Here's what you need to know on Thursday, April 24th:
The US Dollar (USD) It remained resilient against peers early on Thursday after posting the acquisitions for two consecutive days. The weekly initial numbers of unemployment, durable commodity orders and existing home sale data for March will be featured in the US economic calendar. Investors will continue to assess the latest developments surrounding the US-China trade conflict and pay attention to comments from the middle banks.
US dollar price this week
The table below shows the percentage change of the US Dollar (USD) against the listed major currencies this week. The US dollar is the strongest against Swiss Franc.
| USD | EUR | Gbp | Jpy | Cad | Aud | Nzd | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.31% | 0.12% | 0.33% | 0.00% | 0.11% | -0.62% | 1.22% | |
| EUR | -0.31% | -0.34% | 0.00% | -0.33% | -0.39% | -0.96% | 0.88% | |
| Gbp | -0.12% | 0.34% | 0.51% | 0.00% | -0.05% | -0.62% | 1.23% | |
| Jpy | -0.33% | 0.00% | -0.51% | -0.34% | -0.34% | -0.82% | 0.92% | |
| Cad | -0.01% | 0.33% | -0.00% | 0.34% | -0.01% | -0.62% | 1.24% | |
| Aud | -0.11% | 0.39% | 0.05% | 0.34% | 0.00% | -0.56% | 1.28% | |
| Nzd | 0.62% | 0.96% | 0.62% | 0.82% | 0.62% | 0.56% | 1.89% | |
| CHF | -1.22% | -0.88% | -1.23% | -0.92% | -1.24% | -1.28% | -1.89% |
The heat map shows the percentage change of basic currencies against each other. The base currency is taken from the left column, while the quote currency is taken from the top row. For example, if you choose the US dollar from the left column and move to the horizontal line with the Japanese Yen, the percentage shown in the box represents the USD (base)/jpy (quote).
The Wall Street Journal reported on Wednesday that the White House was considering the collapse of tariffs on Chinese goods to provoke trade conflicts. Eventually during the day, United States Treasury Secretary said Scott Bescent had not offered President Donald Trump lower tariffs in China unilaterally but said the current levels of tariffs were not maintained for either, adding that he would not be surprised if they had dropped in a fellow way. Wall Street's main indexes ended the day certainly higher on Wednesday and the USD index was closed to positive territory. Meanwhile, data from the US showed that private sector business activity continued to expand, even at a softening speed in April, with the S&P Global Composite PMI dropping to 51.2 from 53.5. Early Thursday, the US Stock Index Futures trade marginally lower and the USD index combined its acquisitions around 99.50.
Following the sharp decline of Tuesday, EUR/USD held firmly on the first half of the day on Wednesday before its foot disappeared during American trading. After disappearing nearly 1% in the day, EUR/USD stage a technical correction and trade in positive territory around 1.1350 in Europe's morning on Thursday. IFO sentiment data from Germany will be seen closely by investors later. Many policies in the European Central Bank (ECB) will also deliver speeches.
GBP/USD It expanded its denial on Wednesday and registered the lowest -day -to -day -to -1.3250 -year -old sunset. The pairs were higher in the early European session but remained below 1.3300. While speaking at the event at the International Monetary Fund (IMF), Bank of England (BOE) Governor Andrew Bailey said the central bank should take the risk of economic growth from global trade interruption.
Gold Bearish pressure failed to shake on Wednesday and lost more than 2.5% during the day. After the fall of all the way to $ 3,260, the XAU/USD got its traction and reclaimed $ 3,300. At the time of press, precious metal traded around $ 3,320, rising by 1% during the day.
USD/JPY The bullish momentum gathered and gained more than 1% on Wednesday. The pair corrected the lower and trading below 143.00 in the morning of Europe on Thursday. At the Asian session on Friday, market participants will pay attention to Tokyo's consumer price index data index for April.
US-China Trade War Faqs
In general, a trade war is an economic conflict between two or more countries due to intense protectionism at one end. This indicates the creation of trade barriers, such as tariffs, resulting in counter-barriers, increasing import costs, and therefore the cost of living.
An economic conflict between the United States (US) and China began early in 2018, when President Donald Trump set trade barriers in China, claiming unfair commercial skills and theft of intellectual ownership from the Asian giant. China has taken revenge action, which imposes tariffs on many US goods, such as vehicles and soybeans. The tension increased until the two countries signed the US-China Phase One Trade Deal in January 2020. The agreement required structural reforms and other changes to the Chinese economic and trade regime and pretended to restore stability and trust between the two countries. However, the coronavirus pandemic took the focus on chaos. However, it is worth mentioning that President Joe Biden, who was in office after Trump, kept the tariffs in the area and added some additional levies.
Donald Trump's return to the White House while the 47th US president caused a fresh wave of tension between the two countries. During the 2024 election campaign, Trump promised to impose 60% tariffs in China once he returned to the office, which he made on January 20, 2025. By Trump back, the US-China trade war was intended to continue where it was left, with title policies of title affecting the global economic landscape among the interruptions Global supply chain, resulting in a reduction in spending, specific investment, and direct feeding to consumer index prices.
