Last Friday, USD strengthened against most major currencies except GBP, AUD and CAD.
During a webinar last Thursday, Federal Reserve Chairman Jerome Powell expressed dovishness in the U.S. job market. Although unemployment rate has declined back to around 6%, Powell highlighted that the true unemployment rate is closer to 10% if there were no misclassification errors that understated the deterioration in the labor market.
The CPI m/m data released last Wednesday indicated continued increase in headline inflation mainly due to rise in gasoline prices while core inflation remained unchanged.
U.S. banks will be closed today in observance of Presidents’ Day. Expect lower trading volatility and volume.
During a webinar last Thursday, Federal Reserve Chairman Jerome Powell expressed dovishness in the U.S. job market. Although unemployment rate has declined back to around 6%, Powell highlighted that the true unemployment rate is closer to 10% if there were no misclassification errors that understated the deterioration in the labor market.
The CPI m/m data released last Wednesday indicated continued increase in headline inflation mainly due to rise in gasoline prices while core inflation remained unchanged.
- CPI m/m (Actual: 0.3%, Forecast: 0.3%, Previous: 0.4%)
- Core CPI m/m (Actual: 0.0%, Forecast: 0.2%, Previous: 0.1%)
U.S. banks will be closed today in observance of Presidents’ Day. Expect lower trading volatility and volume.