Forex Today: Spotlight turns to Britain’s consumption trends

The renewed selling pressure prompted the Greenback to set aside two daily advances in a row on Thursday as investors remained apathetic regarding any real progress on the US-China trade tensions.

Here is what you need to know on Friday, April 25:

The US Dollar Index (DXY) traded on the defensive and receded to the low-99.00s amid the widespread retracement in US yields across different time frames. The final Michigan Consumer Sentiment print will close the US docket.

EUR/USD saw its buying bias revitalised following the recent test of the 1.1300 neighbourhood. The ECB will release its Consumer Inflation Expectations survey, while member Buch is also due to speak.

GBP/USD regained composure, leaving behind two straight daily declines and reclaiming the area above 1.3300 the figure. Retail Sales will take centre stage, seconded by the GfK’s Consumer Confidence measure.

USD/JPY faced the resurgence of the downside pressure and eased from recent peaks north of the 143.00 barrier. The Tokyo’s Inflation Rate is next on tap on the Japanese calendar.

AUD/USD managed to pick up pace and leave behind part of the recent pullback, coming in close to the key hurdle at 0.6400. Next release of note in Oz will be the quarterly Inflation Rate and the RBA’s Monthly CPI Indicator on April 30.

WTI prices recouped part of Wednesday’s pullback and revisited the area beyond the $63.00 mark per barrel on renewed tariff concerns.

Gold prices reversed course and clocked decent gains, retesting the $3,370 zone per troy ounce on the back of bargain hunting mood and tariff uncertainty. Silver prices could not sustain Wednesday’s strong rebound, coming under renewed pressure and approaching the $33.00 mark per ounce.