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EBC Daily Snapshot May 16, 2024

EBC Forex Snapshot 16 May 2024 The dollar skidded to multi-month lows on Thursday after US core inflation hit its slowest in three years. The Australian dollar was dragged lower by a weak jobs report from its four-month high. Australian employment rose by more than expected in April, data showed on Thursday, but the jobless rate still climbed to a three-month top. Wage growth eased for the first time in Q1 since Q4 2022. Speculative wagers against the Aussie are hovering near a two-year high, but some strategists say the heavy bets may backfire as a lot of the bad news like geopolitical risks is already in the price. EBC Group Brand Influence 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 or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Publication date:

2024-05-16 10:27:16 (GMT)

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