The US dollar extended its recovery in the new quarter, at least against the majors. Is this trend real? US inflation data and the FOMC meeting minutes stand out in the second week of April. Here are the highlights for the upcoming week.
The US gained only 103K jobs in March, fewer than expected. However, wage growth accelerated to 2.7%, in line with early projections. The greenback continued its recovery against its major peers, clawing back lost ground, regardless of the turbulence in stocks and the worsening tensions around trade. The only exception was the Canadian dollar, which enjoyed a strong gain in domestic jobs and also the rising chances for a deal on NAFTA.