FX News

FX Update: Markets look towards US CPI for moves

Market Overview

• Currency markets into Tuesday have been subdued as we await US inflation data.
• Canadian unemployment dipped from 6.2% to 6.1% in April.
• Chinese inflation year on year rose from 0.1% in April to 0.3% higher than the 0.2% predicted.
• New Zealand 1 year inflation expectations dipped from 3.22% to 2.73% with the unemployment rate to rise to 4.9%. Currently this is 4.3%.
• US inflation expectations for 1 year has risen to 3.3% from 3.0%.
• UK Prime Minister Sunak reconfirms that the election will be some time late this year- the consensus is for October.
• The British Pound (GBP) is the strongest currency this week while the weakest currency has been the Japanese Yen (JPY) again.

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