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US Dollar Moves Higher to Start Q2; Markets Prepare for Busy Week

Published April 3, 2017
  • The US dollar and US stock futures are set to open higher for the start of the second quarter of 2017
  • The market is preparing for a busy week ahead that includes a meeting between Chinese President Xi Jinping and US President Donald Trump and the release of US job numbers and other important data
  • Trump is set to meet Xi on April 6-7 at his Mar-a-Lago estate in Florida; the two leaders have had a contentious start to their diplomatic relationship over trade, currency manipulation and tensions over North Korea
  • New York Fed Chief William Dudley will speak on US financial conditions today at 10:30 AM EST; Philadelphia Fed President Patrick Harker will follow at 3:00 PM EST and Richmond Fed President Jeffrey Lacker is set to speak at 9:00 PM EST
  • The market looks to Canadian manufacturing data today at 9:30 AM EST to gauge business and growth sentiment in the Canadian economy; manufacturing numbers for the US follow at 9:45 AM EST and 10:00 AM EST
  • Oil prices held steady this morning as investors wrestled with increased demand in Asia against a rebound in Libyan and US oil production; Libya’s largest oil field resumed production on Sunday after a week-long disruption while the number of US oil rigs rose by 10 to 662 last week
  • European manufacturing numbers and unemployment rates came in close to predictions this morning; month-on-month Industrial Producers Prices showed no signs of growth in the euro zone, while year-on-year grew by .20%