Tuesday 23rd November 2021
The US dollar and bond yields rose on the news that Jerome Powell is to keep the top job at the Fed for another term, with Lael Brainard as deputy. Even though both are doves, NAB’s Ray Attrill says the market still has two or three rate rises priced in for next year. The Aussie dollar has avoided collateral damage from the raising US dollar, helped by the news of border reopenings, that will help foreign workers to return. Today is PMI day, which is expected to give a further clear delineation between the strength of thew US economy versus the woes faced in Europe. The Euro is expected to continue to bear the brunt of any rises in the dollar.