Notizie economiche
27.05.2022

European session review: USD depreciates amid lowered Fed rate hike bets

TimeCountryEventPeriodPrevious valueForecastActual
08:00EurozonePrivate Loans, Y/YApril4.5% 4.5%
08:00EurozoneM3 money supply, adjusted y/yApril6.3%6.3%6%


USD slipped against most of its major rivals in the European session on Friday, as investors lowered their bets on the Federal Reserve's interest rate hikes.

The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, slipped 0.02% to 101.81.

The minutes from the latest meeting of the Fed, which was published on Wednesday, raised believes that the autumn pause in rate increases could be expected.

Market participants also awaited the release of the April personal income and spending report later in the day, which will provide data on the core PCE price index, the Fed's preferred inflation gauge.

The indicator is anticipated to ease modestly - to 4.9% y/y -  from its multi-decade highs. A weaker reading could add to bets that the U.S. central bank may pause rate raises in the fall, following 50 basis point hikes that are largely priced in for its June and July policy meetings, and confirm suggestions that the U.S. inflation has peaked.

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