Financial News
- Bob Mason
China GDP numbers for Q1 eased fears of a snail’s pace economic recovery, delivering support to riskier assets and commodity currencies.
- James Hyerczyk
New orders and shipments rose significantly in April, contributing to a surprising increase in the Empire State business index.
- Bob Mason
The Italian CPI Report signaled a sharp fall in headline inflation. However, core inflation remained unchanged, which will be an ECB bugbear.
- Vladimir Zernov
Rising Treasury yields put pressure on gold and stocks, while the U.S. dollar rebounded from yearly lows.
- James Hyerczyk
In March 2023, the estimated sales of retail and food services in the US were $691.7 billion, reflecting a 1% decrease from the previous month.
- Bob Mason
This morning, French inflation softened raising the prospects of a more modest 25-basis point ECB rate hike in May. However, core inflation remains an issue.
- Vladimir Zernov
Traders prepare for Fed rate cuts in the second half of the year.
- James Hyerczyk
Final demand prices experience decline in March, with goods prices as the main contributor
- Bob Mason
This morning the UK GDP Report drew plenty of interest. With the UK economy stalling in February, the pressure on the BoE to make a move should subside.
- Vladimir Zernov
Fed policy outlook has not changed, and traders expect that Fed will raise the rate by 25 bps at the next meeting in May.
- James Hyerczyk
Core CPI increased 0.4% and YoY core inflation was 5.6%, higher than target.
- James Hyerczyk
Retail sales in the Eurozone continued to struggle, contracting for the fifth consecutive quarter in the first three months of 2023.
- Bob Mason
It was a busy morning, with China’s inflation figures in the spotlight. Softer inflation and a deeper decline in the PPI eased inflationary jitters.
- Vladimir Zernov
U.S. dollar gained ground as Treasury yields tested new highs. Gold settled below the important $2000 level.
- James Hyerczyk
Markets brace for a week of key events, including US inflation data and updates on global economic growth.
- Vladimir Zernov
The American currency is gaining ground as traders bet that Fed will raise the rate by 25 bps at the next meeting.
- James Hyerczyk
US Payrolls rise by 236k in March 2023, while unemployment rate dips to 3.5% and average hourly earnings increase.
- Vladimir Zernov
USD/CAD is trying to settle above the 1.3480 level despite the pullback in Treasury yields.
- James Hyerczyk
Despite initial claims dropping, insured claims hit highest level since December.
- Bob Mason
German industrial production figures impressed this morning, with a 2 increase beating forecasts of a 0.1% rise. Next up, US jobless claims.