Currencies

The pair slumped to new 2023 lows after RBNZ raised rates to what it believes to be the terminal level, just as expectations around the US Fed become more hawkish

The central bank of New Zealand increased rates to 5.5% today as anticipated, but expects this to have marked the peak, in a dovish shift against market expectations for more tightening ahead

Watch today’s US Open for insights on the developments around the US debt ceiling as we move closer to the estimated deadline, the latest Fed commentary and more

Yields Chart Uptrend Source: www.tradingview.com The top candlestick chart is the weekly US 2-year yield, with the weekly US 10-year yield underneath. The 2-year is a good proxy for monetary policy and the 10-year represents fixed income investors' sentiment. Both instruments have charted a higher trough followed by a higher peak, putting their yields into uptrend. This is in stark contrast to the sentiment shift of March (blue rectangles), where…

Watch today’s US Open for insights on the US debt ceiling hopes, Burberry’s solid FY2023 results, the key takeaways from Tesla’s Investor Day and more

Congress is responsible for increasing these spending limits to avoid default, but Republican House Speaker Kevin McCarthy will not do so without an agreement on spending cuts and spending limits.

The pair had a mixed reaction to today’s wage price index form Australia and remains cautious, as markets digest discouraging Chinese data and debt ceiling talks in the US

Watch today’s US Open for commentary on the latest data from China, IEA’s upgrade in the 2023 oil demand outlook, latest and upcoming earnings and more

The British Pound reacted lower to today’s data that showed an unexpected increase in the jobless rate, which could potentially help the BoE into a less aggressive stance, but wages remain elevated

The debt-ceiling impasse in Washington is currently the primary driver of the dollar's performance. Negotiations between President Biden and congressional leaders are set to resume on Tuesday, but without positive news, investor fears may continue to grow. As such, the balance of risks is currently tilted to the upside for the dollar, with safe-haven flows likely to continue as risk sentiment remains subdued.

The pair registered its worst week since September, as risk factors helped the greenback, but finds reprieve today ahead of critical support region