The market focus turns to the Fed's June meeting minutes, which are expected to bolster a hawkish outlook and support the USD. Meanwhile, the RBNZ delivered a hawkish rate hike, and the NBP remains under scrutiny as the Polish zloty faces downward pressure.
Key Takeaways
- 1.The upcoming FOMC minutes are expected to reinforce a hawkish message, providing a floor for the US dollar.
- 2.The Reserve Bank of New Zealand (RBNZ) hiked rates to 2.50% and signaled potential for further tightening.
- 3.The National Bank of Poland (NBP) is expected to hold rates, with the zloty under pressure due to dovish outlooks relative to peers.
Table of Contents
- USD: FOMC minutes to strengthen hawkish message
- EUR: Still quite relaxed about France
- NZD: RBNZ hikes and prepares to do more
- PLN: NBP dovishness keeps pressure on zloty
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Authors
Francesco PesoleFrantisek TaborskyChris Turner
Securities
DXYOATs
Themes
Geopolitical RiskHawkish Central Bank PolicySafe-haven Demand
Regions
Asia PacificEuropeMiddle EastUnited StatesIranNew Zealand