Forex Today: Greenback steadies near two-week highs amid strong US data and Middle East tensions
The US Dollar Index (DXY) rose on Thursday and remains on a winning streak near the 98.70 area, supported by stronger-than-expected US data and persistent geopolitical uncertainty, as conflicting headlines keep markets cautious.

Here is what you need to know for Friday, April 24:

The US Dollar Index (DXY) rose on Thursday and remains on a winning streak near the 98.70 area, supported by stronger-than-expected US data and persistent geopolitical uncertainty, as conflicting headlines keep markets cautious.

Weekly Initial Jobless Claims rose to 214K from 212K, still consistent with a resilient labor market. Meanwhile, preliminary S&P Global PMIs for April surprised to the upside, with Manufacturing at 54 and Services at 51.3, reinforcing the view that the US economy remains on a solid footing. This combination lifted US yields and further underpinned the Greenback.

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the New Zealand Dollar.

USD EUR GBP JPY CAD AUD NZD CHF
USD 0.09% 0.16% 0.03% 0.15% 0.26% 0.67% 0.12%
EUR -0.09% 0.09% -0.06% 0.08% 0.14% 0.57% 0.00%
GBP -0.16% -0.09% -0.13% -0.03% 0.07% 0.50% -0.08%
JPY -0.03% 0.06% 0.13% 0.09% 0.22% 0.60% 0.07%
CAD -0.15% -0.08% 0.03% -0.09% 0.13% 0.52% -0.05%
AUD -0.26% -0.14% -0.07% -0.22% -0.13% 0.42% -0.18%
NZD -0.67% -0.57% -0.50% -0.60% -0.52% -0.42% -0.58%
CHF -0.12% -0.01% 0.08% -0.07% 0.05% 0.18% 0.58%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

A notable geopolitical update crossed the wires, with a report from Israel N12 News indicating that Iranian Parliament speaker Mohammad Bagher Ghalibaf had resigned from the negotiations with the US. The news report moved the markets, but different Iranian journalists denied it, adding to the ongoing noise around Middle East negotiations.

EUR/USD trades under pressure near the 1.1690 zone, weighed down by the stronger USD amid markets favoring solid US data.

GBP/USD drifts lower toward the 1.3480 region, struggling to regain traction amid broad US Dollar strength. In the UK, the S&P Global Composite PMI increased from 50.3 to 52, indicating growth in both the manufacturing and services sectors, which are now above the expansion/contraction threshold.

USD/JPY pushes higher toward 159.50, supported by rising US yields, though upside remains cautious amid lingering intervention risks.

AUD/USD softens toward the 0.7140 area, pressured by the stronger USD and higher yields. The Reserve Bank of Australia's (RBA) relatively firm stance offers some support, but global sentiment and US data remain on top.

West Texas Intermediate (WTI) Oil surges near $96.00 per barrel amid ongoing tensions in the Middle East, which continue to support prices.

Gold (XAU/USD) retreats near the $4,710 mark, pressured by rising yields and a stronger US Dollar, despite lingering safe-haven demand.

What’s next in the docket:

Friday, April 24:

  • United Kingdom Retail Sales March
  • Germany IFO Survey April
  • Canada Retail Sales February
  • United States Michigan Data April
  • United States Inflation Expectations April

WTI Oil FAQs

WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media.

Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa.

The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency.

OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.

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실시간 시세

이름 / 기호
차트
% 변동 / 가격
GBPUSD
1일 변동
+0%
0
EURUSD
1일 변동
+0%
0
USDJPY
1일 변동
+0%
0

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