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United States core PCE printed at 4.6% y/y and the previous number was revised higher to 4.7% y/y. The annual change has a lower peak (LP) followed by a lower trough (LT) and its ROC is on the deceleration side of zero. This needs to maintain for the disinflation process to unfold towards target. However, the monthly core PCE came in at 0.3%, which is 3.66% annualised – still high…
An initial estimate suggests that the German economy has not yet escaped recession, with GDP growth remaining stagnant in the first quarter of the year after a contraction of 0.5% in Q4 2022. Despite the recent rebound in industrial production and improved weather conditions, the German economy remains in danger of recession due to ongoing challenges, including high retail energy prices and the impact of monetary policy tightening. Although industrial…
In the first meeting under new Governor Mr Ueda, the BoJ stood pat on its easy policy setting, but tweaked its forward guidance and upgraded its inflation forecast
Watch today’s US Open for commentary on the strong quarterly results by tech heavyweights, the persistent fears over the health of the financial system, the latest GDP figures from the US and more
FXCM’s CHN50 basket may be charting a top, with a potential head and shoulders pattern. This pattern is a reversal pattern, suggesting a reversal to the downside. We are watching the neckline – a break below will signal the pattern’s completion and will be bearish.
Watch today’s US Open for commentary on the upcoming Big Tech earnings, the renewed banking jitters, the latest ECB-speak and more
The regional US bank came under pressure after the failure of Silicon Valley Bank in March and is latest earnings report revealed a 40% slump in deposits during the first quarter
UK headline CPI came in above 10%; forecasts were for a single digit print. EUR CPI also suggest sticky elements to inflation. ECB and Fed official’s commentary were hawkish in nature. The job market is still tight but initial unemployment claims have started to tick up. Markets will be looking at US GDP and core PCE for direction. This week includes Government Ueda’s first BoJ meeting and it is a…
The latest data shows that the LEI declined by 1.2% in March to 108.4. This follows a decline of 0.5% in February. From September 2022 to March 2023, the LEI was down 4.5%, which is steeper than the 3.5% decline for the previous six months.
Watch today’s US Open for commentary on the quarterly results by Netflix and Tesla, the higher than expected UK inflation, its deceleration in New Zealand and more
Watch today’s US Open for commentary on the strong economic data from China, the elevated wage figures from the UK, the upcoming earnings from Netflix and Tesla and more
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