Daily Market Commentary 21st February 2023

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US markets were closed for Presidents Day holiday, on Washington’s birthday, so a quiet trading day across global markets. EU Consumer Confidence remained negative, while Swedish inflation was improving slightly. The EUR trades around 1.0680, while the GBP holds onto 1.2030. PMI  data in Asia, Europe and the USA, will be released tonight and markets eagerly await the Fed minutes on Wednesday.

The RBA minutes will also be released tomorrow and the RBNZ will make their own rate decision on Wednesday. The NZ Central bank is expected to raise rates by 50 basis points, but devastating cyclonic floods are pre-occupying he country. The NZD trades above 0.6200, while the AUD attempts to regain 0.6900. All eyes remain on inflation and central bank speculation.

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