Fed chair Jerome Powell said on Wednesday that it was time to slow rate hikes, noting that “slowing down at this point is a good way to balance the risks.”
Investors are now turning their attention to nonfarm payrolls data on Friday for clues on how rate hikes have affected the labor market. “Considering what’s come from the inflation side, we’ll need to see strong payrolls numbers for the dollar to rebound,” Pesole added. Futures traders are now pricing for the Fed’s benchmark rate to peak just under 5 percent in May, as compared to a top of over 5 percent before Powell’s comments on Wednesday, according to data from Refinitiv.The yuan was set for its biggest weekly gain since China revalued the currency in 2005, according to Refinitiv data, buoyed by expectations of an exit from China’s zero-COVID policy and a slower pace of interest rate hikes from the Fed.The euro was little changed at $1.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: inquirerdotnet - 🏆 3. / 86 Read more »
Source: bworldph - 🏆 9. / 68 Read more »
Source: bworldph - 🏆 9. / 68 Read more »