ETO MARKETS：美元周二回落 通胀数据低于预期与贸易缓和的影响？

Core Points - The US dollar declined on Tuesday, reversing some of the previous day's gains due to inflation data falling below market expectations [1][6] - The Consumer Price Index (CPI) rose by 0.2% last month, lower than the expected 0.3%, with March CPI showing a decrease of 0.1% [3][6] - Despite lower inflation data, tariffs have increased the cost of imported goods, suggesting potential inflation rise in the coming months [1][3] Dollar Index Performance - The dollar index fell by 0.67% to 101.05, reflecting market reactions to the inflation data and expectations regarding Federal Reserve policy adjustments [3][5] - The decline in the dollar index indicates a short-term adjustment in the market's perception of the dollar's strength [5] Currency Movements - The euro appreciated by 0.81% against the dollar, reaching 1.1177, partly due to the dollar's decline and optimistic market sentiment regarding the European economy [4] - The British pound rose by 0.95% to 1.3297, marking the largest single-day increase since April 28, driven by the dollar's retreat and positive outlook on the UK economy [7] Trade Tensions and Economic Outlook - Easing trade tensions have led to reduced recession forecasts among major banks, including Goldman Sachs, JPMorgan, and Barclays, impacting expectations for Federal Reserve rate cuts [5][6] - The market now anticipates that the Federal Reserve may delay rate cuts until September, with a projected reduction of at least 25 basis points [6]