India FX Reserves, USD: $698.49B (April 20) vs previous $703.31B

The US Dollar Index (DXY) declined sharply to around 98.10 on Thursday after data showed the United States (US) economy grew at a lower-than-expected pace in the first quarter and amid Japanese authorities' first intervention in the foreign exchange market in almost two years.

Here is what you need to know on Thursday, April 30:

South Africa Private Sector Credit declined to 8.5% in March from previous 10.5%

Ripple (XRP) and Stellar (XLM) price action remains under pressure so far this week, with XRP and XLM extending their recent losses by over 4% and 6%, respectively.

BNY’s Geoff Yu argues that US Dollar (USD) strength reflects a positive terms-of-trade shock and strong trade-weighted holdings, with limited downside rebalancing pressure.

Solana (SOL) price remains under pressure, trading below $85 on Wednesday after losing more than 3% over the past two days.

Ripple (XRP) and Stellar (XLM) remain under pressure on Tuesday as mixed market sentiment keeps price action subdued. XRP extends its decline after slipping below a key technical support level, while XLM remains well below major resistance zones.

Ripple (XRP) is trading under increasing sell-side pressure as of writing on Monday. A near-term support at $1.41 suggests that dip-buying remains steady despite overhanging resistance at $1.53 and $1.78.

Silver price edges up over 0.50% during Friday’s session, after bouncing off a daily low of $73.10. Speculation about a resumption of negotiations between Washington and Tehran is cheered by investors, which pushed US equities higher in tandem with the precious metals segment.

India FX Reserves, USD up to $703.31B in April 13 from previous $700.95B

Silver price (XAG/USD) collapsed as buyers got rejected at the 50-day Simple Moving Average (SMA) at $78.73, as geopolitical headlines dominated price action on Thursday. The XAG/USD trades at $75.40, down 3%.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is remaining firm after two days of gains and trading around 98.60 during the early European hours on Thursday.

USD/CAD continues to trade laterally on Wednesday, during the North American session, flattish at around 1.3658, as the pair seems capped by April’s 20 price action, in which the Loonie appreciated 0.34% against the US Dollar.

The Euro (EUR) is heading south for the second consecutive day against the British Pound (GBP) on Wednesday, trading near session lows below 0.8700, as UK inflation figures put pressure on the Bank of England to bring the possibility of an interest rate hike back to the table.

Silver price tanks nearly 3.50% on Tuesday, clearing a key support trendline after printing a doji on Monday, as markets remained uncertain about the outcome of US-Iran talks. Heightened tensions and a ceasefire about to expire are pushing the precious metals segment into a tailspin.

Here is what you need to know on Tuesday, April 21:

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is holding gains after registering little losses in the previous day and trading around 98.10 during the early European hours on Tuesday.

Solana (SOL) price is nearing a key resistance level around $87.10 on Tuesday, which could determine the next directional move. Meanwhile, positive sentiment around SOL builds, driven by rising institutional demand for SOL spot Exchange Traded Funds (ETFs).

The USD/CHF tests key support at a trendline after clearing the 50-day Simple Moving Average (SMA) at 0.7828 which exacerbated the breach of the 0.7800 figure, and testing last week’s lows of 0.7775.

Cardano (ADA) price trades at around $0.245 on Monday after a mild recovery of 2.67% in the previous week. However, the risk sentiment was dampened over the weekend as renewed tensions between the US and Iran in the Strait of Hormuz weighed on broader markets.

USD/CHF finishes the week on a lower note, down 0.87% for the week and 0.27% in the day, as markets turn optimistic about a possible US-Iran deal over the weekend.

India FX Reserves, USD increased to $700.95B in April 6 from previous $697.12B

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending gains for the second successive day and trading around 98.30 during the European hours on Friday.

The USD/JPY reclaims the 159.00 figure after reaching a weekly low of 158.26 amid mixed economic data in the US, strengthening the US Dollar, which rose to a two-day high of 98.29 according to the US Dollar Index (DXY). At the time of writing, the pair trades at 159.17, up 0.11%.

Silver price loses 0.30% on Thursday as the Greenback stages a comeback and as the white metal fails to clear key resistance at $81.00. At the time of writing, XAG/USD trades at $78.73 after hitting a daily high of $80.85.

Switzerland Producer and Import Prices (MoM) meets forecasts (0.2%) in March

The US Dollar Index (DXY) struggled to build on recent gains, trading near 98.10 on Tuesday in a tight range as mixed US data and conflicting signals from yields capped momentum.

Dogecoin (DOGE) is the largest meme coin, with a market capitalization of $14.27 billion at the time of writing on Wednesday, accounting for over 0.50% of the $2.49 trillion overall cryptocurrency market.

Polkadot (DOT) is down roughly 4% at press time on Monday, marking a bearish start to the week. The bridged DOT token on the Ethereum blockchain was reportedly compromised in an admin-change attack, resulting in the creation of more than 1 billion fake DOT tokens.