Mid Day Market Update – Worry for the Pound

Asian Markets

New Zealand’s Trade Balance (YoY) rose from a previous $-3.79B to $-3.67B in March, with Exports: $4.65B (March) versus $4.01B and Trade Balance (MoM): $332M (March) versus $-18M. New Zealand’s Imports climbed up from a previous $4.02B to $4.31B in March. New Zealand’s Building Permits s.a. (MoM) dropped down to -1.8% in March from a previous 14%.

Japan National CPI Ex Food, Energy (YoY) dropped down to -0.1% in March from a previous value of 0.1%. Japan’s Unemployment Rate came at 2.8% and went below expectations with a value of 2.9% in March. The Japanese job applicant ratio went above expectations with a value of 1.43 in March.

Japan’s core Consumer Price Index (CPI) rose for the third straight month in March, following a 12 month contraction period. The core CPI, which excludes the cost of fresh food, rose by 0.2% y/y in March as opposed to the expected figure of 0.3%.

Australia’s Private Sector Credit (YoY) came at 5% and Australia’s Private Sector Credit (MoM) came at 0.3% in March. Australia’s Producer Price Index (YoY) went up by 1.3% in 1Q from a previous 0.7% and Australia’s Producer Price Index (QoQ) remained at 0.5% in 1Q.

Other Markets

Moving on for the day, we have France’s Gross Domestic Product and Consumer Price Index (EU norm) (YoY) which remains the same when compared with its previous release. The KOF Swiss Leading Indicator may have a slight edge versus its previous release which was seen at 107.6 and is forecasted at 107.8. Any word from Swiss National Bank (SNB) Chairman Jordan can boost the Swiss for the day.

U.K. Gross Domestic Product (QoQ) along with the Gross Domestic Product (YoY) showed mixed results and causes worry for the pound. Euro looks to be in a safe zone with the Consumer Price Index – Core showing good signs and might produce good results, having them in demand.

Canada’s Gross Domestic Product is forecasted at 0.1% and could harm the Canadian dollar as they had better results previously with 0.6%. Greenback’s release for the day is expected to produce a major impact as they have the Gross Domestic Product Price Index which has lost its ground off and stands at 1.3% versus its previous release of 2.1%. However, the Michigan Consumer Sentiment Index remains the same at 98.  We end the week with FOMC Member Brainard’s speech and Trump’s upcoming trade deals.