Forex Preview: Dollar Near 22-Month High, Aussie Sinks

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1. Dollar Near 22-Month High, Aussie Sinks

The U.S. dollar hovered near a 22-month high against its peers on Wednesday morning after strong U.S. housing data further eased concerns towards the world’s biggest economy. Elsewhere, the Australian dollar tumbled to a six-week low on Wednesday as soft domestic inflation reinforced prospects of monetary easing. The Aussie was last seen trading down 0.9 percent at $0.7036 as of 7:15 GMT.  The New Zealand dollar was also dragged lower along its Australian counterpart with the kiwi last seen trading 0.6% lower against the dollar. A strong greenback is currently leading the markets and could head even higher on Wednesday. The USD Index is also suggesting further upside if it breaks above the 97.70 resistance.*

 

2. Gold Tumbles To 4-Month Lows On Robust Dollar

Gold prices fell on Wednesday to hover around a four-month low touched in the previous session, as share markets rose and the dollar gained after strong U.S. housing data dampened concerns about an economic slowdown in the country. XAU/USD was last seen trading 0.2% lower at $1270.26, well below its key $1300 level.**

 

3. Twitter’s Rallies On Strong Earnings, Adds $4 Billion in Market Value

Twitter Inc. closed at its highest since last summer, adding more than $4 billion to its market valuation after reporting a revenue beat for the first quarter. Specifically, TWTR finished the day 15.64% higher on Tuesday at $39.77, prompting investment banks such as Cowen to upgrade the stock and Raymond James to moderate its risk/growth assessment.***

 

4. Avon Products Share Rally On Aggressive Call Buying

Shares of Avon Products (AVP) finished the day 12% higher on Tuesday at $2.910 closing on a bullish note   after CNBC commentator Jon Najarian highlighted the stock on Halftime Report this afternoon, noting a strong bullish call-buying opportunity ahead of the company’s first-quarter earnings report next week.****

 

5. Oil Retreats From 2019 Highs As Iran Rally Loses Steam

Oil retreated further back from near its highest level in 2019 on Wednesday, as confidence in spare production capacity tempered supply concerns from US sanctions on Iran. International benchmark Brent crude (CL_BRENT) fell 0.6 percent to $74.11 a barrel as of 7:27 GMT this morning, while West Texas Intermediate (USOIL) also dropped 0.7 per cent to $65.83.*****

 

You can find and trade all of the above mentioned CFD assets on BDSwiss Forex/CFD platforms.

 

Sources
*Financial Times Apr 24, 2019 2:48 AM ET
**Reuters Apr 24, 2019 3:53 AM ET
***CNBC Apr 24, 2019 03:07 AM ET
****Bloomberg Apr 24, 2019 04:25 AM ET
*****FinanceTimes Apr 24, 2019 06:26 AM ET

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