{"id":8303,"date":"2025-04-28T18:13:00","date_gmt":"2025-04-28T22:13:00","guid":{"rendered":"https:\/\/sharewatch.com\/wp\/2025\/04\/28\/dollar-erases-early-gains-on-economic-concerns\/"},"modified":"2025-04-28T18:13:00","modified_gmt":"2025-04-28T22:13:00","slug":"dollar-erases-early-gains-on-economic-concerns","status":"publish","type":"post","link":"https:\/\/sharewatch.com\/wp\/2025\/04\/28\/dollar-erases-early-gains-on-economic-concerns\/","title":{"rendered":"Dollar Erases Early Gains on Economic Concerns"},"content":{"rendered":"<div class=\"layout__region nsdq-l-grid__item syndicated-article-body\">\n<section class=\"jupiter22-c-article-body\">\n<div class=\"body\">\n<div class=\"body__content\">\n<p>The dollar index (DXY00) today is down by -0.09%.\u00a0 The dollar today gave up an early advance and turned lower on economic concerns after the Apr Dallas Fed manufacturing survey of general business activity index fell more than expected to a 5-year low. \u00a0The dollar is also under pressure on concerns that the US-China trade war could drag on and weigh on US growth prospects after President Trump said the US would not lower tariffs on China unless \u201cthey give us something substantial.\u201d<\/p>\n<p>The dollar today initially moved higher on comments from US Treasury Secretary Bessent, who said the US is working on bilateral trade deals with 17 key trading partners, not including China.\u00a0 Higher T-note yields today are also supportive of the dollar.\u00a0<\/p>\n<div class=\"ads__inline\">\n<div id=\"js-dfp-tag-3fA\"  class=\"btf-bodymidpagetwothirdswidth-1\">          <script type=\"text\/javascript\">         googletag.cmd.push(function() {             \/\/ Check if ID matches ID in the window.adsList array before calling googletag.display             function isAdInAdsList(id) {             for (var i = 0; i < window.adsList.length; i++) {                 if (window.adsList[i].id === id) {                     return true;                 }             }             return false;         }         if (isAdInAdsList('js-dfp-tag-3fA')) {             googletag.display('js-dfp-tag-3fA');         }         });     <\/script> <\/div>\n<\/p><\/div>\n<p>     <span>Join 200K+ Subscribers: <\/span> Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.  <\/p>\n<p>\u00a0<\/p>\n<p>The US Apr Dallas Fed manufacturing survey of general business activity index fell -19.5 points to a 5-year low of -35.8, weaker than expectations of -17.0.<\/p>\n<p>The markets are discounting the chances at 8% for a -25 bp rate cut after the May 6-7 FOMC meeting, down from a 30% chance last week.<\/p>\n<p>EUR\/USD (^EURUSD) today is up by +0.11%.\u00a0 The euro today recovered from early losses and moved higher after the dollar weakened.\u00a0 The euro today initially moved lower on some dovish ECB comments.\u00a0 ECB Governing Council member Villeroy de Galhau said the ECB has room to cut interest rates, and ECB Governing Council member Rehn said he sees downside risks in the ECB\u2019s March inflation forecasts.\u00a0<\/p>\n<p>ECB Governing Council member Villeroy de Galhau said the ECB has room to lower interest rates as the trade war triggered by US tariffs will weigh on the global economy but won\u2019t affect the inflation trend in Europe.<\/p>\n<div class=\"ads__inline\">\n<div id=\"js-dfp-tag-NT8\"  class=\"btf-bodymidpagetwothirdswidth-2\">          <script type=\"text\/javascript\">         googletag.cmd.push(function() {             \/\/ Check if ID matches ID in the window.adsList array before calling googletag.display             function isAdInAdsList(id) {             for (var i = 0; i < window.adsList.length; i++) {                 if (window.adsList[i].id === id) {                     return true;                 }             }             return false;         }         if (isAdInAdsList('js-dfp-tag-NT8')) {             googletag.display('js-dfp-tag-NT8');         }         });     <\/script> <\/div>\n<\/p><\/div>\n<p>ECB Governing Council member Rehn said that due to the fallout from US tariffs, \u201cI find it reasonable to assume that there are downside risks to the inflation outlook in the ECB\u2019s March projections.