US dollar’s rally continues to three days of triumph.
The US Dollar (USD) rebounds and rejoices with the return of King Dollar, following Fed Board Member Christopher Waller’s decision to cancel a June interest rate drop. The dollar is surging through the markets, up against every major G20 counterpart.
The US Dollar (USD) rebounds and rejoices with the return of King Dollar, following Fed Board Member.
Markets are moving for fewer and later rate reduction as the economy and inflation heat up.
Thursday has a very full calendar, even if many statistics are final readings from preliminary. estimates and hence have less market impact. Examples include the fourth-quarter US GDP reading and the March data from the University of Michigan. Rather, watch for the Jobless Claims and the Chicago Purchasing Managers Index (PMI) to spark some follow-through in US Dollar strength on Thursday.
Daily Market movers: cherry choosing from the data.
The US dollar is surging through the markets, up against every major G20 counterpart.
The first batch of data is due around 12:30 GMT, and can be divided into two parts:
The US GDP final number for Q4 will be released:
Headline GDP is predicted to remain at 3.2%, the same as previously estimated.
The GDP price index is expected to continue at 1.7%.
Core personal consumption expenditures are predicted to grow by 2.1%.
This week’s jobless claims are predicted to reach 215,000, slightly higher than last week’s figure of 210,000.
Continuing Claims should stay at 1.807 million.
The Chicago Purchasing Manager Index for March is predicted to rise from 44 to 46 by 13:45 GMT.
The University of Michigan’s final reading for March will be released at 14:00 GMT.
Consumer sentiment is projected to hold steady at 76.5.
Consumer inflation expectations will remain constant at 2.9%.
Inflation expectations will remain constant at 2.9%.
The Kansas Fed Manufacturing Index for March will be announced at 15:00 GMT, having previously been at 3. There is no prediction available.
The US Dollar (USD) rebounds and rejoices with the return of King Dollar, following Fed Board Member Christopher Waller’s decision to cancel a June interest rate drop.
The European trading session has seen a small increase in equity prices. US equity futures appear flat ahead of the opening bell.
According to the CME Group’s FedWatch Tool, the Fed’s May 1 meeting is expected to maintain the fed funds rate unchanged by 94.8%, with the possibility of a rate drop at 5.2%.
The benchmark 10-year US Treasury note is trading at 4.21%, up from 4.18% earlier this week.
