![]() "The bar is high for a Fed response to data surprises in either direction," said Vishnu Varathan, head of economics and strategy at Mizuho Bank. and I think the dollar could weaken even further, as we have seen in the past." Looking for signs of sticky inflationĮconomists polled by Reuters expect core consumer prices in the United States to rise 5.5% on a year-on-year basis for the month of April.Ī stronger-than-expected reading could prove a headache for the Federal Reserve, which had just last week opened the door to a pause in its aggressive tightening cycle, having delivered 10 consecutive rate hikes since March 2022. "So that means there could be some more volatility in markets. "Typically, in the past, the issues usually get resolved very last minute. "I don't think the issue will be resolved anytime soon. "There has been a lot of attention lately on the debt ceiling issues," said Carol Kong, a currency strategist at Commonwealth Bank. Mr Biden and House of Representatives Speaker Kevin McCarthy remained divided over raising the $US31.4 trillion debt limit following talks on Tuesday (local time), with just weeks to go before the United States may be forced into an unprecedented default. It come as US President Joe Biden and top lawmakers failed to break a deadlock on the debt ceiling crisis. ![]() The Australian dollar was steady at 67.6 US cents, while the US dolar index dipped slightly to 101.64 points. Shares of AMP (-2.2%), Domain (-1.9%), Bluescope Steel (-3.3%) and Pilbara Minerals (-3%) were also among the worst performers. Some of today's best performing stocks include Paladin Energy (+8.4%), Mondalelphous (+3.5%), Telix Pharmaceuticals (+3.3%) and Lynas Rare Earths (+3.3%).Īt the other end of the spectrum, NAB (-4%) and Bank of Queensland (-4.2%) fell sharply as both stocks are trading ex-dividend. ![]() The ASX 200 fell 0.1%, to finish at 7,256 points. The local share market closed marginally lower, as investors cautiously await tonight's US inflation figures.
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