Alright, so the US Dollar’s just chilling out this Tuesday after kinda hitting rock bottom on Monday, like seriously, a three-year low, whoa! Markets are on edge, waiting for those Fed folks to say something, and everyone’s gonna be watching Tesla’s earnings like it’s the season finale of a reality TV show. Trump’s out here going after Fed Chair Jerome Powell, calling him names and trying to toss him out the window. The Dollar Index is hanging below the 100.00 line like a cat too scared to climb down from a tree.
The DXY, which is how we fancy folks track the Dollar against a bunch of other big-shot currencies, is just stuck in limbo. Everyone’s got their jaws on the floor after the Dollar nosedived during Asian trading. Monday was all quiet in Europe and the US because of Easter, but Trump’s over there throwing shade at Powell for not cutting rates. He probably thinks it’s the Fed’s fault the Dollar is crashing harder than my hope of sticking to a New Year’s resolution.
Economics calendar? Yeah, that’s a thing. People are mainly peeping at the PMI data coming out on Wednesday. And don’t forget on Thursday, we’ll get the word on durable goods orders. But for now, it’s all about what the Fed folks are saying. We’ve got a bunch of them yapping away today. Richmond Fed’s gotta tell us what’s up with manufacturing, even though, let’s be real, it’s kinda like when your coworker emails you an article from three weeks ago. Tesla, though, after the closing bell, is where the real gossip’s at. Might Elon tell us when he’s bouncing from the Department of Government Efficiency? Stay tuned!
Daily drama? It’s all about keeping Powell from getting kicked to the curb. We’ve got Fed folks talking economics all over. Philly Fed’s Patrick Harker’s spouting off about regional growth. Philly must be the hotspot today ’cause Philip Jefferson is mixing it up there too, all about economic mobility. Around the same time, we’ll get a look at what’s happening with manufacturing from Richmond. Then there’s Neel Kashkari saying stuff at the global summit in Washington later. By nightfall, Adriana Kugler’s laying down some wisdom on how monetary stuff is flowing, and THEN – back to Tesla, of course!
Stocks are teetering; Europe’s kinda drooping while US markets try to shake off Monday’s blues. Everyone’s watching those interest rates like a hawk. Cut chances are slim for May, but June? Who knows! US 10-year yields are hovering around 4.39% ’cause bonds have been flying off the shelves recently.
DXY’s technical vibes are mixed. It’s flirting with ditching the 100.00 mark, which is, on paper, not great. It’s in oversold territory, so maybe a bounce is in the books, but don’t hold your breath. Upside? Eh, we’ve got resistance at 99.58 and maybe a pop back over 100.00 if the bulls decide to rally. Below? We’re looking at 97.73 soon, and if it breaks, things might just go south real quick to levels we haven’t seen since 2022.
Ah, Fed FAQs! The Fed, the puppet master of US money matters, is trying to balance prices and jobs. Mess around with interest rates and blame the Dollar’s woes on them, right? They’re closing in on eight meetings a year – ain’t nobody got time for that! QE and QT are their super-tools – inflate or deflate with a flick of their magical policy wand.
So there we have it, another day in the wild world of economics, where rates are low, hopes are high, and the Dollar’s shadowboxing with itself. Who says finance isn’t full of drama? It’s all one big messy beautiful dance.
