AUD/USD Edges Up as US Producer Inflation Eases

AUD/USD edges up to 0.6539 after US producer inflation hints at easing pressures. US Jobless Claims drop, indicating a resilient labor market despite mixed economic signs. Federal Reserve officials express concerns over inflation trends, influencing market expectations about the timing and extent of future rate cuts.

Elsewhere, Federal Reserve officials remain in a wait-and-see mode, led by New York Fed President John Williams, who commented that recent inflation data is disappointing. Richmond Fed Thomas Barkin added that “inflation data raise the question if we are seeing a shift.” Finally, Boston Fed Susan Collins added that she still sees rate cuts in 2024, though they could be fewer than projected.

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