The U.S. Dollar weakened on Wednesday, experiencing a notable decline amid heightened caution preceding anticipated tariff announcements from President Trump. Key events for Thursday, April 3, include the U.S. Dollar Index (DXY) breaching the 104.00 level, driven by a significant retracement and a slight rebound in U.S. Treasury yields. Scheduled data releases encompass Balance of Trade figures, weekly Initial Jobless Claims, the final S&P Global Services PMI, Challenger Job Cuts, and the ISM Services PMI. Remarks from Federal Reserve Governors Cook and Jefferson are also scheduled. EUR/USD gained momentum, surpassing the 1.0870 resistance level, recovering from two consecutive daily pullbacks. The final HCOB Services PMI for Germany and the Eurozone will be released, followed by Eurozone Producer Prices, the ECB Accounts, and speeches from ECB officials De Guindos and Schnabel. GBP/USD extended Tuesday’s gains, retesting the 1.2980 area, representing a four-day high. The final S&P Global Services PMI constitutes the sole data release from the UK.
