Since sentiment is bad for the dollar I'm not sure if the dollar can rally on good data.
If the amount of capital flows into U.S. securities misses the market forecast for the second straight month, that could lead to further declines in the dollar given the current (market) conditions.
U.S. payroll numbers are unlikely to give the dollar upward momentum, even if the numbers are good. Market sentiment toward the U.S. economy is worsening, buffeted by recent weaker data.
Thinking about the market's dollar bullishness, even bad figures could push up the dollar. The dollar is likely to react to the numbers only on the upside.
It's natural to think the dollar has just entered a short-term downward correction. It could be just a temporary pause before the dollar heads higher again.
Investors are fixated by the upcoming Fed statement. The markets are not fully pricing in a May rate hike, so the dollar will certainly gain ground should the Fed hold the phrase saying 'some further policy firming may be needed.
The dollar will get support from strong economic data, such as the jobs report. The trend of dollar buying will continue for another week.
If GDP is stronger than expected, we will see more dollar appreciation.