Forex Today: The Dollar's pause allowed some respite in the risk complex

The Greenback saw its recent rally run out of steam, prompting a corrective move in the USD Index (DXY) and some recovery in the risk-linked galaxy amidst persistent geopolitical concerns and a firm conviction of an ECB rate cut in the summer.

Here is what you need to know on Thursday, April 18:

The Greenback came under pressure and forced the USD Index (DXY) to retreat from recent peaks. On April 18, the usual weekly Initial Jobless Claims are due along with the Philly Fed Manufacturing Index, the CB Leading Index and Existing Home Sales. In addition, Fed's Bowman, Bostic and Williams are also due to speak.

EUR/USD rose to three-day highs on the back of the renewed selling pressure in the greenback and a risk-friendly environment in the global markets.

GBP/USD regained the smile and revisited the upper 1.2400s on risk-on sentiment and following expectations of a BoE's rate cut later in the year.

USD/JPY traded on the defensive after two consecutive sessions of gains, although managing well to keep the trade north of 154.00. In Japan, the weekly Foreign Bond Investment and the speech by BoJ Noguchi are scheduled for April 18.

AUD/USD set aside a three-session negative streak and rebounded from recent yearly lows in the sub-0.6400 area. The release of the Australian labour market report takes centre stage on April 18.

WTI dropped markedly and flirted with the $82.00 mark per barrel on easing geopolitical concerns and a larger-than-estimated weekly build in US crude oil inventories.

Gold prices retreated modestly below the $2,400 mark per troy ounce pari passu with shrinking geopolitical jitters. Silver prices left behind Tuesday's strong decline and rebounded past the $28.00 mark per ounce.