Here is what you need to know on Wednesday, April 10:
The US Dollar (USD) holds steady as markets eagerly await the Consumer Price Index (CPI) data for March. Later in the American session, the Federal Reserve (Fed) will release the minutes of the March policy meeting. Additionally, the Bank of Canada (BoC) will announce monetary policy decisions before Governor Tiff Macklem speaks on the policy outlook and responds to questions from the press.
Major currency pairs spent the day fluctuating in familiar ranges on Tuesday as investors remained reluctant to take large positions before the US inflation data. On a yearly basis, the CPI is forecast to rise 3.4% in March, while the Core CPI is expected to increase 3.7%. Financial markets stay subdued early Wednesday, with the USD Index moving sideways slightly above 104.00. In the meantime, US stock index futures trade marginally higher following Wednesday's choppy action and the benchmark 10-year US Treasury bond yield stays below 4.4% after losing more than 1% in the previous day.
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