Forexlive Americas FX news wrap 28 Apr. GBPUSD moves to highest level since 2022
- US stocks close mixed/little changed
- A total of 12 of the 30 Dow stocks will announce earnings this week.
- US Q2 Treasury borrowing estimate soars to $514 billion
- Gold erases Friday's drop, range now defined
- Crude oil settles at $62.05
- Lutnick will be let out of the penalty box tomorrow
- There is one Canadian election outcome that could hurt the loonie
- White House: Talks with the UK are going in the right direction
- Estimates for Wednesday's US GDP report are all over the place
- Gasparino: Holdup in Japan tariff deal is on commitment to buy oil
- The market needs the answer to this question: What are tariffs for?
- Dallas Fed manufacturing business index -35.8 vs -16.3 prior
- Induced atmospheric vibration was the cause of the Spanish power outage
- The US consumer hasn't cracked yet
- ECB's Rehn: More cuts forecast correct if outlook shows undershoot of 2% inflation
- ECBs deGuidos:Incoming data suggest modest growth in the quarter of 2025
- Trump leans into the 51st state rhetoric on Canadian election day
- Germany's Merz: I don't not want an open tariff war with the USA
- Bessent: Chinese exemptions show they want a de-escalation on trade
- ForexLive European FX news wrap: Dollar steady, markets wait on more trade developments
- We are still demanding a full removal of US tariffs, says Japan economy minister
- UK April CBI retailing reported sales -8 vs -41 prior
The USD moved lower versus most of the major currencies led by the moves vs the JPY and the GBP. The USDJPY is trading down -1.12% currently, while the greenback is lower versus the GBP by -1.03%.
For the GBPUSD , at the start the North American session, the pair was trading near 1.3342. Currently, it is extending to new session highs going into the close above the 2024 high at 1.3433 (higher GBPUSD is a lower USD). The current price trades at 1.3442 – down 100 pips from the early US opening levels. The run to the upside also takes the price to the highest levels since 2022.
For the USDJPY, it was trading near 143.34. As we head into the close, the price is currently trading at 142.03. The move lower has now taken the price below its 200-hour moving average at 142.26. That will be the close risk level going into the new trading day. On the downside, there is a swing area between 141.60 and 141.94.
The US dollar is also lower the:
- CHF -0.81%
- EUR -0.54%, and
- CAD -0.20%
The USD did rise vs the AUD and NZD:
- AUD - 0.61%
- NZD -0.37%
Lower yields helped to push the greenback to the downside. The current snapshot shows:
- 2 year yield 3.683%, -7.3 based points
- 5 year yield 3.809%, -6.8 basis points
- 10 year yield 4.208%, -4.7 basis points
- 30 year yield 4.681%, -8.1 basis points
US stocks traded up and down but reversed earlier declines into the close leaving the Dow and the S&P in positive territory. The NASDAQ fell modestly. The final numbers show
- Dow industrial average rose 114.09 points or 0.28% at 40227.59. The index was down -244.40 point at session lows.
- S&P index rose 3.54 points or 0.06% at 5528.75. The index was down -56.57 points at session lows.
- NASDAQ index fell -16.81 points or -0.10% at 17366.13. The index was down -254.23 points at session lows. Lexus 714 2:30 PM