US PMI April Preview: Dollar’s safe-haven lure will not be affected

Manufacturing and Services PMI forecast to drop deep into contraction in April while the US dollar is unlikely to be affected by sharp decline in business sentiment, according to FXStreet’s analyst Joseph Trevisani.

Key quotes

“Markit’s purchasing managers indexes (PMI) are predicted to drop to 37 for manufacturing and 32.5 for services in April.”  

“Two things are certain.  First is that April’s statistics will not be the bottom of the abyss. Second is that until that bottom is in sight, the dollar’s safe-haven lure will not dissipate.”