| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 00:30 | Australia | Westpac Consumer Confidence | April | 4% | -0.9% | -6% |
| 01:30 | Australia | National Australia Bank's Business Confidence | March | -2 | -3 | -3 |
| 06:45 | France | Trade Balance, bln | February | -6.5 | -5.4 | -7.9 |
During today's Asian trading, the US dollar declined significantly against major currencies amid growing recession fears triggered by President Trump’s aggressive tariffs, while Japanese yen and Swiss franc hovered near six-month highs. Currency markets remained fragile but calm in Asia after a volatile session. Global equities have fallen since Trump imposed new tariffs last week, prompting swift retaliation from China and the EU, escalating trade tensions.
The US Dollar Currency Index (DXY), which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona) fell by 0.58% to 102.59.
Though traditionally a safe haven, the dollar is losing that status due to growing concerns about a U.S. slowdown. Investors now expect the Fed may cut rates as early as May, undermining the dollar’s yield advantage. Fed officials remain cautious. Chicago Fed President Austan Goolsbee emphasized reliance on hard data, while Charles Schwab’s Kevin Gordon questioned the effectiveness of rate cuts given sticky inflation. Although inflation is expected to rise due to tariffs, investors believe recession fears outweigh the inflation threat. U.S. consumer price data due later this week is expected to show another 0.3% increase in March, but analysts believe it's only a matter of time before tariffs sharply raise prices on everything from food to cars.
Commodity-linked currencies like the Australian and New Zealand dollars rebounded slightly, though still near multi-year lows. Meanwhile, China’s yuan hit its weakest level since 2023, as the central bank loosened its grip in response to export pressures.