The greenback hit its lowest level against a raft of currencies.There have been inflation spikes in the US which could be adjusted by raising rates.Despite the US dollar sliding, the Australian dollar is unmoved against it and buying 77.90 US cents.
Several US policymakers are expected to speak this week and its central bank is due to release the minutes from its April policy meeting on Wednesday local time. "USD could fall further if the minutes reiterate the messages from Fed’s officials that the pick-up in inflation is considered transitory," Commonwealth Bank analysts said today."The economic toll of a state of emergency was evident in yesterday’s GDP release," CBA analysts said."Whether Japan’s economic recovery resumes in Q2 hinges on how quickly Japanese authorities can bring the virus under control.
"Nonetheless, daily infections in Japan remain close to their peak levels, and the pace of Japan’s vaccinations has been sluggish. "As a result, there is a risk that the latest state of emergency will be extended once again, raising the odds of another contraction in GDP in Q2, 21."Yesterday it closed up 2.1 per cent.
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Hope the corrections will happen soon and the market is back in pace once dollar stabilizes
. How is that possible? Surely the booming global economy in this time of prosperity should keep the market at record highs... Shouldn't it? .
And all the money manipulators get richer at the expense of Joe Average