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April 16, 2024
Asia Summary and Highlights 16 Apr
April 16, 2024 5:18 AM UTC
Asia Session
While Japanese cabinet's Suzuki and Hayashi both seems to have escalated their rhetoric against the JPY weakness, the broad USD strength seems to be in the driver seat. No doubt the pace of JPY weakness has been rapid and we are getting closer and closer to the intervention zone, the lan
April 15, 2024
Preview: Due April 26 - U.S. March Personal Income and Spending - Core PCE prices seen less strong than core CPI
April 15, 2024 4:40 PM UTC
We expect March to deliver a second straight 0.3% increase in the core PCE price index, softer than the third straight 0.4% rise in core CPI, which was up by 0.36% before rounding for a second straight month. We also expect a 0.5% increase in personal income and a 0.7% increase in personal spendin
Preview: Due April 16 - U.S. March Industrial Production - Bounce above weak recent trend
April 15, 2024 2:57 PM UTC
We expect March industrial production to rise by 0.6% which would be a significant improvement from a recent marginally negative trend. For manufacturing we expect a modest 0.3% increase, with a 0.2% increase in manufacturing ex autos.
Preview: Due April 16 - U.S. March Housing Starts and Permits - Modest fall in Starts, modest rise in Permits
April 15, 2024 2:26 PM UTC
We expect March housing starts to fall by 2.7% to 1480k after a 10.7% February increase while permits rise by 0.4% to 1530k after a 2.4% increase in January. Recent housing sector data has been mixed but construction details were positive in March’s non-farm payroll.
Preview: Due April 16 - Canada March CPI - Correction after two soft months
April 15, 2024 1:22 PM UTC
We expect March Canadian CPI to move higher to 3.0% yr/yr from 2.8% in February and 2.9% in January, with the monthly data likely to look quite firm after two soft months. However we do expect some modest progress lower in two of the three BoC’s core rates.
U.S. March Retail Sales allow Q1 to come in marginally positive despite a weak start in January
April 15, 2024 12:56 PM UTC
March retail sales with a 0.7% increase have exceeded expectations despite an expected negative contribution from autos, with sales up by 1.1% both ex autos and in the control group that contributes to GDP, and by 1.0% ex autos and gasoline. This suggest continued consumer momentum entering Q2.