The US Dollar trades flat ahead of a quiet US economic calendar.
Markets seem to turn risk-off ahead of Nvidia earnings, benefiting the Dollar and weighing on Chinese tech stocks and cryptocurrencies.
The US Dollar Index edges up slightly, trading just below 101.00 for a second day in a row.
The US Dollar (USD) trades mixed again on Wednesday, with markets getting a bit nervous ahead of Nvidia Corp. (NVDA) earnings to be released after the US closing bell. Seeing the recent slowdown in some economic numbers and with the boom around Artificial Intelligence (AI) having eased a touch, traders wonder if Nvidia can keep up its pace of growth and its streak of beating earnings. A miss on estimates could spark some sharper risk-off moves, a scenario that would put the US Dollar back in the graces of traders with safe-haven flows unfolding.
On the US economic calendar front, nearly no data points for markets to digest on Wednesday. This adds to more tension and expectations for the Nvidia earnings. Even Federal Reserve officials aren’t expected to make an early appearance, with only Federal Reserve Bank of Atlanta President Raphael Bostic set to speak at 22:00 GMT.
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