What the Stronger Dollar Means for Markets
What’s in Today’s Report:
- What the Stronger Dollar Means for Markets
Futures are little changed following a quiet night of news as markets digest Thursday’s extension of the rally and as markets await comments from Fed Chair Powell later this morning.
Economically, the only notable numbers were Japanese CPI (met expectations at 3.5%) and German PPI (slightly hot at 4.1% vs. (E) 4.0%) but neither number changed the outlook for global inflation and, as such, aren’t moving markets.
Today there are no notable economic reports, but there are several important Fed speakers including Chair Powell (11:00 a.m. ET). So far this week, markets have looked past hawkish commentary from regional Fed Presidents but if Powell hints that the Fed may hike rates in June, we could see some of this week’s rally given back. Other Fed speakers today include Williams (8:45 a.m. ET) and Bowman (9:00 a.m. ET).