FX News

FX Update: Aussie inflation the standout

Market Overview

  • Australian inflation expected to leap higher to 3.8% from 3.6% a 5-month high.
  • Fed member Daly said despite recent relief to inflation the Fed will have no choice but to keep interest rates higher for longer if price cooling doesn’t return to their 2.0% target.
  • The NZD could drift lower over the week to 0.6080 support.
  • New Zealand May Imports NZD 6.95B Exports NZD 7.1B
  • Incoming US data suggests the economy is predicted to slow in the middle months of 2024 with consumers more pessimistic amid elevated interest rates.
  • Manufacturing data out of France and Germany published down on expectations as new orders fall short.
  • As the month of June draws to a close the US Dollar (USD) has outperformed all main board currencies. A close second is the Australian Dollar, while the Japanese Yen (JPY) has been the weakest traded currency over June.
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