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Market Update

The DXY (dollar Index) dropped to a one year low this morning. Results after yet another inflation data, PPI (Producer Price Inflation) decrease of 0.5%.

Only a few days ago, we saw Consumer Price Inflation posting its smallest annual increase since May 2021. Market expectations were raised further that the Federal Reserve’s monetary actions will be forced to pause by June.

Ahead of that, the Federal Reserve still has a interest rate decision meeting in May that looks to be their last rate hike in the near future to not diminish economic output further with too high interest rates levels now that inflation levels are dropping.

Leading us on to today, and the most vital data out is retail sales for the US, month-on-month for March, is expecting to show a contraction of 0.4%, similar to what we saw in February. That could fuel further strain on the USD, that is already on path to report is worst performing week since January.

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