{"id":60473,"date":"2023-04-12T10:11:11","date_gmt":"2023-04-12T07:11:11","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=60473"},"modified":"2025-10-17T11:14:15","modified_gmt":"2025-10-17T08:14:15","slug":"us-cpi-rates-and-feds-minutes-in-the-epicenter","status":"publish","type":"post","link":"https:\/\/www.ironfx-id.com\/pt\/us-cpi-rates-and-feds-minutes-in-the-epicenter\/","title":{"rendered":"US CPI rates and Fed\u2019s minutes in the epicenter"},"content":{"rendered":"

The USD index edged lower yesterday as the market sentiment tended to improve yet US stock markets ended another day of mixed signals as the earnings season is about to begin. On the monetary front we also got some mixed signals as on the one hand Chicago Fed President Goolsbee advised prudence and patience regarding rate hikes, which may have implied that a pause in the rate hike path of the Fed is advisable while on the other hand, Minneapolis Fed President Kashkari and Philadelphia Fed President Harker seemed to maintain their hawkishness. The release of the Fed\u2019s March meeting minutes is to provide further insight into the Fed\u2019s intentions and should the document show a hawkish predisposition from the majority of policymakers we may see the USD getting some support. Attention though is expected to be on the release of the US CPI rates for March and should the rates slow down as expected or even more, we may see the USD weakening as the release may ease the Fed\u2019s hawkishness and vice versa as should the rates show that inflationary pressures in the US economy are persistent, a stronger response from the Fed could be expected. North of the US border, we highlight BoC\u2019s interest rate decision. The bank is expected to remain on hold at 4.50% and currently, CAD OIS imply a probability of 94.48% for such a scenario to materialize. Should also the bank accompany the decision with a dovish statement, or a dovish tone in BoC Governor Macklem\u2019s following press conference we may see the CAD slipping as the monetary outlook differentials may widen. Across the world, in the land of the down under, we note that RBA Deputy Governor Bullock stated that the bank would pause its rate hiking path even without the stress on the global banking sector, which highlighted the bank\u2019s cautiousness. On a more fundamental level, we note that the recent tensions of US-Sino relationships regarding Taiwan, may have an adverse effect on the AUD given the close Sino-Australian economic ties. We expect Aussie traders to place considerable focus on Australia\u2019s employment data for March during tomorrow\u2019s Asian session, but also on China\u2019s trade data for the same month, especially the import growth rate.<\/p>\n\n\n\n

\n