In the Asian session on Friday (May 5), the latest price of the U.S. dollar index was 101.37, and the opening price was 101.42. US Federal Reserve Chairman Jerome Powell said after the Fed‘s interest rate meeting on Wednesday that inflation is still far above the target level and the impact of monetary tightening will take time to be reflected.
Given that the Federal Reserve Board believes that inflation will take some time to come down, a rate cut in the short term is not appropriate. The data released by the U.S. Bureau of Economic Analysis in the morning showed that the U.S. trade deficit in March was $64.2 billion, higher than the market’s expected $63.7 billion, but a significant decrease compared with the February trade deficit revised from $70.5 billion to $70.6 billion. narrow.
