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USD Index Sits At Pre-NFP Levels Ahead Of US Inflation Data

EMERGING MARKETS
  • Focus rests on the US CPI release due at 1330BST/0730ET, with markets on watch for any confirmation that a May 25bps rate hike could be the last of the cycle. Consensus looks for Y/y CPI to slow to 5.1% from 6.0%, although core is expected to tick higher to 5.6% from 5.5%.
  • Additionally, the Minutes to the March 21-22 FOMC meeting are published Wednesday at 1900BST/1400ET. Markets will look to gauge the impacts of recent banking instability on the potential Fed policy path. The USD index sits moderately lower on the day, hovering close to the pre-NFP level around the 102.00 mark.

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