Global Inflation Clues Due Today; Powell Says Fed Ready to Keep Hiking; US Dollar Recovering, Commodity Currencies Weaker
The Chair of the Federal Reserve, Jerome Powell, stated yesterday that the Fed will continue to raise rates until inflation declines, and that if the Fed has to move beyond a “neutral” monetary policy, it will.
Australian Wage Price data came in slightly lower than expected, which perhaps dampens Australian inflation expectations a little.Daily new coronavirus cases globally fell last week for the eighth consecutive week.
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