peterpoker| Bonda Asia:CPI performance is weak, US dollar and Canadian dollar close up slightly

May 22ndPeterpokerThe RBA resumed discussion of raising interest rates at its policy meeting in May.PeterpokerBut then decided to keep interest rates unchanged for all the more reason, because of its commitment to avoid "excessive fine-tuning" of policy. The minutes of the RBA meeting from May 6 to 7 show that the board of directors is keeping the key interest rate at 4.Peterpoker.35% discussed two options and pointed out that although the pre-meeting data were stronger than expected, the risks of its economic forecasts were still "balanced". Belinda Allen, an economist at the Commonwealth Bank of Australia, said the board "seems to be focused on examining 'short-term changes in inflation to avoid excessive fine-tuning'. As a result, the obstacle to raising interest rates again seems high. Instead, the risk is that the easing cycle starts later than our basic forecast in November. The minutes reinforce the widely held view that interest rates will remain high for a longer time. Swap traders now believe that the RBA will leave interest rates unchanged until mid-2025. The RBA also raised its short-term inflation forecast, and consumer prices are expected to rise from 3% in the first three months of this year.Peterpoker.6% returned to the 2-3% target at the end of 2025. The updated outlook uses a technical assumption that interest rates will not change until mid-2025.

Separately, two Fed officials reiterated that interest rates will remain high for longer, stressing the need to be patient as the Fed waits for more evidence that inflation is falling. Cleveland Fed President Loretta Mester said at a symposium hosted by Atlanta Fed Chairman Raphael Bostic on Tuesday that she would like to see "months of inflation data seem to be falling" before cutting interest rates. Susan Collins, chairman of the Boston Fed, also attended the Atlanta Fed financial markets meeting. She said she would like to see more evidence that price pressures are moving towards the Fed's 2 per cent target. "I think this is a moment of patience. I think the data are very complex, "Collins said. "it will take longer than I thought." Collins does not have a vote on monetary policy this year. She added that current policies could be a further drag on the economy in the future.

The data that need to be watched today are the UK's April CPI annual rate, the UK April retail price index annual rate, the UK April non-quarterly PPI annual rate and the total annualized sales of existing homes in the United States in April.

Gold / US dollar

Gold swayed and consolidated yesterday, closing slightly lower on the daily line, and is now trading around 2416. In addition to profit-taking, which has exerted some pressure on gold, the rise of the dollar index, supported by successive hawkish comments by Fed officials to further cool the Fed's interest rate cut expectations, is also an important factor in pressing gold to fall back. However, risk aversion sparked by geopolitical tensions limits gold's room for a pullback. Today, we will focus on the pressure situation near 2430, with the lower support around 2400.

AUD / USD

The Australian dollar fluctuated downwards yesterday, closed slightly lower on the daily line, and is now trading around 0.6670. The rise in the dollar index, supported by hawkish comments from Fed officials and rising risk aversion in the market, is the main reason for the weakness of the Australian dollar. However, the minutes released by the RBA during the session are skewed towards hawks, limiting the scope for the exchange rate to fall. Today, we will focus on the pressure situation near 0.6750, and issue support around 0.6550.

Us dollar / Canadian dollar

The US dollar / Canadian dollar fluctuated upwards yesterday, closed slightly higher on the daily line, and is now trading around 1.3640. In addition to the technical buying formed around 1.3600, which constitutes a certain support to the exchange rate, the rise of the dollar index under the support of multiple positive factors is also an important factor to support the exchange rate closing up. In addition, the weak economic data of Canada during the period of time also provided some support to the exchange rate. Today, we will focus on the pressure situation near 1.3750, with the lower support around 1.3550.

Tags:

Prev: onlinegamesgcash| ST Jin Hong: Zhang Peixian resigns as director
Next: Tiger'sRichesRoar| U.S. stocks opened: The three major indexes were basically flat, with China New Energy stocks rising, Daquan New Energy rose more than 6%, and Jinko Energy rose more than 4%.