The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, consolidates for a second day in a row this week and hovers near 104.20 at the time of writing on Wednesday.
The Greenback remains sidelined just hours before United States (US) President Donald Trump announces the reciprocal tariff implementation at the White House at 20:00 GMT. The White House and the Trump administration are very sketchy in details, and until now, it remains unclear what the tariffs will mean for markets.
On the economic data releases, this Wednesday's main event will be the Automatic Data Processing (ADP) private sector employment data. As per usual in the Nonfarm Payrolls (NFP) week, the ADP number precedes the official NFP number from the Bureau of Labor Statistics (BLS). Although there is no real correlation between the NFP and the ADP numbers for the private sector, it could set the tone for expectations for Friday.
Source: FXStreet
