Forex Today: US Dollar rebounds on Iran escalation, Oil surges, Gold sinks
The US Dollar Index (DXY) bounced back toward the 100.00 area after United States (US) President Donald Trump said the US would intensify strikes on Iran over the next two to three weeks, crushing hopes for a near-term de-escalation and reviving safe-haven demand for the Greenback.

Here is what you need to know for Friday, April 3:

The US Dollar Index (DXY) bounced back toward the 100.00 area after United States (US) President Donald Trump said the US would intensify strikes on Iran over the next two to three weeks, crushing hopes for a near-term de-escalation and reviving safe-haven demand for the Greenback. The move came as Oil prices spiked, equities fell, and markets shifted their focus back to geopolitics ahead of Friday’s US Nonfarm Payrolls report.

At the same time, US weekly Initial Jobless Claims fell to 202K from 211K, beating expectations of 212K and suggesting the labor market remains relatively stable for now.

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 British Pound.

USD EUR GBP JPY CAD AUD NZD CHF
USD 0.44% 0.61% 0.51% 0.29% 0.31% 0.58% 0.58%
EUR -0.44% 0.17% 0.04% -0.17% -0.12% 0.15% 0.12%
GBP -0.61% -0.17% -0.11% -0.31% -0.28% 0.00% -0.04%
JPY -0.51% -0.04% 0.11% -0.21% -0.20% 0.06% 0.06%
CAD -0.29% 0.17% 0.31% 0.21% 0.01% 0.27% 0.26%
AUD -0.31% 0.12% 0.28% 0.20% -0.01% 0.27% 0.22%
NZD -0.58% -0.15% -0.00% -0.06% -0.27% -0.27% -0.02%
CHF -0.58% -0.12% 0.04% -0.06% -0.26% -0.22% 0.02%

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).

EUR/USD slipped toward the 1.1540 zone as the stronger USD dominated price action. The Euro (EUR) also remained capped amid the broader US Dollar (USD) strength.

GBP/USD fell toward the 1.3230 region, pressured by the Greenback’s strength and renewed concerns over the United Kingdom’s (UK) exposure to higher imported energy costs. A Bank of England survey released today showed UK firms expect to raise prices by 3.7% over the next year, the biggest jump in nearly two years, adding to inflation worries.

USD/JPY advanced toward the 159.60 area as the USD rose even against traditional safe havens. Still, gains in the pair remained sensitive to intervention fears, with the market again trading close to the 160.00 zone that has heightened concern among Japanese authorities in recent sessions.

AUD/USD slightly weakened to around 0.6910, retreating amid a sour market mood that pressured the risk-sensitive Australian Dollar (AUD).

West Texas Intermediate (WTI) Oil rocketed above $111.00, at one point touching nearly $114.00, after Trump’s tougher rhetoric fueled fears of prolonged supply disruption and uncertainty around the Strait of Hormuz.

Gold dropped toward $4,661, reversing lower despite the risk-off tone. The stronger US Dollar and rising Oil-driven inflation concerns weighed on bullion by reducing expectations for lower interest rates, a negative backdrop for non-yielding assets.

What’s next in the docket:

Friday, April 3

  • United States – March Average Hourly Earnings
  • United States – March Nonfarm Payrolls
  • United States – March Unemployment Rate
  • United States – March Labor Market Data
  • United States – March S&P Global Composite PMI

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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