The dollar managed to recover a strong upward traction and bounced from recent minimums of three years against their main peers despite the persistent concerns about tariffs and effervescence between Trump and Powell.
Here is what you need to know on Wednesday, April 23:
The US dollar index (DXY) recorded decent profits on Tuesday, reviring part of Monday’s pessimism despite the mixed tone in US yields in general. Weekly requests for MBA mortgages are expected, followed by the preliminary PMIs of manufacturing and Global S&P services, the sales of new homes, the EIA weekly report on the inventories of US crude oil inventories of the US and the beige book of the Fed.
The EUR/USD lost upward impulse after the annual maximums of Monday, going back to the 1,1430 area in response to the strongest tone of the US dollar. The advanced PMIs of manufacturing and services of HCob in Germany and the Eurozone will be published, followed by the results of the EMU trade balance and the production in construction.
The GBP/USD backed the low 1,3300 after not being able to extend its recovery above the maximums around the 1,3420 area. Net indebted to the public sector indebtedness together with the advanced PMIs of manufacturing and Global S&P services are expected.
The USD/JPY broke below the 140.00 support for the first time since September 2024, although it managed to star in a strong rebound later in the day. Preliminary PMIs of manufacturing and services of Jibun Bank are expected on the Japanese agenda.
The AUD/USD retreated from the annual maximums about 0.6440 after the most favorable tone of the dollar. Preliminary PMIs of manufacturing and Global S&P services are expected on April 23.
WTI prices bounced with some conviction above the level of $ 63.00 per barrel despite the strongest dollar and persistent concerns about tariffs in the US.
Gold prices rose to a historical maximum of $ 3,500 per Troy ounce backed by the demand for safe refuge. However, the yellow metal retreated part of that advance in the last part of the day. Silver prices joined the rebound on Monday, approaching the key level of 33.00 per ounce.
Source: Fx Street

I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.