Key Points:
New Zealand Dollar outperforms into Friday.
The US Federal Reserve lifted their interest rate Thursday from 5.0% to 5.25%, the Fed close to announcing a pause of their tightening policy.
US Stock Indices clock 3 day losing streak.
Bank of Canada’s Macklem: If we see inflation signs stuck above 2% they could hike again.
Chinese Caixin Manufacturing fell from 50.0 to 49.5 in April as selling cost pressures the worst in 7 years.
US Regional Banks are in the spotlight again following news PacWest Bancorp shares are down 46% overnight as the company considers “strategic alternatives”.
UK Mortgage Approvals rose in March representing the lowest level of net borrowings since June 2011
The ECB raises interest rates from 3.5% to 3.75%. Lagarde suggests the inflation outlook continues to be high and too long.
The New Zealand Dollar (NZD) has been the best performer this week while the US Dollar (USD) has been the weakest currency