Here is what you need to know on Wednesday, April 3:
The US Dollar (USD) lost its strength following the bullish action seen on Monday and the USD Index closed in negative territory on Tuesday. On Wednesday, Eurostat will release the preliminary Harmonized Index of Consumer Prices (HICP) data for March. Later in the day, the US economic calendar will offer ADP Employment Change and the ISM Services PMI reports for March. During the American trading hours, Federal Reserve Chairman Jerome Powell will speak on the economic outlook at the Stanford Business, Government, and Society Forum.
US Treasury bond yields continued to push higher on Tuesday and major equity indexes turned south after the opening bell. Despite these developments, the USD struggled to outperform its rivals as market participants started to adjust their positions ahead of key data releases. Early Wednesday, the 10-year yield holds comfortably above 4.3% and US stock index futures trade modestly lower. Meanwhile, the USD Index stays in a consolidation phase below 105.00 after losing 0.2% on Tuesday
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.