Greenback Records Gains as FOMC Members Give Optimistic Remarks

Traders are flocking back to the greenback after positive remarks from FOMC members and a decrease in trade war jitters.

Tuesday, April 17: Greenback gains as FOMC members gave optimistic remarks

USD

The USD recorded gains against most of its competitors on Tuesday, with upbeat data and optimistic remarks from some FOMC members the major catalysts for that. Trade war concerns and tensions in Syria also seemed to have taken a back seat.

EUR/USD dropped from 1.2414 to end the day trading at 1.2336, GBP/USD meanwhile continued to drop and ended the day at a low of 1.4282, USD/JPY went up to 107.20, and USD/CHF continued its rise to 0.9673.

CHF

Swiss France continued to lose some of the gains it gathered as traders began to flock back to the greenback once more.

EUR/CHF went up to 1.1965, GBP/CHF also went up to end the day at 1.3829, AUD/CHF followed suit to end the day at a high of 0.7500, and CHF.JPY dropped to 110.80.

Wednesday, April 18: Loonie Hurt by Cautious BOC, Dollar Still Supported by Yields

CAD

The Loonie recorded losses against most of its competitors after the BOC refused to drop strong rate hike clues, rather the bank focused on uncertainties that stem from geopolitical and trade concerns.

USD/CAD started the day at a low of 1.2548 to finish at 1.2660, CAD/JPY dipped to 84.66, EUR/CAD went up to 1.5632, and AUD/CAD ended the day at a high of 0.9851

USD

The Greenback continued its impressive run by leading the pack, with the major catalysts being higher bond yields and cooling geographical risks.

USD/JPY ended the day at a high of 107.37, USD/CHF also advanced forward to end the day at 0.9691, EUR/USD meanwhile held its place around the 1.2375 area, and GBP/USD went down to 1.4198.

AUD

The Aussie dollar ended the day as the best performing currency, with the ease of trade war jitters.

AUD/USD ended the day at a high of 0.7785, AUD/JPY also went up to trade at 83.75, EUR/AUD went down to 1.5861, and GBP/AUD fell to a low of 1.8242.

Thursday, April 19: Another Leg Lower for GBP on Carney’s Remarks

GBP

The pound started the day excellently but couldn’t hold on to its gain after BOE Governor Carney acknowledged softer retail sales, thus dampening any hopes for an interest hike next month.

GBP/USD dropped from a high of 1.4246 to trade at 1.4068, GBP/JPY also dropped from a previous high of 152.96 to 151.10, EUR/GBP meanwhile went up to 0.8760, and GBP/CAD dipped to 1.7950.

USD

The Greenback ended the day pretty strong thanks to record gains in the bond yields and the upbeat remarks from some FOMC members.

USD/CHF rose to a high of .9716, EUR/USD, on the other hand, dipped from 1.2381 to a low of 1.2328, AUD/USD went down to trade at 0.7729, and NZD/USD also dropped from 0.7306 to trade at 0.7259.

Friday, April 20: JPY and NZD Extend Losses

JPY

At the trading session this morning, the Yen took a hit with traders’ now flocking back to an improved USD.

NZD

With no fresh catalyst, the Kiwi continued the slump it started on Thursday.

NZD/USD dropped to 0.7245, NZD/JPY also went down to trade at 77.99, EUR/NZD meanwhile went up 1.7041, and GBP/NZD rose to 1.9434