Weekly Market Recap: Currency Movements and Economic Data
The Greenback, after an initial surge, faced a modest pullback amid concerns over the US economy and uncertain tariff narratives. Let’s delve into the key highlights from the past week:
US Dollar Index (DXY)
- Closed the week virtually unchanged
- Erratic US yields, ongoing tariff worries, and fears of a potential economic slowdown influenced the index
- Upcoming data releases: ISM Manufacturing PMI, JOLTs Job Openings, Construction Spending, and more
EUR/USD
- Advanced modestly, rebounding from the 1.0730 zone
- Key data releases: Germany’s Inflation Rate, Retail Sales, and Import Prices
- Watch out for final HCOB Manufacturing PMI and more
GBP/USD
- Managed gains above 1.2900 barrier
- Key data releases: BoE’s Consumer Credit, Nationwide Housing Prices, and more
USD/JPY
- Climbed for the third consecutive week
- Preliminary Industrial Production readings and other data releases
AUD/USD
- Saw volatility but reversed previous week’s drop
- Upcoming data releases: RBA’s interest rate decision, Retail Sales, and more
Anticipating economic perspectives: Voices on the horizon
- BoE’s Greene, ECB’s Lagarde, Lane, Fed’s Barkin – April 1
- RBA’s Kent, ECB’s Schnabel, Lane, Fed’s Kugler – April 2
- RBA’s Bullock, ECB’s De Guindos, Fed’s Jefferson, Cook – April 3
- Fed’s Powell, Barr, Waller – April 4
Central banks: Upcoming meetings to shape monetary policies
- RBA meeting on April 1 (4.10% exp, unchanged)
- NBP decision on rates on April 2 (5.75% exp, unchanged)