FX News

FX update: all eyes on US inflation

Market Overview

• Super Bowl hangover day makes for a quiet day of economic releases.
• The European Union is proposing trade restrictions on some Chinese companies for aiding the Russian/Ukraine war.
• Marion Kohler of the RBA has spoken saying, it will take some time for inflation to return to the 2-3% target range, expected to get there in 2025.
• Fed’s Bowman is saying it’s too early to predict when the Fed will cut rates and by how much.
• Canadian Unemployment rate 5.7% in January down from 5.8% and forecast of 5.9%.
• Chinese CPI y/y prints at -0.8% in January after -0.3% in December.
• Australian consumer confidence is down according to the latest survey as the RBA considers rate moves.
• The New Zealand Dollar (NZD) has been the strongest currency in the past week while the weakest currency has been the Japanese Yen (JPY).

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