• The US Dollar trades overall in the red against most major peers. 
• A massive data dump is expected at 12:30 GMT with US GDP, Durable Goods, and weekly Jobless Claims. 
• The US Dollar index hovers around 106.00, clinging onto Wednesday’s gains.

The US Dollar (USD) trades a touch softer on Thursday following Wednesday’s significant increase and as the Japanese Yen (JPY) seems to be recovering slightly from the recent losses. Japanese Finance Minister Shunichi Suzuki said that the government is watching closely the forex market and is standing ready to act when needed, prompting the Yen to rise from its fresh multi-decade low and gaining intraday against the US Dollar. The question is how long the impact of these words will last as the recovery is starting to lose momentum already in the European trading session. 

On the US economic calendar front, all important data points will be released at 14:30 GMT:  the US Gross Domestic Product final reading for Q1, US Durable Goods and weekly Jobless Claims. Expect thus to see a surge in volatility, particularly if the data does not support a stronger Greenback.