Forex Today: Mixed markets limit Dollar’s slide, attention turns to global PMIs – by MSalordFX DollarIndex Currencies
unexpectedly contracted in April. The Philly Fed dropped to -31.3 from 23.2 in March, against expectations of an increase to -19.2. Existing Home Sales dropped to 4.44 million against expectations of 4.5 million. March meeting showed that had it not been for the banking crisis, the central bank would have signaled determination to more tightening ahead. The ECB looks set to raise rates further in May, but the size remains open.approached 1.1000 and then pulled back to the 1.
The Kiwi was among the worst performers on Thursday hit by New Zealand inflation data. The Consumer Price Index grew by 6.7% in the first quarter, against expectations of 6.9%, the lowest since the fourth quarter 2021. At the last meeting, the Reserve Bank of New Zealand increased the OCR rate by 50 basis points, surprising on the hawkish side.bottomed at 0.6148, a one-month low, and then recovered toward 0.6200 boosted by a weaker US Dollar.
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