Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Economic Indicator

Forex Today: It is PMI-day!

Source Fxstreet

The Greenback managed to regain strong upside traction and bounced off recent three-year lows vs. its main peers despite persistent tariff jitters and further Trump-Powell effervescence.

Here is what you need to know on Wednesday, April 23:

The US Dollar Index (DXY) posted decent gains on Tuesday, reversing part of the Monday’s pessimism despite the mixed tone in US yields across the board. The weekly MBA Mortgage Applications are due, followed by the flash S&P Global Manufacturing and Services PMIs, New Home Sales, the EIA’s weekly report on US crude oil stockpiles, and the Fed’s Beige Book.

EUR/USD lost upside momentum following Monday’s yearly peaks, receding to the 1.1430 area in response to the firmer tone in the US Dollar. The advanced HCOB Manufacturing and Services PMIs in Germany and the Euroland will be released, seconded by the EMU’s Balance of Trade results and Construction Output.

GBP/USD slipped back to the low-1.3300s after failing to extend its rally north of tops around the 1.3420 zone. The Public Sector Net Borrowing figures are due along the advanced S&P Global Manufacturing and Services PMIs.

USD/JPY broke below the 140.00 support for the first time since September 2024, although it managed to stage a strong rebound later in the day. The preliminary Jibun Bank Manufacturing and Services PMIs are expected on the Japanese docket.

AUD/USD receded from yearly peaks near 0.6440 following the better tone in the Greenback. The flash S&P Global Manufacturing and Services PMIs are due on April 23.

WTI prices rebounded with certain conviction past the $63.00 mark per barrel despite the stronger Dollar and unabated concerns surrounding US tariffs.

Gold prices rose to a record high at $3,500 per troy ounce underpinned by safe-haven demand. However, the yellow metal retraced part of that advance in the latter part of the day. Silver prices added to Monday’s uptick, coming closer to the key $33.00 mark per ounce.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Dollar holds above 100 near a 3-month high — three Fed speakers and a $69 billion auction land tonight The dollar index closed at 100.43 on Monday, its highest close since late July, after a weekly gain of about 1% — the best in more than three months — and is holding above the 100.00 handle in Asia. Three Fed officials speak tonight alongside a $69 billion two-year note auction, the first leg of $183 billion of Treasury supply this week.

Author Suzie

Sep 22, Tue

The dollar index closed at 100.43 on Monday, its highest close since late July, after a weekly gain of about 1% — the best in more than three months — and is holding above the 100.00 handle in Asia. Three Fed officials speak tonight alongside a $69 billion two-year note auction, the first leg of $183 billion of Treasury supply this week.

October hike odds climb toward 60% as Goldman and BofA both flip — what Warsh's "dose of accommodation" really changed Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Author Irene Q.

Sep 23, Wed

Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Memory chips surge, Nasdaq notches a second straight record close — why the Dow fell 185 points anyway Micron gained 5%, SanDisk 6.8%, Seagate 4% and Western Digital 3% as the memory complex led the Nasdaq Composite to a second consecutive record close of 27,244.28. But the Dow fell 185 points as JPMorgan, Wells Fargo and Schwab slid more than 3% each — a split tape that says more about positioning than about the economy.

Author Irene Q.

Sep 23, Wed

Micron gained 5%, SanDisk 6.8%, Seagate 4% and Western Digital 3% as the memory complex led the Nasdaq Composite to a second consecutive record close of 27,244.28. But the Dow fell 185 points as JPMorgan, Wells Fargo and Schwab slid more than 3% each — a split tape that says more about positioning than about the economy.

US input costs rose at the fastest pace in four years — the September flash PMI beat is an inflation story, not a growth story US September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.

Author Suzie

Sep 24, Thu

US September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.

Gold Price Forecast: Gold Drops Below $4,300, Will It Continue to Fall? As of the European session on September 24, gold prices (XAUUSD) extended their correction, dipping below $4,300 intraday to hit a low of $4,262.45. After previously rebounding close to $

Author TradingKey

Sep 24, Thu

As of the European session on September 24, gold prices (XAUUSD) extended their correction, dipping below $4,300 intraday to hit a low of $4,262.45. After previously rebounding close to $

Related Instrument