This morning the dollar has strengthened against sterling. It has also strengthened against the euro, amidst eurozone gas restrictions.
Lots of interesting data from the US today, including initial Jobless claims, nonfarm productivity QoQ, S&P global manufacturing PMI and ISM manufacturing PMI. The latest PMI figures beat market expectations of 52, with a reading of 52.8. Today, markets are expecting PMI to make a gentle fall to 52.
This evening, president of the Federal Reserve, Raphael Bostic will speak on inflation. In the last meeting, the Fed’s Chair Jerome Powell said that “another unusually large increase could be appropriate at next meeting” however that would depend on more data.
Further developments in ex-president, Donald Trump’s trial reveal the government has filed its 36-page opposition to his demand for a special master be appointed (a request for an independent mediator examine the documents).
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