- The US Dollar Index is gaining ground as the yields on 2-year and 10-year US Treasury bonds cease their downward trajectory.
- The preliminary estimate for US GDP growth in Q1 indicates a mere 0.4% year-over-year increase, a significant deceleration from the 2.4% expansion recorded in the prior quarter.
- JOLTS Job Openings data revealed a drop to 7.19 million in March, marking the lowest level observed since September 2024, signaling a potential cooling in the labor market.
The US Dollar Index (DXY), a measure of the US Dollar’s (USD) value relative to a basket of six major global currencies, is extending its upward momentum for the second consecutive trading day, hovering around the 99.40 mark during Wednesday’s European trading session. Market participants are closely monitoring the index as an indicator of overall dollar strength.
The US Dollar is strengthening as the 2-year and 10-year US Treasury bond yields arrest, their recent decline, trading at approximately 3.66% and 4.16%, respectively, as of the latest observation. Market attention is now keenly focused on the forthcoming release of the US Core PCE Price Index data for March, a key inflation gauge monitored by the Federal Reserve, as well as the Q1 Annualized GDP figures, both scheduled for release later during the North American trading hours. These data points will provide further insights into the health of the US economy and potential future monetary policy decisions.
The Bureau of Economic Analysis (BEA) is anticipated to report a considerable slowdown in the pace of US economic expansion, with the initial estimate for Q1 GDP projecting an annualized growth rate of just 0.4%, a substantial decrease from the 2.4% growth rate recorded in the fourth quarter of the previous year. This anticipated deceleration is largely attributed to the dampening effect of recently implemented tariffs imposed by President Donald Trump, which have introduced headwinds for international trade and domestic economic activity.
Adding to concerns about the economic outlook, Tuesday’s JOLTS report revealed that US job openings decreased to 7.19 million in March, representing the lowest level since September 2024. This decline underscores emerging signs of softening labor demand and increasing uncertainty surrounding the overall economic trajectory. The data suggests that employers are becoming more cautious in their hiring plans, potentially signaling a broader economic slowdown.
Investor and consumer confidence in the United States (US) experienced a further setback on Tuesday, as the Conference Board’s Consumer Confidence Index registered a sharp decline to 86.0 in April, down from a revised 93.9 in March. This represents the lowest level since April 2020, reflecting growing public apprehension regarding the potential adverse effects of the ongoing trade disputes and tariff implementations on the broader economy and personal finances.
However, there are indications that trade tensions may be easing somewhat, as President Trump has signaled a willingness to consider reducing tariffs on goods imported from China. Concurrently, Beijing has announced exemptions for certain US imports from its 125% tariff list, raising hopes for a potential resolution to the protracted trade dispute and fostering a more constructive environment for international commerce. Any progress in resolving these trade disputes could provide a boost to economic sentiment and global growth prospects.
US Dollar PRICE Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.12% | 0.31% | 0.41% | 0.04% | -0.19% | 0.11% | 0.15% | |
| EUR | -0.12% | 0.20% | 0.31% | -0.08% | -0.31% | -0.00% | 0.03% | |
| GBP | -0.31% | -0.20% | 0.10% | -0.28% | -0.50% | -0.20% | -0.17% | |
| JPY | -0.41% | -0.31% | -0.10% | -0.39% | -0.61% | -0.26% | -0.26% | |
| CAD | -0.04% | 0.08% | 0.28% | 0.39% | -0.22% | 0.07% | 0.13% | |
| AUD | 0.19% | 0.31% | 0.50% | 0.61% | 0.22% | 0.30% | 0.34% | |
| NZD | -0.11% | 0.00% | 0.20% | 0.26% | -0.07% | -0.30% | 0.04% | |
| CHF | -0.15% | -0.03% | 0.17% | 0.26% | -0.13% | -0.34% | -0.04% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
