USD: Data-light days can be good for the dollar – ING

Source Fxstreet

The dollar had another good session yesterday and stayed bid overnight. There was no clear catalyst in data or market events, and the USD rebound seems to be more related to the unwinding of short positions ahead of US tariffs being implemented on 2 April, ING's FX analyst Francesco Pesole notes.

Empty US data calendar provides better opportunities for the greenback

"Coincidentally, European equities have lagged US stocks this week – a rare occurrence lately. Likely contributing to that is the more tepid optimism on an imminent Russia-Ukraine truce after high-level talks this week only yielded a halt to energy infrastructure strikes."

"Our preference is to chase the dollar rebound at this stage, but we admit that data can easily get in the way. Yesterday, the US Conference Board Leading Index came in just below consensus at -0.3% month-on-month, a soft print but not as alarming as other indicators. At the same time, there is still very little evidence from jobless claims of stress in the labour market."

"The US data calendar is empty today. A day without key data may offer better opportunities for the greenback to keep recovering ground. The Federal Reserve's blackout period is also officially over, and the cautious tone struck by the FOMC and Chair Jerome Powell this week likely leaves decent room for post-meeting tweaks in communication. Those should mostly come after new data has been released, but we’ll still keep a close eye on the dovish-leaning Austan Goolsbee's interview with CNBC today."

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Solana (SOL) Price Underwhelms, Experts Believe Cardano (ADA) and Mutuum Finance (MUTM) Are Set To SkyrocketThe crypto market suffers from jitters which have forced Solana (SOL) to decline 15% resulting in its current price of $131. Whales sold $26 million worth of SOL tokens while founder Anatoly Yakovenko failed to improve the situation through his comparisons of U.S. bonds to the MicroStrategy financial problems.
Author  Cryptopolitan
Yesterday 09: 58
The crypto market suffers from jitters which have forced Solana (SOL) to decline 15% resulting in its current price of $131. Whales sold $26 million worth of SOL tokens while founder Anatoly Yakovenko failed to improve the situation through his comparisons of U.S. bonds to the MicroStrategy financial problems.
placeholder
USD/JPY weakens below 142.50 as Japanese CPI came in at 3.6% YoY in MarchThe USD/JPY pair softens to near 142.25 in a thin trading volume session on Friday. The US Dollar (USD) edges lower against the Japanese Yen (JPY) amid concerns over the economic impact of tariffs. 
Author  FXStreet
11 hours ago
The USD/JPY pair softens to near 142.25 in a thin trading volume session on Friday. The US Dollar (USD) edges lower against the Japanese Yen (JPY) amid concerns over the economic impact of tariffs. 
placeholder
Gold price loses momentum on profit-taking The Gold price (XAU/USD) holds steady on Friday after retreating from an all-time high of $3,358 as investors book profits during a long Easter weekend.
Author  FXStreet
10 hours ago
The Gold price (XAU/USD) holds steady on Friday after retreating from an all-time high of $3,358 as investors book profits during a long Easter weekend.
placeholder
XRP Price Eyes Recovery To $3 As Analyst Reveals How High The Price Would Be In Altcoin SeasonCrypto analyst BarriC has predicted that the XRP price could soon recover and rebound to as high as $3. The analyst also revealed how high the token could reach when the altcoin season begins. 
Author  Bitcoinist
10 hours ago
Crypto analyst BarriC has predicted that the XRP price could soon recover and rebound to as high as $3. The analyst also revealed how high the token could reach when the altcoin season begins. 
placeholder
Forex Today: Markets stabilize as trading volume thins out on Easter FridayMajor currency pairs stay quiet on Friday as trading volumes thin out, with major markets remaining closed in observance of the Easter Holiday.
Author  FXStreet
5 hours ago
Major currency pairs stay quiet on Friday as trading volumes thin out, with major markets remaining closed in observance of the Easter Holiday.
Related Instrument
goTop
quote