TheNews

New Zealand posted a merchandise trade deficit of NZ$1.273 billion in March, Statistics New Zealand said on Wednesday.

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China's gross domestic product was up 4.5 percent on year in the first quarter of 2023, the National Bureau of Statistics said on Tuesday/

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The Bank of England hiked its key rate for the eleventh consecutive session on Thursday as an unexpected rise in inflation outweighed concerns about the recent banking sector turbulence. The nine-member Monetary Policy Committee decided to lift the bank rate by 25 basis points to 4.25 percent. This was the highest rate since 2008.

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Despite recent turmoil in the banking industry, the Federal Reserve on Wednesday announced that is has decided to continue raising interest rates. The Fed said it has decided to raise the target range for the federal funds rate by another 25 basis points to 4.75 to 5.0 percent.

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EUR/USD will be dancing to the US dollar’s tune next week with Fed chair Powell’s Semi-Annual Testimony to the US Senate’s Banking Committee and the delayed US Jobs Report the highlights.

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