美国一季度GDP增速大幅下滑，说明了美国经济的脆弱性，而PCE数据则表明通胀正在飙升。 这两项极其重要的经济措施加在一起，表明 2023 年经济仅是在财政刺激下增长，并加剧了美联储试图克服的通胀压力。 美国的制造业增长极其疲弱，实际上可以称为制造业收缩，就像欧洲的情况一样。 2023/24 年的经济表现可能只是一座“纸牌屋”，而持续且具有破坏性的通货膨胀可能会引发这座极其脆弱的小屋倒塌。 受经济消息影响，股市暴跌，债券收益率大幅上涨。 考虑到收益率，美元仍然出人意料地疲软，欧元兑美元汇率为 1.0720，而英镑则回落至 1.2500。
美元的疲软使得商品货币得以盘整，澳元重回0.6500，而纽元则坚守0.5900。 当地市场等待日本央行最新的利率决定，预计该决定将维持不变，尽管日元（155.75）的意外疲软可能会引发一些意外。 东京 的CPI 数据也将是一个重要的数据点，而澳大利亚 PPI 数据将用于进一步观察澳大利亚顽固的通胀问题。
US GDP growth crashed in Q1, confirming the vulnerabilities in the US economy, while PCE inflation indicated that inflation was surging. These two extremely important economic measures, taken together, point to a 2023 economy growing on fiscal stimulus and fuelling the inflationary pressures the Federal Reserve is attempting to defeat. Manufacturing growth in the US has been extremely weak, in fact could be termed manufacturing contraction, as it in Europe in spades. The economic performance for 2023/24 could be just a ‘house of cards’ and the persistent and damaging inflation, could be the trigger to collapse that deeply vulnerable shack. Equities tumbled, on the economic news, and bond yields spiked sharply higher. The US Dollar remained surprisingly weak considering the yields, as the EUR traded 1.0720, while the GBP pushed back to 1.2500.
The weaker reserve allowed the commodity currencies to consolidate, with the AUD regaining 0.6500, while the NZD secured 0.5900. Local markets await the Bank of Japan latest interest rate decision, which is expected to be a hold, although the unheralded weakness in the Yen (155.75) may illicit some surprises. Tokyo CPI inflation will also be an important data point, while Australian PPI numbers will give further insight into Australia’s stubborn inflation problem.
美元的疲软使得商品货币得以盘整，澳元重回0.6500，而纽元则坚守0.5900。 当地市场等待日本央行最新的利率决定，预计该决定将维持不变，尽管日元（155.75）的意外疲软可能会引发一些意外。 东京 的CPI 数据也将是一个重要的数据点，而澳大利亚 PPI 数据将用于进一步观察澳大利亚顽固的通胀问题。
US GDP growth crashed in Q1, confirming the vulnerabilities in the US economy, while PCE inflation indicated that inflation was surging. These two extremely important economic measures, taken together, point to a 2023 economy growing on fiscal stimulus and fuelling the inflationary pressures the Federal Reserve is attempting to defeat. Manufacturing growth in the US has been extremely weak, in fact could be termed manufacturing contraction, as it in Europe in spades. The economic performance for 2023/24 could be just a ‘house of cards’ and the persistent and damaging inflation, could be the trigger to collapse that deeply vulnerable shack. Equities tumbled, on the economic news, and bond yields spiked sharply higher. The US Dollar remained surprisingly weak considering the yields, as the EUR traded 1.0720, while the GBP pushed back to 1.2500.
The weaker reserve allowed the commodity currencies to consolidate, with the AUD regaining 0.6500, while the NZD secured 0.5900. Local markets await the Bank of Japan latest interest rate decision, which is expected to be a hold, although the unheralded weakness in the Yen (155.75) may illicit some surprises. Tokyo CPI inflation will also be an important data point, while Australian PPI numbers will give further insight into Australia’s stubborn inflation problem.
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