| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 02:00 | New Zealand | RBNZ Interest Rate Decision | | 5.25% | 5.5% | 5.5% |
| 03:00 | New Zealand | RBNZ Press Conference | | | | |
| 06:00 | United Kingdom | Producer Price Index - Output (YoY) | April | 8.5% | | 5.4% |
| 06:00 | United Kingdom | Producer Price Index - Input (YoY) | April | 7.3% | 5.4% | 3.9% |
| 06:00 | United Kingdom | Producer Price Index - Input (MoM) | April | 0.2% | 0.2% | -0.3% |
| 06:00 | United Kingdom | Producer Price Index - Output (MoM) | April | 0% | | 0% |
| 06:00 | United Kingdom | Retail Price Index, m/m | April | 0.7% | 1.2% | 1.5% |
| 06:00 | United Kingdom | HICP ex EFAT, Y/Y | April | 6.2% | | 6.8% |
| 06:00 | United Kingdom | Retail prices, Y/Y | April | 13.5% | 11.1% | 11.4% |
| 06:00 | United Kingdom | HICP, Y/Y | April | 10.1% | 8.2% | 8.7% |
| 06:00 | United Kingdom | HICP, m/m | April | 0.8% | 0.8% | 1.2% |
During today's Asian trading, the US dollar stabilized against major currencies, while the deadlock with the debt ceiling and the Fed's monetary policy outlook remained in the focus of investors.
The US Dollar Currency Index (DXY), which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona) fell by 0.03% to 103.46.
Representatives of the U.S. President and congressional Republicans ended another round of debt-ceiling talks without a resolution on Tuesday as the deadline to raise the government's borrowing limit ticked closer.
Investors are also cautiously awaiting the minutes of the Fed's May meeting, which will be published today. According to the CME FedWatch Tool, markets now see a 30.5% chance that Fed rates will be raised by 25 basis points in June, compared with 25.7% yesterday.
The New Zealand dollar fell 1.6% against the US dollar after the Central Bank of New Zealand showed a dovish mood and signaled the end of the cycle of tightening monetary policy. The Reserve Bank of New Zealand has raised rates by 0.25%, to 5.5%. The RBNZ expects the rate to peak at 5.5% before the latest rate cuts begin in the third quarter of next year. Market bets were split between hiking by 25 bps or 50 prior to the decision, with many wagering that rates can hit as high as 6%.
The Chinese yuan has fallen to near six-month lows against the dollar amid new signs of tension in Sino-American relations. The yuan was also pressured by strong demand for dollars, while traders did not notice any steps from state-owned banks to slow down the rate of currency depreciation.