• Waves of US Dollar selling continued at the start of the week with demand for risk products following last week’s Non-Farm Payroll release.
• ECB’s Lagarde says she is determined to bring down inflation to 2.0% and suggests this will happen in 2025.
• Ex vice Fed chair Brainard is forecasting to take US recession calls off the table after last week’s “sustainable” jobs data.
• Markets are pricing in a Bank of Canada rate cut as early as next April with end of 2024 inflation expectations at 2.2%
• The conflict in Gaza death toll has exceeded 10,000 with more than 4,000 of these children. Jordan says it is leaving options open after Israel’s failure to separate between civilians and military targets.
• The New Zealand Dollar (NZD) has been the strongest currency this month while the US Dollar (USD) has been the worst performer.