USD: News and data flow could well provide some fresh legs - Westpac

Richard Franulovich, Research Analyst at Westpac, suggests that the news and data flow next week could well provide the USD with some fresh legs.

Key Quotes

“April headline CPI for example likely to print as high as +0.4/0.5%, the biggest monthly increase in some years thanks to higher gasoline prices. The FOMC minutes for their late April meeting, while unlikely to have a strong hawkish overtone, will nevertheless signal that most members remain at least open minded toward the June option, that external risks have dissipated and that Q1 growth weakness is mostly transitory. The Fed is ultimately likely to stand pat in Jun but OIS odds of zero are surely too low.”