xCorsarz @xCorsarz: "Dollar Gains Despite Dismal Consumer..."

Poland

Dollar Gains Despite Dismal Consumer Confidence Data April's Conference Board Consumer Confidence Index fell sharply to 97.0 from a revised 103.1, well below the consensus forecast of 104.0. This marks the lowest reading since February 2021 and extends the concerning trend seen in Q1 GDP data, suggesting a weakening US consumer that could spell trouble for the broader economy. The Conference Board's survey showed a rising share of respondents saying jobs are harder to get. Despite the weak data, the dollar gained slightly, while Wall Street indices declined. The weekly dollar index futures contract is signaling potential for further strengthening of the US currency. A break above the two-week high of 106.31 would point to a move towards the October 2022 peak of 107.00. Recent days have seen a rollercoaster ride for the yen after yesterday's suspected currency intervention by Japanese authorities. However, pressure for a stronger dollar could push the yen towards the 160.00 level again. It remains to be seen whether this would trigger another intervention by Japanese authorities. $AUDUSD (AUD/USD) $EURUSD (EUR/USD) $GBPUSD (GBP/USD) $NZDUSD (NZD/USD) $USDCAD (USD/CAD)

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