EURAUD Exchange Rate

Germany's consumer confidence is set to rise again in May to hit a two-year high as households turned more optimistic about future income, adding to the list of positive indicators that suggests the biggest euro area economy is likely to undergo a very shallow recession. The forward-looking consumer sentiment index rose to -24.2 in May from a revised value of -27.3 in April.

Germany's business sentiment strengthened for the third straight month to a near one-year high in April on a notable improvement in confidence among service providers. The business confidence index climbed to 89.4 in April from a revised 87.9 in March, monthly survey results from the ifo Institute showed on Wednesday. This was the highest score since May 2023, when the reading was 91.4.

The Australian dollar strengthened against other major currencies in the Asian session on Wednesday, following the release of Australia's higher-than-expected consumer prices on quarter in the first quarter of 2024.

The Australian dollar strengthened against other major currencies in the Asian session on Wednesday.

USD: Revisiting the Depth of Market Movements. The response to last week's blend of softer US inflation figures and indications of a slowdown in consumer spending resembles the market's reaction following the initial decline in inflation during the summer.

Dollar rebounds from CPI low, bond yields extend drop after US super core inflation slowed to 5.1% yoy.