NZD/USD extends its rally to three straight days, hovers around 0.6350s post-Fed Powell Q&A By christianborjon NZDUSD Majors Macroeconomics Sentiment
k-sensitive currencies, like the New Zealand dollar. At 0.6355, the NZD/USD reflects an improved market sentiment, courtesy of no new Covid-19 cases in Shanghai for the third straight day as the city prepares to lift restrictions.remain in positive territory as Wall Street prepares for the close. Meanwhile, US Treasury yields recovered some ground, led by the 10-year benchmark note, up to eight and a half basis points, sitting at 2.
Recapping the last Federal Reserve meeting, the US central bank hiked rates by 50-bps. Later in the press conference, Jerome Powell said that 50-bps increases are “on the table,” as market players have priced in a 100% odds of a 0.50% rate hike in the June meeting. Also, earlier in the day, St. Louis Fed President James Bullard said that the continued strong growth trend for the US economy is the base case outlook for the next 18 months and added that household consumption is expected to hold up well through this year. He emphasized that the base case scenario for the Fed is 50-bps rate hikes at upcoming Fed meetings.
Furthermore, Minnesota Fed President Neik Kashkari said that the Fed has indicated it will get rates to at least neutral by the end of 2022. He added that the Fed needs to bring inflation down to its 2% target before a wage-price spiral takes off. Earlier in the North American session, the US docket featured April’s US Retail Sales met expectations and rose by 0.9% m/m. Regarding the year-over-year reading, sales grew 8.2%, crushing the expectations of 4.2%, demonstrating the resilience of American consumers. Following the positive tone of
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
NZD/USD Price Analysis: Bears move in at critical daily resistanceNZD/USD is under pressure from daily resistance at this juncture for the open but the weekly chart is overstretched, relatively and corrections to the
Les mer »
GBP/USD sees upside above 1.2250 as risk-on impulse rebounds, UK Employment in focusThe GBP/USD pair is hovering around 1.2250 at open and is likely to elevate further amid a rebound in the risk-sensitive assets experienced on Friday,
Les mer »
USD/JPY skid below 129.00 on subdued DXY, focus shifts to Fed’s Powell and Japan’s CPIThe USD/JPY pair has displayed a more than 50-pips slippage in the Asian session amid subdued performance from the US dollar index (DXY). The light ec
Les mer »
USD/JPY crosses 129.00 as yields recover ahead of US Retail Sales, Fed’s PowellUSD/JPY refreshes intraday high to 129.25 as upbeat sentiment joins firmer Treasury yields to please buyers after a lackluster start to the week. That
Les mer »
Gold Price Forecast: XAU/USD bulls suffer around the 200-DMA and throw the towel as gold slips to $1820sGold Price Forecast: XAU/USD bulls suffer around the 200-DMA and throw the towel as gold slips to $1820s By christianborjon Gold XAUUSD Commodities Metals Macroeconomics
Les mer »
USD/JPY Price Analysis: Climbs to three-day high, eyes descending trend-line resistanceUSD/JPY Price Analysis: Climbs to three-day high, eyes descending trend-line resistance By HareshMenghani USDJPY RiskAppetite Bonds RetailSales Currencies
Les mer »