 Inflation data were the key drivers in the forex markets last week, though they failed to produce any sustained movements across major currencies. Australian Dollar rallied following robust CPI figures, yet its gains were limited by the prevailing risk-off sentiment in the region. Similarly, Euro received a modest boost after unexpected acceleration in inflation, but traders remained cautious, opting to wait for the upcoming ECB rate decision and economic projections before making significant bets. In US, PCE inflation data provided relief to stock investors, contributing to stabilization of risk sentiments that subsequently placed pressure on the Dollar. In terms of performance rankings, Swiss Franc dominated as the most impactful mover, significantly bolstered by SNB's intervention signals. Australian and New Zealand Dollars rounded out as the next strongest. Conversely, Japanese Yen was the weakest, though it stayed above its near-term support against most counterparts. Dollar and Euro trailed as the second and third weakest, respectively, while British Pound and Canadian Dollar closed the week with middling performances... |