\u201d<\/p>\n<p>Swaps are discounting the chances at 100% for a -25 bp rate cut by the ECB at the June 5 policy meeting.<\/p>\n<p>USD\/JPY (^USDJPY) today is down by -0.60%.\u00a0 The yen today is moderately higher on short covering ahead of Thursday\u2019s BOJ policy meeting.\u00a0 Higher T-note yields today are limiting gains in the yen.\u00a0 Also, today\u2019s rally in the Nikkei Stock Index to a 4-week high reduced safe-haven demand for the yen.\u00a0 In addition, today\u2019s statement from the BOJ that it will purchase government bonds in May at the same pace as April was bearish for the yen as it damped speculation the BOJ, in a hawkish move, would cut its bond purchases.\u00a0<\/p>\n<p>June gold (GCM25) today is up +9.60 (+0.29%), and May silver (SIK25) is down -0.230 (-0.70%).\u00a0 Precious metals prices today are mixed. \u00a0Today\u2019s weaker dollar is supportive of precious metals prices. \u00a0Gold is also climbing today on dovish comments from ECB Governing Council member Villeroy de Galhau, who said the ECB has room to lower interest rates.\u00a0 Concern the US-China trade war will persist and undercut global economic growth is boosting safe-haven demand for gold and undercutting silver after President Trump said the US would not lower tariffs on China unless \u201cthey give us something substantial.\u201d Geopolitical risks in the Middle East are boosting safe-haven demand for precious metals as the Israel-Hamas and the US-Houthi conflicts continue.\u00a0 Higher global bond yields today are negative for precious metals.<\/p>\n<p><i>     On the date of publication,      Rich Asplund              did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy          here. <\/i><\/p>\n<p>\u00a0<\/p>\n<div class=\"ads__inline\">\n<div id=\"js-dfp-tag-Wm8\"  class=\"btf-bodymidpagetwothirdswidth-3\">          <script type=\"text\/javascript\">         googletag.cmd.push(function() {             \/\/ Check if ID matches ID in the window.adsList array before calling googletag.display             function isAdInAdsList(id) {             for (var i = 0; i < window.adsList.length; i++) {                 if (window.adsList[i].id === id) {                     return true;                 }             }             return false;         }         if (isAdInAdsList('js-dfp-tag-Wm8')) {             googletag.display('js-dfp-tag-Wm8');         }         });     <\/script> <\/div>\n<\/p><\/div>\n<p> More news from Barchart <\/p>\n<ul>\n<li>Silver Stays Resilient as Gold Wobbles. More Upside Is Likely Ahead.<\/li>\n<li>Gold Prices Just Hit New Record Highs. Is the Bull Market Peaking?<\/li>\n<li>July Silver Futures Could Get a Lift from Record-High Gold Prices. Here Are the Levels to Watch Before You Buy.<\/li>\n<li>Is Silver Back on a Bullish Path?<\/li>\n<\/ul>\n<p class=\"body__disclaimer\">The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<p>        <script type=\"text\/javascript\">   \/\/ add oddAd class to every odd instance of body .ads__inline for different placeholder styles   let articleAds = document.querySelectorAll('.ads__inline');   for (let i = 0, len = articleAds.length; i < len; i++) {     \/\/ Do the below only if the curent count is less than 12     if ((i < 12) &#038;&#038; (i % 2 === 0)) {       articleAds[i].className += ' oddAd';     }   } <\/script>                                               <\/p>\n<div class=\"jupiter22-c-tags jupiter22-c-tags-default\">\n<h3 class=\"jupiter22-c-tags-title\">         Tags       <\/h3>\n<div class=\"jupiter22-c-tags-container\">Stocks<\/div>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The dollar index (DXY00) today is down by -0.09%.\u00a0 The dollar today gave up an early advance and turned lower on economic concerns after the Apr Dallas Fed manufacturing survey of general business activity index fell more than expected to a 5-year low. \u00a0The dollar is also under pressure on concerns that the US-China trade 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