The Greenback treaded water just above the 104.00 mark amid omnipresent trade concerns and investors’ steady caution prior to the dubbed “Liberation Day”.
Here is what you need to know on Wednesday, April 2:
The US Dollar Index (DXY) alternated gains with losses in the low-104.00s against the backdrop of a generalised weakness in US yields. President Trump’s announcement of reciprocal tariffs will be the salient event, seconded by Factory Orders, the EIA’s weekly report on US crude oil inventories, and the speech by the Fed’s Kugler.
EUR/USD accelerated losses towards the end of the NA session, revisiting the 1.0780 zone, down for the second day in a row. The speeches by the ECB’s Lane and Schnabel will gather importance in the euro docket.
GBP/USD charted an irresolute day near 1.2920 amid the flattish mood in the Greenback. Next on tap across the Channel will be the final S&P Global Services PMI on April 3.
USD/JPY quickly left behind Monday’s recovery attempt and put the 149.00 support to the test once again. The next event in the Japanese calendar will be the weekly Foreign Bond Investment and the final Jibun Bank Services PMI on April 3.
AUD/USD regained balance, set aside two daily drops in a row and traded close to the key 0.6300 barrier. The Ai Group survey is due, seconded by Building Permits, Private House Approvals and the speech by the RBA’s Kent.
WTI prices corrected lower after hitting new highs just north of the $72.00 mark per barrel amid steady tariff concerns.
Gold prices receded marginally after hitting an all-time high near the $3,150 mark per troy ounce backed by rising fears surrounding tariffs and concerns over the US economy. Silver prices fell for the third consecutive session, hovering around multi-day lows near $33.50 per ounce.
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
AUD/USD: Extra gains need to clear 0.6400
AUD/USD rose for the third day in a row, approaching the key 0.6400 resistance on the back of the acute pullback in the US Dollar amid mounting recession concerns and global trade war fear.
EUR/USD: Powell and the NFP will put the rally to the test
EUR/USD gathered extra steam and advanced to multi-month peaks near 1.1150, although the move fizzled out somewhat as the NA session drew to a close on Thursday.
Gold looks offered near $3,100
Prices of Gold remain on the defensive on Thursday, hovering around the $3,100 region per troy ounce and retreating from earlier all-time peaks near the $3,170 level, all against the backdrop of investors' assessment of "Liberation Day".
Interoperability protocol hyperlane reveals airdrop details
The team behind interoperability protocol Hyperlane shared their upcoming token airdrop plans happening at the end of the month. The airdrop will occur on April 22, and users can check their eligibility to receive $HYPER tokens via a portal provided by the Hyperlane Foundation by April 13, the team shared in a press release with CoinDesk.
Trump’s “Liberation Day” tariffs on the way
United States (US) President Donald Trump’s self-styled “Liberation Day” has finally arrived. After four straight failures to kick off Donald Trump’s “day one” tariffs that were supposed to be implemented when President Trump assumed office 72 days ago, Trump’s team is slated to finally unveil a sweeping, lopsided package of “reciprocal” tariffs.
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.