Market News & Analysis

USD rebounds; gold reverses weekly gains

Apr 12, 2019 | Market Update

High-impact economic news:

09:30 NZD Business NZ Manufacturing Index
12:30 AUD RBA Financial Stability Review
TBA CNY Trade Balance


The United States’ economy continues to show signs of strength after the latest Producer Price Index (PPI) beat expectations in March, rising 0.6% compared to a forecast of 0.3%. The index for final demand services edged 0.3% higher compared to analyst expectations of 0.2%. The PPI wasn’t the only piece of positive data. Unemployment claims in the United States fell to 196,000 compared to expectations of 210,000. As a result, the USD rebounded, reversing losses in the previous session.

EUR/USD fell -0.15%
USD/JPY rose +0.58%
USD/CAD rose +0.42%
AUD/USD rose -0.66%
GBP/USD rose -0.23%

The U.S. Dollar Index rose 0.26% to 96.81.


After rallying to multi-week highs, the Australia dollar finished Thursday’s session lower against the majors. The AUD/USD pair fell more than 45 pips to close at 0.7121, wiping out most of the week’s gains. The currency pair remains 0.17% higher for the week.

AUD/CAD fell -0.26%
AUD/JPY fell -0.09%

The biggest driver for the Australian dollar today will be the released of China’s trade balance and the RBA Financial Stability Review, due at 12:30pm AEDT.


Gold was the biggest loser on Thursday with the commodity plunging more than $15 to US$1292.54 per ounce, after three consecutive sessions of gains. The price of silver suffered a bigger blow, falling to its lowest level since December 26. Silver fell $0.26 to US$14.93 per ounce.


In equities, Wall Street stocks closed flat with the Dow Jones falling 14 points while the S&P 500 rose a mere 11 points. The NASDAQ closed the session 16 points or 0.21% lower. Despite the flat start, Australian shares are poised to open the session higher with the SPI Futures up 21 points at 0900 AEDT.

Good trading from EightCap

* The information provided here has been prepared by EightCap’s team of analysts. All expressions of opinion are subject to change without notice. Any opinions made may be personal to the author and do not reflect the opinions of EightCap.

In addition to the disclaimer on our website, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. EightCap accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.

Please note that past performance is not a guarantee of or prediction of future performance. This communication must not be reproduced or further distributed without prior permission.







Level 6, 360 Collins Street
Melbourne, VIC
3000 Australia

Risk Warning: Margin trading involves a high level of risk, and may not be suitable for all investors. You should carefully consider your objectives, financial situation, needs and level of experience before entering into any margined transactions with EightCap, and seek independent advice if necessary. Forex and CFDs are highly leveraged products which mean both gains and losses are magnified. You should only trade in these products if you fully understand the risks involved and can afford losses without adversely affecting your lifestyle (including the risk of losing substantially more than your initial investment). A Product Disclosure Statement (PDS) and a Financial Services Guide (FSG) for our products are available to download from our Legal Documentation page. You must assess and consider them carefully before making any decision about using our products or services.

EightCap is a registered business name of EightCap Pty Ltd (ABN 73 139 495 944). We are regulated by the Australian Securities & Investments Commission (ASIC) - our AFSL number is 391441. This licence authorises us to provide financial services to people in Australia.

The information on this website is of a general nature only and is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. EightCap is not a financial adviser, and does not issue advice, recommendations, or opinion in relation to acquiring, holding or disposing of a margined transaction. We provide general advice only and accordingly you should consider how appropriate the advice (if any) is to your objectives, financial situation and needs before acting on the advice.