FX.co ★ Dollar Steady as Markets Await Key US Economic Data

On Wednesday, the US dollar index remained stable at around 99.2 as investors awaited pivotal economic data that could shed light on the initial impacts of recently imposed tariffs. Key indicators on the radar include the March PCE price index, widely regarded as the Federal Reserve’s preferred measure of inflation, and the first estimate of the first-quarter GDP, both of which are expected to be released later today. On the previous day, statistics revealed that the US goods trade deficit expanded to an unprecedented $162 billion in March, significantly surpassing projections, as import volumes surged—likely driven by efforts to procure goods before the tariffs announced by President Trump on April 2nd took effect. To mitigate the repercussions of his new auto tariffs, President Trump enacted a series of executive orders to provide tax credits and relieve certain material levies. Additionally, he hinted at the potential for a forthcoming trade agreement with India, while discussions with Japan and South Korea were reportedly making progress.