 Dollar retreated mildly following comments from two FOMC members, including a known hawkish figure, reiterating expectations for three interest rate cuts within the year. Despite this, the retreat remains subdued as there is no guarantee yet for a June cut. Fed's approach continues to be heavily influenced by incoming data. The greenback's next move will hinge on today's ISM Services data, as well as Friday's Non-Farm Payrolls. Euro is trading as the day's stronger currency, with anticipation building ahead of Eurozone CPI flash release. Market expectations suggest a slight moderation in both headline and core CPI to 2.5% and 3.0%, respectively, for March. Unless faced with significant downside surprises,ECB is poised to begin its interest rate cuts in June rather than April. In terms of weekly performance, Australian Dollar leads as the strongest currency, followed by Dollar and New Zealand Dollar. Swiss Franc finds itself as the weakest, with Sterling and Canadian Dollar also underperforming. Euro and Yen are situated mid-pack... |
