- Fed’s Neel Kashkari stated that it is too soon to declare that the fight against inflation is over, despite the economy starting to show signs of it slowing. Earlier to his words, he also added that the risk of over-tightening is preferable to not doing enough, which would delay the central bank on its race back to the 2% goal.
- The US Dollar started the day steady but gaining against major peers, with the Dollar Index following yesterday’s close at +0.1%.
- EUR/USD is lower, currently trading at 1.0694 after Germany Industrial Production MoM posted a -1.4% decrease, vs. -0.1% survey. Investors now wait for the euro-area PPI data due later this morning, where the YoY gauge is estimated at -12.5%, vs. prior -11.5%.
- GBP/USD followed its European peer, and it is trading lower at 1.2320, as Rishi Sunak waits for the King Charles’s speech at the opening of the Parliament to set out the government’s legislative agenda that will keep him and the conservative parliament in power.
