Australian inflation dropped at a slower pace than anticipated, wiping out any lingering indication of rate cuts this year. Improved risk sentiment supports AUD
With the Yen at multi-decade lows, and commentary out of Tokyo suggesting enough is nearly enough, this is not a market to look away from now.
Financial markets remain risk-on as positive sentiment continues to push prices higher.
The dollar slipped in early US turnover as the latest S&P PMIs miss forecasts and last month’s numbers. Growth and inflation data and US Treasury auctions now on the horizon.
EUR/USD received a much needed reprieve from USD dominance after flash PMI data for April highlighted potential concerns for the US. EUR/GBP surrenders recent gains