Overnight – German PPI inflation decelerated to 4.1% y/y in April, while the March number was revised down to 6.7% y/y from 7.5% y/y reported initially. The headline was the lowest since March 2021. Services price inflation has accelerated and that will keep inflation above target, even as goods price inflation decelerates further. Japan’s inflation stayed above BOJ’s target.
Today: Fed’s Williams, Fed’s Bowman, ECB’s Schnabel, Fed’s Chair Powell and ECB’s Schnabel speeches. Canadian Retail Sales.
Biggest FX Mover @ (06:30 GMT) NZDUSD (+0.51%) Extends to 0.6266. MAs aligned higher, MACD lines just turned positive, and RSI is at 66 and rising. H1 ATR 0.00107, Daily ATR 0.00631.
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Andria Pichidi
Market Analyst
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