Hello traders! Another dynamic week has passed in the world of Forex, and as always, we’re here to break down the key economic events that shaped the markets.<\/p>\n\n\n\n
The Reserve Bank of Australia unveiled its Monetary Policy Meeting Minutes<\/a>, shedding light on its economic perspective. The highlight? A slight outperformance in the Wage Price Index q\/q, ticking up to 0.9%, against an anticipated 0.8%.<\/p>\n\n\n\n From the United Kingdom: Employment seemed to take a hit with the Claimant Count Change showing a spike to 29.0K, a number surpassing previous expectations. On the inflation front<\/strong>, the Consumer Price Index (CPI) y\/y revealed a slight dip, settling at 6.8%, which still indicates an environment of heightened inflation.<\/p>\n\n\n\n Meanwhile, in Canada: Inflationary trends continued to be the talk of the town. The monthly Consumer Price Index (CPI m\/m) registered a substantial climb to 0.6%, exceeding market predictions<\/a>. Both Median CPI y\/y and Trimmed CPI y\/y remained consistent, echoing the steady nature of Canada’s inflation scenario.<\/p>\n\n\n\n From the United States: Mixed signals came through. Retail Sales m\/m showed resilience with an increase to 0.7%, surpassing market expectations. Conversely, the Empire State Manufacturing Index presented a shocker, plummeting to a concerning -19.0. As for the job market, the weekly Unemployment Claims figures gave a bit of relief, clocking in at 239K, marginally below the previous week’s number.<\/p>\n\n\n\n And from the lands down under – New Zealand, Monetary policy stayed in the spotlight. The Reserve Bank of New Zealand (RBNZ) maintained its stance, keeping the Official Cash Rate<\/strong> unchanged at 5.50%. Insights and updates from their Monetary Policy and Rate Statement were further elaborated upon in the press conference.<\/p>\n\n\n\n