Forex Today: Focus shifts to BoE, USD stabilizes after inflation data – by eren_fxstreet Majors Currencies Macroeconomics CentralBanks Commodities
Following the slide seen with the initial reaction to April inflation data on Wednesday, the US Dollar Index stages a rebound early Thursday. The Bank of England will announce monetary policy decisions later in the day and Governor Andrew Bailey will comment on the policy outlook and respond to questions from the press. April Producer Price Index will be featured in the US economic docket.
During the Asian trading hours on Thursday, monthly CPI in China decreased 0.1% in April, brining the rate of annual change down to 0.1% from 0.7% in March. Meanwhile, the data from Australia revealed that the Consumer Inflation Expectations climbed to 5% in May from 4.6% in April, matching the market expectation.The BoE is widely expected to raise its policy rate by 25 basis points to 4.5% following the May policy meeting.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBP/USD Forex Signal: Clears Key Resistance Ahead of BoE DecThe GBP/USD exchange rate jumped to the highest point since May 31st as the focus shifted to the upcoming US inflation data and the Bank of England.
Read more »
Forex Today: Markets remain choppy as investors await next catalystForex Today: Markets remain choppy as investors await next catalyst – by eren_fxstreet Majors Currencies Macroeconomics Commodities CryptoCurrencies
Read more »
Forex Today: Minor Risk-On RallyStock Markets Mixed to Bullish; Gold Rising Again; BoJ\u2019s Ueda Optimistic on Inflation
Read more »
Forex Today: Dollar rises timidly ahead of US CPIThe Asian session will have a light economic calendar, with the highlight being the Australian Westpac Consumer Confidence for May, which is expected
Read more »
Forex Today: US Dollar consolidates gains, eyes on US April inflation dataForex Today: US Dollar consolidates gains, eyes on US April inflation data – by eren_fxstreet Majors Currencies Macroeconomics Commodities CryptoCurrencies
Read more »
Forex Today: US Dollar weakens, not collapses, after US CPIOn Thursday, the Bank of Japan will release their summary of opinion from Ueda's first meeting. New Zealand will release the Food Price Index for Apri
Read more »