Hopes for a 'soft landing' of the US economy will be tested with latest inflation data. Economists predict a dip in annual inflation rate to 3.4% for April, down from 3.5% in March, while monthly prices are expected to have risen by 0.3%. Investors await clarity on potential Fed interest rate adjustments based on these readings.
Fed Chair Jerome Powell acknowledges slower than expected fall in inflation. Powell suggests patience with current policies as high interest rates persist. Market analyst Fawad Razaqzada highlights lingering inflation and hawkish Fed sentiments, boosting the US dollar. Speculation arises over possible Fed interest rate cuts following recent economic indicators.
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