Forex Today: Another hawkish surprise shows inflation remains central bank’s main concern – by MSalordFX DollarIndex Currencies USDCAD YieldCurve
ents come ahead of a crucial week with meetings from the Federal Reserve and the European Central Bank. In terms of data for Thursday's Asian session, the highlights will be Japan's Q1 GDP. New Zealand will report Q1 Manufacturing Sales and Australia, trade data. Later in the day, the Eurozone's GDP and employment figures will be released, along with the weekly US Jobless Claims report.outperformed on Wednesday following the Bank of Canada's surprise rate hike.
During Wednesday's American session, US Treasury yields surged as market participants pared back their bets for rate cuts by the Fed by the end of the year. However, the most likely scenario for next week's Fed meeting is that rates will remain unchanged. The 10-year Treasury yield settled at 3.79%, the highest since May 29. Global government bond yields rose in response to another surprise rate hike, while equity prices on Wall Street posted mixed results. The VIX dropped to 13.
With the debt ceiling drama now resolved, the Wall Street Journal is warning of a potential flood of over $1 trillion in Treasury bills that could triggeracross financial markets in the weeks ahead. Investors will be closely watching for any signs of disruption as this massive amount of new issuance hits the market.
China reported weak trade data on Wednesday, with exports dropping 7.5% YoY in May against expectations of a 1.8% decline. This marks the first contraction in three months. Meanwhile, imports dropped 4.5% YoY, less than the 8.0% decline expected by the market consensus. These disappointing numbers add pressure on Chinese officials to provide more policy support, including rate cuts. The USD/CNH climbed to 7.15, the strongest level since November.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Forex Today: US Dollar hit by US data, RBA decision loomsThe most significant event during the Asian session will be the Reserve Bank of Australia's meeting, where there may be an announcement of another int
Read more »
Forex Today: Aussie rallies on unexpected RBA hike, US Dollar edges lowerForex Today: Aussie rallies on unexpected RBA hike, US Dollar edges lower – by eren_fxstreet Majors Currencies Macroeconomics Commodities CryptoCurrencies
Read more »
Forex Today: RBA Makes Surprise Rate Hike to 4.1%Today's Forex news: Aussie Jumps After Shock Rate Rise; Global Stock Markets Bullish, Especially Asia; US Dollar Selling Off
Read more »
Forex Today: Focus remains on the Aussie ahead of data, after RBA hikeAfter Tuesday's 25 basis points rate hike, Australia will report Q1 GDP. RBA Governor Lowe will deliver a speech. Chinese trade data is due, and in J
Read more »
Forex Today: Markets remain choppy as focus shifts to BoC rate decisionHere is what you need to know on Wednesday, June 7: Major currency pairs continue to trade in familiar ranges mid-week as investors remain in search o
Read more »
Watchdog group accuses Bank of America CEO of using bank as ‘political club’ against AmericansA conservative non-profit group has launched an ad campaign targeting Bank of America for allegedly imposing an 'ideologically-driven agenda on the American people.'
Read more »