March 30, 2023 10:56 GMT
Greenback Remains On Back Foot
- The European Central Bank should keep to its baseline economic scenario and continue to raise rates to bring inflation back to target before 2025 as fears of a banking crisis recede, Bank of Latvia governor Martins Kazaks told MNI. "It's way too early - even with headline inflation starting to come down - to declare any kind of victory with respect to inflation," Kazaks said in an interview.
- The greenback is softer headed through to the NY crossover, with the USD Index (-0.26%) holding close to mid-March lows. German regional CPI data has been in focus, sending mixed signals over the sustainability of the decline in headline inflation.
- Focus turns to the confirmation for preliminary German CPI for March, as well as the weekly US jobless claims. Tertiary Q4 GDP from the US is unlikely to move the needle, but Fed speakers will be eyed. Fed's Barkin, Collins and Kashkari are on the docket just after the London close.