April, like the whole second quarter in recent years was not the best time for the US currency. Usually at this time, economic indicators in the US are slowing, reducing investor interest in the dollar. This year the situation may be similar.
The Federal Reserve is expected to raise interest rates no earlier than June, but the probability of this event is still under big question. Therefore, the movement of the US dollar will depend on the incoming statistics. If indicators show growth of economic in the United States, members of the Federal Reserve will be able to continue talking about the necessity to continue the process of normalizing monetary policy. In this case, the US dollar will attract buyers, but April can start is not entirely successful for greenback.
Today, data from ADP is expected to be weaker than previous values, NFP on Friday is also expected to show more modest results. Decline of the labor market in the US with almost full employment is unlikely to put significant pressure on the US currency, but will not give reasons for growth.
In addition, today will be published the minutes of the last meeting of the Open Market Committee. Confirmation that the Fed is not going to rush to raise interest rates, will be restrain the further growth of the US dollar too.