United States<\/a> (US) Consumer Price Index (CPI) data disappointed Fed policymakers in the first three months, forced them to emphasize keeping interest rates at their current levels.<\/p>\nFor the April month, US inflation has declined as expected and the labor demand remained soft, suggesting that the progress in inflation declining to the 2% target is on track. This has strengthened expectations for the Fed to begin reducing interest rates from the September meeting.<\/p>\n
On the economic data front, investors will look to US S&P Global PMI data for May, which will be published on Thursday. The economic data will indicate whether the economy is effectively coping with the consequences of the Fed’s higher interest rates.<\/p>\n
Meanwhile, the Japanese Yen is under pressure as investors worry about the limited scope of policy tightening by the Bank of Japan (BoJ). Th Japanese economy was contracted at a faster pace in the first quarter of this year. Going forward, the National CPI data will provide fresh guidance on interest rates, which will be published on Friday. The National CPI excluding fresh goods is estimated to have declined to 2.2% from the prior reading of 2.6%.<\/p>\n
\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
USD\/JPY is stuck in a tight range as the US Dollar consolidates. The US Dollar stays on the sidelines despite Fed officials maintaining hawkish guidance on interest rates. Investors await the US S&P Global PMI and Japan\u2019s National CPI data. The USD\/JPY pair displays a sharp volatility contraction near 155.60 in Monday\u2019s European session. The […]<\/p>\n","protected":false},"author":2,"featured_media":8626,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,367,248,251,246,257,459,366,255,388,250,252,247,253,249,275,256,254],"class_list":["post-305642","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-boj","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-dollarindex","tag-fed","tag-gta","tag-inflation","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-usdjpy","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/305642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=305642"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/305642\/revisions"}],"predecessor-version":[{"id":305646,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/305642\/revisions\/305646"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/8626"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=305642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=305642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=305642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}