What's moving markets today: Live updates - CNN

The US dollar is still near its highest level of the year, but analysts worry that it could break lower.

Last week, the ICE US Dollar Index touched its highest point since May 2017, according to Refinitiv. Today it's in the red.

The dollar "has been driven by the US economic and monetary divergence," said Marc Chandler, chief market strategist at Bannockburn Global Forex. 

"However, the greenback's inability to make much headway on the back of the GDP surprise warns that the divergence meme has gone as far as it can in the near-term, and this means that dollar is likely entering a consolidative phase."

On Friday, the US reported 3.2% in economic growth between January and March -- far more than expected.

The next big event for the greenback is this week's Federal Reserve meeting, which kicks off tomorrow and culminates in the monetary policy update on Wednesday. Depending on how dovish Fed Chairman Jerome Powell sounds, it could spark a sell-off for the dollar.

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https://www.cnn.com/business/live-news/stock-market-news-today-032919/index.html

2019-04-29 20:52:00Z
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