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Market Update 15/05/2024

Welcome to our daily market update, where we help keep you informed on the latest happenings in the world of FX.
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The AUD registered gains against the USD on Tuesday, even though inflation in the US edged, spurring hawkish remarks by Fed Chair Jerome Powell. The AUD/USD trades at 0.6624

FED Chair Jerome Powell comments after releasing the PPI said that, although he anticipates inflation to continue declining, he is less confident about the disinflation outlook than he was previously. Powell also mentioned that the GDP is expected to grow by 2%, a positive forecast to the strength of the labor market.

on the US front Bureau of Labor Statistics revealed the PPI rose by 0.5% MoM in April, above the 0.3% consensus and March’s -0.1% contraction. Core PPI also jumped by 0.5% MoM, above projections of 0.2%.

locally, the Aussie’s economic calendar will feature the release of the latest Wage Price Index which is expected to remain  at 0.9% QoQ and 4.2% YoY.

Economic data to watch out for.

• CN – May-15. 1-Yr Medium-Term Lending Facilities Volume
• CN – May-15. 1-Yr Medium-Term Lending Facility Rate
• AU – Q1. Wage Price Index q/q
• EU – ECB’s Villeroy speaks
• EU – Q1. Employment q/q and EU – Q1. GDP SA q/q
• EU – Mar. Industrial Production SA m/m
• US – Apr. CPI m/m
• US – Apr. Retails Sales Advance m/m
• US – Fed’s Kashkari Speaks in

Mid market rates.

Currency PairMid-market rate


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