Marketwatch North America

Daily Insights
April 24, 2024

U.S. Durable Goods Orders for March were +2.6%, above the 2.5% estimate. And Durable Goods excluding transportation were +0.2%, matching the survey estimate. Today’s better-than-expected data offsets yesterday’s drop in manufacturing and services inflation, giving a lift to the dollar and treasury yields.

The U.S. dollar index is +0.10%, primarily due to a 0.50% gain vs. SEK, 0.30% gain vs. CAD, and sub-0.10% gains against JPY, CHF & EUR. At 105.788, the dollar index is on the low side of its 105.75/106.50 2-week range.

U.S. Treasuries are higher in all tenors, the widest gains concentrated in the far tenors, and the 10-year yield leading +0.039% at 4.643%.

USD/JPY reached a fresh multi-year high today at 155.17 as dollar bulls continue to pile into the short JPY position despite a steady stream of intervention warnings from Japanese finance officials. The Japanese yen has now weakened 50.10% since year-end 2020 and is down 9.85% just this year against the dollar.

Oil prices are -0.72% today, in-line with the entire energy sector. Natural gas prices are leading declines, down 3.75%.

Gold is -0.04% today vs. yesterday’s close, currently $2,321.20/oz. Gold is now 4.53% below its all-time record high set on April 12th.

Economic Calendar

CAD - Core Retail Sales m/m
CAD - Retail Sales m/m
USD - Core Durable Goods Orders m/m
AUD - CPI q/q
AUD - CPI y/y
AUD - Trimmed Mean CPI q/q
USD - Durable Goods Orders m/m
EUR - German Buba President Nagel Speaks
USD - Crude Oil Inventories
CAD - BOC Summary of Deliberations
CHF - Credit Suisse Economic Expectations
EUR - German ifo Business Climate
EUR - German 10-y Bond Auction
NZD - Bank Holiday
AUD - Bank Holiday
GBP - CBI Industrial Order Expectations
EUR - Belgian NBB Business Climate
CNY - CB Leading Index m/m

Market Indicators

Currency Pairs
Pair High Low
usd/jpy 155.167 154.739
eur/usd 0.9365 0.93331
gbp/usd 0.80497 0.80223
aud/usd 1.54166 1.53062
usd/cad 1.37221 1.36545
usd/mxn 17.071 16.9084
Equities and Commodities
S&P 500 5078.81
NASDAQ 17573.7
DOW 38475.1
GOLD 2319.89
SILVER 27.22

This document is for information purposes only and does not constitute any recommendation or solicitation to any person to enter into any transaction or adopt any trading strategy, nor does it constitute any prediction of likely future movements in exchange rates or prices or any representation that any such future movements will not exceed those shown on any illustration. All exchange rates and figures appearing are for illustrative purposes only. You are advised to make your own independent judgment with respect to any matter contained herein.