The US economy expanded by 1.6% q/q in the first three months of the year, missing estimates of 2.5% and down from 3.4% in Q4 2023. US dollar firms after PCE figures nudge higher.
Yield curve inversion has historically been associated with economic slowdowns and recessions in the US.
The yen continues to depreciate, adding pressure to Japanese authorities to respond. Will recent wage growth and yen weakness bring the inflation target within reach?
The Euro has been buffeted over the last few sessions against the US dollar, while EUR/GBP has jumped on recent Sterling weakness.
Australian inflation dropped at a slower pace than anticipated, wiping out any lingering indication of rate cuts this year. Improved risk sentiment supports AUD