周三，美元指数稳定在99.2左右，因为投资者在关键经济数据公布之前持观望态度，这些数据可能会提供对最近征收关税的早期影响的见解。市场正密切关注3月份个人消费支出价格指数（美联储首选的通胀指标）和第一季度国内生产总值的首次估算，这两项数据将于今天晚些时候公布。周二，数据显示，随着进口量的激增，美国3月份的商品贸易逆差飙升至创纪录的1620亿美元，远远超出预期，这可能是由于在特朗普总统4月2日宣布关税之前急于确保商品安全。为了缓解新汽车关税的影响，特朗普总统签署了一系列行政命令，提供税收抵免和某些材料税的减免。他还表示，与印度的贸易协议可能即将达成，而据报道，与日本和韩国的谈判正在取得进展。

The US dollar index held steady around 99.2 on Wednesday as investors stayed on the sidelines ahead of key economic releases that could offer insights into the early effects of recently imposed tariffs. Markets are closely watching the March PCE price index—the Federal Reserve’s preferred inflation gauge—and the first estimate of Q1 GDP, both due later today. On Tuesday, data showed the US goods trade deficit surged to a record $162 billion in March, far exceeding expectations, as import volumes jumped—likely driven by a rush to secure goods ahead of tariffs announced by President Trump on April 2nd. To cushion the impact of his new auto tariffs, President Trump signed a series of executive orders offering tax credits and relief from certain material levies. He also suggested that a trade deal with India could be imminent, while talks with Japan and South Korea were reported to be progressing.

随着关税担忧的加剧，美元稳定但脆弱。周三，美元保持稳定，但预计将出现自2022年11月以来的最低月度表现，因为唐纳德·特朗普总统领导下的不稳定的美国贸易政策使美元变得脆弱，同时提振了欧元、日元和瑞士法郎。

Dollar steady but vulnerable as tariff worries take hold.The U.S. dollar was steady on Wednesday but poised for its weakest monthly performance since November 2022 as erratic U.S. trade policies under President Donald Trump left the greenback vulnerable while boosting the euro, yen and Swiss franc.

周三，由于投资者等待关键的经济数据和主要企业盈利，美国股指期货下跌。市场关注的焦点是3月份个人消费支出价格指数（美联储首选的通胀指标）的发布，以及今天晚些时候公布的第一季度国内生产总值的首次估算。在收益方面，大型科技巨头Meta Platforms和微软计划在钟声敲响后公布财报，这引起了投资者的高度关注。在盘后交易中，SMCI在发布低于预期的第三财季初步业绩后暴跌超过15%。周二的常规交易日，股市持续走强，道琼斯指数上涨0.75%，标准普尔500指数上涨0.58%，均连续第六天上涨。纳斯达克综合指数上涨0.55%。在商务部长霍华德·卢特尼克表示白宫即将达成贸易协议后，市场情绪有所回升。唐纳德·特朗普总统后来表示，与印度的协议可能很快就会敲定。

US stock futures slipped on Wednesday as investors awaited crucial economic data and major corporate earnings. Market attention is focused on the release of the March PCE price index—the Federal Reserve’s preferred inflation gauge—alongside the first estimate of Q1 GDP, both due later today. On the earnings front, megacap tech giants Meta Platforms and Microsoft are scheduled to report after the bell, drawing heightened investor scrutiny. In extended trading, SMCI plunged more than 15% after issuing weaker-than-expected preliminary results for its fiscal third quarter. Tuesday’s regular session saw continued strength in equities, with the Dow rising 0.75% and the S&P 500 gaining 0.58%, both posting their sixth straight day of gains. The Nasdaq Composite added 0.55%. Market sentiment got a lift after Commerce Secretary Howard Lutnick indicated the White House was nearing a trade agreement. President Donald Trump later indicated a deal with India could be finalized soon.

提醒-高盛预计美元将进一步下跌。美国经济放缓进一步加剧了美元的困境，并且没有看到太多的相对改善，这表明美国经济不太可能跑赢大市。

Reminder - Goldman Sachs expects the US dollar has further to fall.The U.S. economic slowdown is further compounding the dollar's woes, and does not see much relative improvement saying that the its not likely that the US economy will outperform.