- The US Dollar stabilizes after a period of weakness, with the DXY US Dollar Index showing a decrease of approximately 0.50%.
- Chinese officials state that the removal of tariffs is a prerequisite for the commencement of discussions.
- The US Dollar Index continues to face resistance below the key psychological threshold of 100.00.
The US Dollar Index (DXY), which measures the US Dollar’s (USD) value relative to a basket of six prominent currencies, is trading down, around 0.50% as the US market opens on Thursday. This immediate response follows remarks from US President Donald Trump and US Treasury Secretary Scott Bessent. According to Bloomberg, both separately indicated that the US has not made any independent offers to China regarding tariff reductions, while Trump suggested that reciprocal tariffs could be reconsidered if negotiations do not progress as desired by his administration.
Regarding the economic calendar, the Durable Goods data presents a mixed view. The overall Durable Goods figure shows a significant increase of 10.4%, a stark contrast to the previous 0.8%, exceeding the anticipated 2.0% for March. However, the core Durable Goods, excluding automobiles and transportation, shows no growth at 0%, remaining unchanged from the prior 0.7% and falling short of the projected 0.2%.
