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Key Takeaways:
- 💡 Global markets affected by uncertainty about the direction of inflation
- 📈 Eurozone PMIs indicate a tentative recovery, especially in the service sector
- 🌍 Emerging markets continue to face challenges amidst rising commodity prices and appreciation of the U.S. dollar
- 🤝 Investors remain cautious as they assess the impact of central bank policies on market stability
- 💹 USD remained flat while AUD outperformed with industrial metals stronger
- 🏗️ China implemented measures to support property market, positive for AUD
- 📆 US Fed speakers in focus, CPI data from Canada & UK, RBNZ meeting
- 📈 Industrial metal prices rose, helping AUD reach ~$0.67
- 💱 USD index flat, US bond yields drifted higher
- 📊 US economic data weaker than forecast, signs of improvement in Eurozone PMIs
- 🌍 Global event radar includes various economic releases
- 🔄 AUD remains near multi-month highs, outperforming on crosses
- 💼 RBA meeting minutes likely not impactful, ongoing macro trends supportive of AUD
- 🔔 RBA on different monetary policy path compared to global counterparts
- 🏦 RBNZ meeting may open door to easing, impacting AUD/NZD
- 🍂 USD easing may continue, global events and indicators to influence SGD/USD
- 💶 EUR/USD pair has advanced for a fourth consecutive week
- 📈 Euro’s rally is a sign of broad US Dollar weakness
- 📉 US CPI declined in April, putting pressure on the Fed to maintain interest rates
- 💵 US Retail Sales remained unchanged in April
- 🌍 Eurozone GDP growth was confirmed at 0.3% QoQ
- 🔍 FOMC meeting Minutes may provide insights on future monetary policy decisions
- 📆 Upcoming macroeconomic calendar includes European PMIs and US PMIs
- 📊 EUR/USD pair is technically neutral on the weekly chart
- 🔒 Resistance for the pair is seen at 1.0890 and 1.0980-1.1000, support at 1.0800 and 1.0740
Global Market Uncertainty and Recovery:
- 💡 Global markets affected by uncertainty about the direction of inflation
- 📈 Eurozone PMIs indicate a tentative recovery, especially in the service sector
- 🌍 Emerging markets continue to face challenges amidst rising commodity prices and appreciation of the U.S. dollar
Investor Caution and Currency Performance:
- 🤝 Investors remain cautious as they assess the impact of central bank policies on market stability
- 💹 USD remained flat while AUD outperformed with industrial metals stronger
- 🏗️ China implemented measures to support property market, positive for AUD
Market Events and Indicators:
- 📆 US Fed speakers in focus, CPI data from Canada & UK, RBNZ meeting
- 📈 Industrial metal prices rose, helping AUD reach ~$0.67
- 💱 USD index flat, US bond yields drifted higher
Monetary Policy and Currency Trends:
- 💼 RBA meeting minutes likely not impactful, ongoing macro trends supportive of AUD
- 🔔 RBA on different monetary policy path compared to global counterparts
- 🏦 RBNZ meeting may open door to easing, impacting AUD/NZD
US Economic Data and Eurozone Recovery:
- 🍂 USD easing may continue, global events and indicators to influence SGD/USD
- 💶 EUR/USD pair has advanced for a fourth consecutive week
- 📈 Euro’s rally is a sign of broad US Dollar weakness