shadfish| Bonda Asia: Economic data performed well, Euro closed slightly higher

On Friday, May 20th, Federal Reserve Governor Bowman, who has the right to vote on the Fed's FOMC, released his eagle again. Bowman said she would be cautious when considering future changes in policy positions.ShadfishThe United States made remarkable progress in reducing inflation last year, but this yearShadfishWe have not seen further progress. While the current monetary policy stance appears to be restrictive, I would still be willing to raise the target range of the federal funds rate at a later meeting if future data show that US inflation has stalled or reversed. In his latest speech, Bowman did not mention more data released this week, especially the US CPI in April. Compared with a week ago, the latest data showed that the US CPI data for April gave signs of cooling inflation, but she seemed unmoved by it. However, Bowman expects inflation to cool further as Fed policy rates remain high. She also mentioned that the process of rebalancing the US labor market has slowed.

In addition, economist Schnabel, a member of the ECB's executive committee, said in a recent interview that according to new data and forecasts, a rate cut in June may be appropriate, but the trend after June is more uncertain. Recent data confirm that the last kilometer of deflation is the most difficult. Schnabel, a member of the board of directors of the European Central Bank, warned against successive interest rate cuts amid lingering inflation risks. The ECB is preparing for its June meeting and is expected to cut interest rates. While the June rate cut may depend on upcoming data and forecasts, things are less certain, Schnabel said in an interview. "the path after June is more uncertain," Schnabel said. Recent data confirm that the last mile of anti-inflation is the most difficult. " She added that the July rate cut seemed unreasonable.

The data to watch today are the monthly rate of tertiary industry activity in Japan in March, the annual rate of PPI in Germany in April and the difference in retail sales of CBI in May in the UK.

Dollar index

Last Friday, the dollar index fluctuated and consolidated, and the daily line closed flat. Now the exchange rate is trading at 104.ShadfishAround .50. The hawkish comments made by Fed officials during the period of time have made the expected cooling of the Fed's interest rate cut continue to provide some support to the exchange rate. However, the weak retail sales data in the United States recently also put some pressure on the exchange rate. The daily line closed flat after the shock consolidation of the dollar index. Focus on 105 TodayShadfishThe pressure near .00 is supported around 104.00 below.

EUR / USD

The euro was shaken and consolidated last Friday, and the daily line closed slightly higher, and the exchange rate is now trading around 1.0870. In addition to the short covering to the exchange rate constitutes a certain support, the euro zone's good performance of CPI data also constitute a certain support to the exchange rate. However, the cooling expectations of the Fed and the European Central Bank's expectations of a rate cut in June limit the room for a rebound in the exchange rate. Today, we will focus on the pressure situation near 1.0950, with the lower support around 1.0800.

Sterling / dollar

The pound fluctuated upward on Friday, closed slightly higher on the daily line, and is now trading around 1.2707. In addition to short covering to a certain extent to support the exchange rate, the recent economic data released by the UK show that the British economy has come out of recession and continues to provide a certain support to the exchange rate. However, the Fed's expectation of a rate cut in June has limited the room for exchange rate gains. Today, we will focus on the pressure situation near 1.2800, with the lower support around 1.2600.

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