**: Market information.
On March 5, Atlanta Fed President Bostic said he expects the Fed to cut interest rates for the first time in the third quarter and will then pause at its next meeting after that cut to assess the impact of the policy shift on the economy. In a separate commentary published by the Atlanta Fed** on Monday, Bostic said he was concerned that businesses were overbooming and that a rate cut could unleash a lot of new demand, exacerbating price pressures. Speaking to reporters at a press conference, he said this could be another reason not to rush to cut interest rates. Bostic said, "I don't expect them to cut rates consecutively. Given the uncertainty, I think there's some appeal to taking action and then seeing how market participants, business leaders and households react to it. Bostic's comments come ahead of Fed Chair Jerome Powell's monetary policy testimony to Congress. Powell is expected to reiterate the Policy Committee's message that there is no rush to cut rates.
In addition, Nouriel Roubini, a well-known economist known as "Dr. Doom" who accurately reported the 2008 financial tsunami, said on Monday that he is now most worried about the overheating of the U.S. economy. That said, the economy may not slow down at all. This view is unique among many Wall Street bigwigs. He said that while there is a lot of talk about a so-called "soft landing", he believes that the economy may not land at all, and in the case of a "no landing", economic growth will continue to accelerate. In this case, this could shake the market. In his latest interview, Roubini said, "Earlier this year, the market was expecting six to eight rate cuts. Now they have agreed with what the Fed told us that there were only three rate cuts. ”
Today's data to watch out for are the final UK Markit services PMI for February, the revised US durable goods orders for January, the US factory orders for January and the ISM non-manufacturing PMI for February.
*Dollar. * Yesterday it climbed sharply, hitting the 2120 mark at one point, and is now trading around 2119. In addition to the weakening of the U.S. dollar index, investors' expectations for the Fed's interest rate cut in June are also important factors supporting the climb. In addition, after breaking through the pressure of the 2100 mark, some short orders were forced to stop losses, which also exacerbated the rally. Watch for pressure around 2130 today, with support around 2110 below.
Australian Dollar US Dollar.
The Australian dollar fell yesterday, closing slightly lower on the daily timeframe, and the exchange rate is now trading at 0Around 6500. In addition to profit-taking, the overall weak economic data from Australia during the session also weighed on the pair. However, the weakening of the dollar index under the combined pressure of multiple negative factors limited the room for the pair. Focus on 0 todayPressure situation around 6600, with lower support at 06400 nearby.
U.S. Dollar Canadian Dollar.
USDCAD rose yesterday and closed slightly higher on the daily timeframe, and is now trading at 13580 nearby. In addition to the short-covering that provided some support to the pair, the retreat from the high also provided some support to the pair. However, the weakening of the dollar index under the pressure of multiple negative factors limited the best room for the pair. Focus on 1 todayPressure situation around 3650, with lower support at 13500 nearby.