Important events today:

15:00 UTC – US: Fed Board of Governors Chairman Jerome Powell will deliver a speech.

The U.S. Federal Reserve presented fresh data on the U.S. banking system, according to which the dollar liquidity surplus grew by $54.6 billion, thanks to spending by the U.S. Treasury. There is still $86.4bn left in the Treasury’s coffers, which might be enough by early June. Judging by the comments from Republican officials, the problem with the situation with the U.S. debt ceiling settlement is likely to be safely resolved next week.

If there is no consensus, the Treasury Department could use the so-called emergency measures of $88bn, which will be enough until mid-June, and then there will be enough corporate tax revenues to last another month and a half. The latest Fed estimate shows that the wage growth in the U.S. has come down sharply, which is a sign of slowing inflation and will allow the monetary authority not to raise rates at the summer meetings, which is negative for the dollar.

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