contracted 2.0% on quarter (-2.6% expected) and 1.6% on year (-2.2% expected). U.K. industrial production declined 4.2% on month (-5.6% expected) and manufacturing production slid 4.6% (-6.0% expected).
Source: GAIN Capital, TradingView
USD/JPY slipped 0.1% to 107.03.
NZD/USD plunged 1.3% to 0.6000. The Reserve Bank of New Zealand said it has decided to expand the Large Scale Asset Purchase programme potential to 60 billion New Zealand dollars from a previous limit of 33 billion New Zealand dollars, while keeping its benchmark rate unchanged at 0.25%. The central bank added: "The Monetary Policy Committee is prepared to use additional monetary policy tools if and when needed, including reducing the OCR further."
USD/CAD edged up 0.1% to 1.4092. Canada's manufacturing sales for March will be reported later today (-4.5% on month expected).
Meanwhile, AUD/USD lost 0.2% to 0.6456, down for a third straight session.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.