S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
Philip Wee of DBS Group Research observes that the US Dollar (USD), as measured by the US Dollar Index (DXY), has lost upside momentum after an earlier rebound. The index has stalled around 99 following a decline from 100.6 to just under 98 earlier in April. This comes as markets weigh Fed leadership uncertainty, G7 policy expectations and volatile Oil prices.
DXY pauses after earlier slide
“The DXY Index’s rebound has stalled around 99, following its decline from 100.6 to slightly below 98 in the first half of this month.”
“This week, currency markets face multiple cross-currents: volatile oil prices, Powell’s stance on whether he will remain as Fed Governor until Jan 2028, potential rate-hike pivots at G7 central bank meetings, and the War Powers Resolution vote and deadline.”
“The Bank of Japan, European Central Bank, and Bank of England are expected to remain on hold this week, but the market is pricing a hawkish pivot for rate hikes at their following meetings, diverging from expectations that Warsh’s confirmation would dampen the Fed’s high-for-longer USD premium.”
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