April CPI

data released on Wednesday:

• US April CPI 4.9% y/y versus 5.0% expected

A response tipping an imminent pause on Federal Open Market Committee (FOMC) rate hikes:

• ICYMI - Federal Reserve insider Timiraos says an FOMC pause over summer "appears likely"

Goldman Sachs also:

Goldman Sachs tip a Federal Open Market Committee (FOMC) pause at the June meeting

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ANZ say no:

• "The combination of the April inflation numbers and the labor market report do not point to an early Fed pivot."
• "Data to date is not signalling an imminent recession, and the labour market's strength argues that any down-turn will be shallow."

ANZ conclude that the Fed will remain hawkish in their commentary. But market sentiment is not keen on more Fed rate hikes. The result will be a volatile USD ahead.

DXY daily:

This article was written by Eamonn Sheridan at www.forexlive.com.

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