Daily digest market movers: DXY rises as markets gear up for Fed decision, mid-tier data supports Greenback

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  • Conference Board's Consumer Confidence Index in the US dropped in April to the lowest level since July 2022, at 97.0, falling from March’s figure of 103.1. 
  • Elsewhere, the Employment Cost Index in the US rose by 1.2% YoY in the first quarter.
  • Market expectations show a 10% chance of a rate cut in June by the Fed, with odds decreasing to 33% for July, and remaining below 75% for September. 
  • For Wednesday, there are growing expectations for a hawkish surprise due to key Fed officials advocating for patience before initiating easing measures.


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