FX.co ★ Dollar Holds Ground as Investors Digest Key Data, Tariff Headlines

The dollar index maintained its position above 99.1 on Tuesday, regaining some footing after its recent declines, as market participants analyzed new economic data and awaited developments in global trade. New U.S. trade figures revealed that the goods deficit soared to a record-high $162 billion in March, exceeding predictions, as imports increased—likely because businesses and consumers rushed to purchase goods ahead of tariffs newly announced by President Trump on April 2nd. Concurrently, consumer confidence dropped for the fifth consecutive month in April, reaching its lowest point since the onset of the COVID-19 pandemic, with expectations plummeting to a 13-year low. Furthermore, job openings fell more significantly than anticipated in March. On the international trade stage, Treasury Secretary Bessent commented that Chinese tariffs are "unsustainable for China" and mentioned that the U.S. was "very close" to finalizing a trade agreement with India. Looking forward, investors are focusing on the release of Q1 GDP figures and the Fed's preferred PCE inflation measure on Wednesday, followed by the April employment report on Friday.