Take Five: Surfin USATraders are on alert for Japanese currency intervention, while weighing up the effects of U.S. market turbulence. The Fed on Wednesday acknowledged a recent lack of progress on inflation, although Chair Jerome Powell reiterated that rates are likely to fall in 2024. Elsewhere in Europe, Sweden is seen as likely to start cutting rates on May 8 as inflation falls faster than expected. No policy change is expected but markets will watch any comments from Governor Michelle Bullock closely. Having been spooked by the inflation figures, markets narrowed the odds on the RBA having to raise rates once more.

Source: Hindustan Times May 03, 2024 16:55 UTC