- Canadian Dollar keeps heading south and is on track to a 1.25% sell-off this week, its worst weekly performance since May 2023.
- US Michigan Consumer Sentiment Index declined to 77.9 in April from 79.4 in March. The market had anticipated a 79.0 reading.
- University of Michigan Consumer 5-year Inflation Expectations have ticked up to 3% from 2.8% in April.
- US 10-year yields have pulled back from highs, although they remain above the key 4.5% level, their highest levels since last November.
- Investors have trimmed their Fed easing expectations to 60 basis points in 2024 from the 150 basis points foreseen in January. The first rate cut is expected only in September. This is acting as a tailwind for the US Dollar.
- Later today Fed’s Schmid, Bostic, and Daly, all in the hawkish side of the committee are meeting the press. They might provide further support for the USD.
Dieditkan 14 Apr 2024, 14:14
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