Risk Aversion Continues To Dominate Foreign Exchange Markets

The U.S. dollar index (DXY) surged to a new 2024 high, hitting near 106.50. On April 17, weekly mortgage applications, the Fed’s Beige Book and long-term cross-border capital (TIC) net flows, usually tracked by the MBA, will all be released.

EUR/USD continues to be bearish, falling to the 1.0600 level, marking a new low for the year. The final Eurozone inflation rate will be released on April 17.

GBP/USD remains volatile, approaching the annual low of 1.2400. The UK is due to release its March inflation rate on April 17.

USD/JPY rose to fresh highs near 154.80 on the back of rising U.S. narrow yields and a modest gain in the greenback. In Japan, Reuters Tankan Index and trade balance data will be released on April 17.

AUD/USD fell for the third consecutive session, briefly falling below the 0.6400 support level. The Westpac Leading Index will be released on 17 April.

WTI oil prices have maintained good volatility, staying around $85.00 per barrel, in a bullish consolidation.

Gold prices extended Monday’s gains, hovering around the $2,400 mark. Meanwhile, silver prices failed to sustain the $29.00 area and ended the day significantly lower.

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