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Dollar sees subdued trades ahead of key US data

Published on Apr 25, 2024 11:35

Amidst anticipation surrounding the release of US GDP data for the first quarter, the dollar index maintained a subdued stance around 105.8. Investors are carefully positioning themselves, recognizing the potential influence of this data on the Federal Reserve`s monetary policy trajectory. Additionally, market attention is directed towards Friday`s PCE price index report, offering further insights into inflation trends, a pivotal factor for the Fed. The prevailing sentiment reflects a subtle shift, with reduced expectations for rate cuts by both the ECB and the Federal Reserve this year, attributed to persistent inflationary pressures and indications of economic resilience in the US. While the dollar experienced recent declines against several major currencies, its ascent to fresh 34-year highs against the Japanese yen underscores the heightened anticipation for policy cues from the Bank of Japan.

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