Softer U.S. Inflation Expected in June Ahead of Another Hold from Fed

In focus today This morning we will get the National Accounts for Q4 2023 in Denmark. We expect the numbers to show a sharp rebound in GDP growth to 1.0% q/q in Q4 after the 0.7% decline in Q3. Both the decline and the rebound are driven by industrial production which again is primarily driven […]

Key insights from the week that was. In Australia, the Q4 CPI printed 0.6% (4.1%yr) for headline inflation and 0.8% (4.2%yr) for core trimmed mean inflation, meaningfully lower than the RBA’s forecast of 4.5%yr across both indicators. The detail of the report confirmed disinflation’s pace is faster than expected and it has breadth. Indeed, the […]

EURUSD extended pullback from a multi-month high (1.0948) and cracked pivotal supports at 1.0840/33 (Fibo 38.2% of 1.0666/1.0948 / 20DMA) but struggling to make a clear break lower. Oversold conditions on daily chart provided headwinds, suggesting that bears may take a breather, as markets await release of US July PMI data, due later today. Traders […]