The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades flat at 99.30 at the time of writing on Wednesday. The Greenback is not really going anywhere as investors stay on the sidelines against key data releases during the American session.
United States (US) President Donald Trump signed an executive order to ease the tariff impact on car parts and, during a rally in Detroit, lashed out at Federal Reserve Chairman Jerome Powell again, proclaiming Trump knows more about interest rates than Powell does.
On the economic calendar front, a general rehearsal will take place this Wednesday ahead of the Nonfarm Payrolls release on Friday.
The US Gross Domestic Product (GDP) preliminary reading for Q1 will already be a vital element to assess the first impact, if any, of the administration's tariff policy.
And that reading was a very bearish print, with GDP falling into contraction by -0.3%, missing the positive 0.4% expected.
Source: FXStreet
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