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EBC Daily Snapshot May 7, 2024

EBC Forex Snapshot 7 May 2024 The US dollar edged up on Tuesday as more data is needed that align with the NFP report. The Australian dollar fell from near a two-month high after the RBA refrained from ramping up hawkish signals. "Recent data indicate that, while inflation is easing, it is doing so more slowly than previously expected and it remains high," said the RBA in a statement. The central bank's latest forecasts show inflation is expected to pick up to 3.8% and stay there until the end of the year, from 3.6% in Q1. More tightening is unlikely as the economy slowed to a crawl. EBC Group Corporate News Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Group Corporate News EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Publication date:

2024-05-07 09:49:20 (GMT)

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