The Greenback ended another chaotic week amid the intensification of the US-China trade conflict, with US stagflation concers also adding to the negative performance. The US Dollar ended its third consecutive week in the red.
The US Dollar Index (DXY) dropped to three-year lows near the 99.00 mark amid increasing concerns around the prospects of a US economic slowdown and unabated fears surrouding the potential impact of tariffs on the global economy. The Import/Export Prices, the New York Empire State Manufacturing Index, and the API’s report on US crude oil inventories will be released on April 15. The weekly MBA Mortgage Applications is due on April 16, seconded by Retail Sales, Industrial and Manufacturing Production, Capacity Utilisation, Business Inventories, the NAHB Housing Market Index, Net TIC Flows and the EIA’s weekly report on US crude oil stockpiles. Building Permits, Housing Starts, the Philly Fed Manufacturing Index, and the weekly Initial Jobless Claims are expected on April 17.
EUR/USD extended its rally markedly to the area of three-year peaks around 1.1480 following the strong pullback in the US Dollar. Germany’s Wholesale Prices are due on April 15, followed by the ZEW’s Economic Sentiment in Germany and the euro area. The EMU’s Current Account Results and the final Inflation Rate are due on April 16. The ECB is expected to cut rates on April 17.
GBP/USD advanced to six-month tops near 1.3150 in reponse to the intense sell-off in the Greenback and auspicous prints from the UK calendar. The BRC Retail Sales Monitor comes on April 15, ahead of the UK’s labour market report. The key Inflation Rate is due on April 16.
USD/JPY retreated for the seconde week in a row, this time hitting seven-month troughs near the 142.00 zone on solid safe-haven inflows. The final Industrial Production figures are due on April 14 along with Capacity Utilization. On April 16 will come the Reuters Tankan Index and Machinery Orders. Balance of Trade results are due on April 17, followed by the weekly prints from Foreign Bond Investment. Japan’s Inflation Rate is due on April 18.
A volatile week saw AUD/USD plummet to the vicnity of the 0.5900 level on April 9, just to reverse course and approach the key 0.6300 hurdle two days later. The RBA Minutes take centre stage on April 15, while the Westpac Leading Index is expected on Aprl 16. The relevant labour market report in Oz is expected on April 17.
Anticipating economic perspectives: Voices on the horizon
- The Fed’s Barkin and Waller speak on April 14.
- The Fed’s Harker, Bostic, and Barkin will speak on April 15.
- The Fed’s Powell and Hammack are due to speak on April 16.
- The BoJ’s Nakagawa speaks on April 17, seconded by the Fed’s Schmid, Barr, and the ECB’s Lagarde.
- The Fed’s Daly will speak on April 18.
Central banks: Upcoming meetings to shape monetary policies
- The BoC will meet on April 16 (2.75% act, 2.75% exp).
- The ECB meets on April 17 (2.50% act, 2.25% exp).
- The BoK will decide on rates on April 17 (2.75% act, 2.75% exp).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
EUR/USD remains depressed near 1.1350
The US Dollar now grabs momentum and motivates EUR/USD to return to the 1.1350 zone on Thursday, as investors continue to digest the ECB’s decision to lower its policy rates by 25 basis points, as widely estimated. It is worth noting that most markets will be closed on April 18, Good Friday.
GBP/USD maintains the consolidation around 1.3260
The upside momentum in the British pound remains well and sound on Thursday, underpinning the eighth consecutive daily advance in GBP/USD, which now trades in a consolidative fashion near 1.326. Cable’s strong performance comes despite the marked rebound in the US Dollar.
Gold bounces off daily lows, back near $3,320
The prevailing risk-on mood among traders challenges the metal’s recent gains and prompts a modest knee-jerk in its prices on Thursday. After bottoming out near the $3,280 zone per troy ounce, Gold prices are now reclaiming the $3,320 area in spite of the stronger Greenback.
Crypto market cap fell more than 18% in Q1, wiping out $633.5 billion after Trump’s inauguration top
CoinGecko’s Q1 Crypto Industry Report highlights that the total crypto market capitalization fell by 18.6% in the first quarter, wiping out $633.5 billion after topping on January 18, just a couple of days ahead of US President Donald Trump’s inauguration.
Future-proofing portfolios: A playbook for tariff and recession risks
It does seem like we will be talking tariffs for a while. And if tariffs stay — in some shape or form — even after negotiations, we’ll likely be talking about recession too. Higher input costs, persistent inflation, and tighter monetary policy are already weighing on global growth.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.