NZD/USD trades flat below 0.6100 at the start of the week NZDUSD Majors Currencies
Markets continue to asses jobs reports from the US released on Friday. cooled down, leading to a USD sell-off and a decline in US bond yields. It is intriguing why markets disregarded the rise in Average Hourly Earnings so quickly, which may contribute to inflationary pressures. The week’s highlight is the release of inflation data from the US on Thursday, with the headline figure expected to increase to 3.3% from the previous 3% in June while the Core measure to decrease to 4.7% YoY from 4.8%.
As a reaction, the US bond yields are showing a mixed performance. The 10-year bond yield trades at 4.09%, seeing 0.79 % gains on the day, while the 2-year yield stands with mild payments at 4.77% and the 5-year yields at 4.17%, seeing a 0.70 % increase, respectively. As for now, according to the CME FedWatch tool, the odds of a 25 basis point hike remain low for the following September meeting they top out near 30% for the November decision.won’t reveal any high-tier data this week. The highlight will be Chinese data to be reported on the early Asian session on Tuesday, which will impact the Asian block currency depending on its outcome.
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