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The Mexican Peso erased some of its earlier gains, yet it remains poised to continue to gain ground against the US Dollar as investors keep the Greenback bid after US President Donald Trump’s comments that he could oust Federal Reserve (Fed) Chair Jerome Powell rattled the markets.

South Korea Producer Price Index Growth (MoM) remains unchanged at 0% in March

This is via Chief Economist at Moody’s Analytics, Mark Zandi:

• The Trump administration’s policies are set to severely diminish the economy, not only for the next few months but for years. The administration’s trade war is undermining the global safe-haven status of the U.S., which has provided incalculable benefits, including our economy’s exceptionalism.

Its part of a thread, in summary:

• Investors trust the U.S. due to stable laws and predictable governance.

• Trump’s erratic tariff policy undermines that stability and process.

• Political pressure on the Fed threatens its independence and risks inflation.

• Loss of credibility could push Treasury yields and lending rates higher.

• CDS spreads on U.S. debt show growing doubts about creditworthiness.

• The trade war has hurt U.S. credibility, but there’s still time to limit the fallout.

This article was written by Eamonn Sheridan at www.forexlive.com.

New Zealand March trade balance NZD 970mn surplus

• prior +392mn

Annual Trade Balance NZD -6.13bn

• prior -6.63bn

Exports in March 7.59bn NZD vs. prior 6.61bn

• imports 6.62bn vs. prior 6.22bn

NZD/USD not a lot moved, update:

This article was written by Eamonn Sheridan at www.forexlive.com.

The USD/CHF extended its losses for the third consecutive day as market mood shifted sour due to US President Donald Trump’s attacks on Fed Chair Jerome Powell, which investors saw as a threat to the independence of the US central bank. At the time of writing, the pair trades at 0.8080, down 0.06.