OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss this week’s key economic data and events, especially on the recent resurgence of US dollar strength (triggered by FOMC’s pushed back on Fed funds rate cut cycle & stellar US NFP numbers ) that may put further downside pressure on the current depressed state of China and Hong Kong stock markets.
Also on the radar to monitor will be the latest monetary policy guidance from the Australian central bank, RBA out on Tuesday (6 February), market participants are expecting RBA to maintain its policy cash rate at 4.35%, and if it softens its prior hawkish rhetoric on the inflationary trajectory in Australia due to the recent continuation of deceleration in inflationary pressures in the past three months, the AUD/USD may see further downside pressure; also a double whammy from the negative feedback loop triggered by the bearish conditions of Chin stock market.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at firstname.lastname@example.org. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.