Fed Williams News Today

Later today, the focus for global trading is on the EMU and US inflation data series. EMU headline inflation is expected to slow from 0.6% M/M to 0.2% M/M. However, due to unfavourable base effects, the Y/Y measure likely reaccelerated to 2.5% from 2.4%. Core inflation is expected unchanged at 2.7%. In the US, the report on the April personal income and spending also contains the (core) PCE deflators.

President of New York Federal Reserve (Fed) John Williams noted on Wednesday that the Fed is likely to begin cutting interest rates in 2024, albeit in the latter half of the year.

The US Dollar (USD) observed modest losses on Wednesday, trailing at 102.4 in the US Dollar Index, as market participants stick to the sidelines awaiting drivers.

This week, the market will be looking at major economic data such as F&O expiry, India's external debt, US GDP data, and current account balance that are expected to come out.

NZD/USD recovers some ground and hits a new weekly high of 0.6290 amidst an upbeat market sentiment sponsored by improvement in US debt ceiling talks

Silver price continues to extend its recovery during the week, climbing above the $21.00 figure for the first time since June 2022, spurred by a soft

US Dollar to Remain on the Front Foot, USD/JPY Risk/Reward Poor at 125.00