10 April 2019 : The US Dollar may react to some near-term catalysts in the form of the pending March US inflation print, the minutes from last month’s surprisingly dovish Fed meeting that are scheduled for release later today, and Fed Chair Jerome Powell’s speeches over the next three days.

Should any of these events support expectations of a Fed rate cut, with the Fed Funds Futures already expecting a 55 percent chance of a cut by December, that could see the Dollar Index (DXY) sink back towards 96.80. However, any drop would likely be mitigated by the worsening global outlook, which is offering support for the Greenback.

Source: Lukman Otunuga, FXTM Research

Reporting for EasyKobo on Wednesday , 10 April 2019 in Lagos, Nigeria