Forecasts for next week: Investors' attention remains on Fed rate cut bets

Expectations of a later-than-expected interest rate cut by the Federal Reserve boosted the dollar further, lifting the DXY to multi-month highs. There was no news at the ECB meeting, while fears of intervention in the currency market continued to hang over the Japanese Yen.

The dollar continued to rise and reached new highs thanks to the reduction of bets on a rate cut by the Fed in June. On April 15, retail sales will take center stage alongside business inventories, the New York Empire State Manufacturing Index and the NAHB Housing Market Index. On April 16, the focus will be on building permits, housing starts and industrial production, while the Fed's Beige Book will be released on April 17. Initial claims will be released on April 18 unemployment benefits, the Philadelphia Fed manufacturing index, the CB flash index and sales of homes for sale.

The EUR/USD pair fell to November levels, well below the 1.0700 support, due to the increasing strength of the Dollar. The weekly calendar begins with industrial production in the Euro zone on April 15, followed by economic sentiment according to the ZEW survey in Germany and the Euro bloc on April 16. On April 17, the final inflation rate for the euro zone will be published.

GBP/USD accelerated its losses and retreated to yearly lows near 1.2400 support amid increasing selling pressure in the risk complex. On the UK agenda will be the labor market report on April 16, before the inflation rate on April 17 and retail sales on April 19.

USD/JPY hit 34-year highs above the 153.00 level following dollar buying pressure and rising US yields. Machinery orders will be released on April 15, followed by the Reuters Tankan index and trade balance results on April 17. On April 18, foreign investment in bonds will be published, and on April 19, the inflation rate and the tertiary industry index will be published.

In a favorable context for the Dollar, AUD/USD once again hit multi-week lows below 0.6500. The Westpac Leading Index will be published on 17 April, followed by the labor market report on 18 April.

In China, the first quarter GDP growth rate, industrial production, retail sales and unemployment rate will be released on April 16, along with FDI figures on April 17. USD/CNH extended its upward correction to monthly highs near 7.2700.

Anticipating Economic Outlook: Voices on the Horizon

• BoE's Breeden speaks on April 15.
• The Fed's Daly and Jefferson will speak on April 16 along with the BoE's Bailey and the BoC's Macklem.
• The BoE's Greene, Haskel and Bailey will speak on April 17, along with the Fed's Mester.
• Bowman, Williams and Bostic of the Fed and Martin of the SNB will speak on April 18.
• BoE's Breeden and Ramsden will speak on April 19.