Federal Reserve Board Governor Lisa Cook speaking Friday forexlive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forexlive.com Daily Mail and Mail on Sunday newspapers.
Commodity currencies such as the Australia, the New Zealand and the Canadian dollars came under pressure in the Asian session on Friday, as investors fretted about an upcoming recession.
Major economic announcements are not there on Friday. The earnings calendar for the day also is subdued. President Joe Biden might be announcing his running for the second term.
A soft US inflation print and further signs of deflation across parts of Asia weighed on the US dollar heading into the weekend, with investors fairly certain that the Fed’s terminal rate will peak at 5.25% with an outside chance of a pause at the next FOMC meeting. This week’s key data points include global flash PMI reports, which will show if price pressures are continuing to recede and if growth potential will be as soft as feared. The ZEW sentiment reports for Europe and Germany always warrant a look. Furthermore, we also have inflation reports for the eurozone, UK, Canada and New Zealand, alongside the release of the RBA minutes.