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Market Update 28/05/2024

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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AUD/USD gained ground on Monday after US public holiday for Memorial Day left the Greenback on the back foot,  extending Friday’s recovery into a second day for the Aussie Dollar. AUD traders will be looking ahead to Tuesday’s Australian retail sales, while US Personal Consumption Expenditure (PCE) inflation data looms ahead later in the week.

Australian MoM Retail Sales are expected at 0.3% after the previous month’s 0.4% decline. Looking further ahead to, Australian CPI inflation in April is expected to grow at 3.4% YoY compared to the previous month’s annualized 3.5%.

On the US front Fed officials are expected to resume dominating headlines this week after US markets return to action after Memorial day.

Economic data to watch out for.

• AU – Apr. Retails Sales m/m
• CN – May. Bloomberg Economic Survey
• US – Fed’s Mester Speaks
• EU – ECB 1yr, 3yr CPI Expectations
• CA – Apr. Industrial Product Price m/m
• CA – Apr. Raw Materials Price Index m/m
• US – Mar. FHFA House Price Index m/m
• US – Fed’s Kashkari Speaks
• US – May. Conf. Board Consumer Confidence
• UK – BOE’s Haskel speaks

Mid market rates.

Currency PairMid-market rate


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