(28 April 2020)DAILY MARKET BRIEF 2:On the data side

<p>In the currencies market, the US dollar index strengthened a touch above the 100 mark on the back of fading global risk appetite.</p>
<p>The two-day Federal Reserve (Fed) meeting starts today. The Fed is expected to stay pat at this month’s meeting, as it has already slashed interest rates to zero to give the necessary support to its coronavirus-hit economy, and done all it could to maintain a smooth liquidity in the short-term money markets.</p>
<p>On the data side, investors will be watching the US consumer confidence index which is expected to have smashed to 90 from 120 printed a month earlier, the goods trade balance and retail, wholesale inventories in March, and finally the Richmond manufacturing index in April. Soft economic data could spur the dovish Fed expectations – but will not shot down the US dollar, as there is little the Fed would do at this week’s meeting other than reiterating that they are ready to do more, if needed. What investors really want to see is the first quarter GDP fig</p>