Market participants witnessed renewed dollar softness as risk sentiment improved marginally at the start of the trading week. Treasury yields edged higher while traders positioned cautiously before pivotal US inflation figures and cardano price prediction 2025central bank communications.
Critical Market Developments for April 9 Trading Session
The greenback's downward trajectory persisted as investors recalibrated positions before consequential economic releases. Market focus shifts to the NFIB Business Optimism Index alongside the RCM/TIPP Economic Optimism survey, with additional attention on Fed official Kashkari's scheduled remarks.
EUR/USD demonstrated notable resilience, recovering from Friday's retracement to challenge resistance near 1.0860. The currency pair's performance reflects shifting expectations ahead of the European Central Bank's policy decision later this week.
Sterling gained traction against its US counterpart, with GBP/USD testing the 100-day moving average around 1.2660. Market participants await British retail sales data for fresh directional cues regarding the UK economic outlook.
The yen continued to hover near multi-decade lows against the dollar, with USD/JPY encountering resistance below the psychologically significant 152.00 level. Upcoming Japanese consumer confidence metrics may influence near-term price action.
Commodity-linked currencies found support from dollar weakness, with AUD/USD reclaiming ground above the 0.6600 handle. Australian consumer confidence surveys scheduled for release could provide additional trading catalysts.
Energy markets witnessed downward pressure as geopolitical concerns moderated, with WTI crude posting consecutive declines. The API's weekly inventory report may offer fresh impetus for oil price movements.
Precious metals extended their bullish momentum, with gold prices establishing new record highs above $2,350. Silver similarly outperformed, breaching the $28.00 threshold for the first time in nearly three years, reflecting ongoing safe-haven demand.
