The U.S. Dollar exhibited renewed bearish momentum on Wednesday, retreating to multi-month lows amidst a stable tariff environment and Federal Reserve Chairman Powell’s neutral commentary delivered in Chicago. Key economic data releases scheduled for Thursday, April 17, include Building Permits, Housing Starts, the Philadelphia Fed Manufacturing Index, and Initial Jobless Claims. The U.S. Dollar Index (DXY) declined to the low 99.00s, correlating with a decrease in U.S. Treasury yields across the yield curve. The EUR/USD pair experienced upward movement, approaching the 1.1400 level following two consecutive days of retracement. Market expectations suggest a potential 25 basis point interest rate reduction by the European Central Bank (ECB).
