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Rates Spark: Eurozone Growth Recovery Not To Be Ignored
US and euro rates opened the week lower, continuing the dovish sentiment from the week before. Markets are pricing in 75bp of ECB rate cuts for 2024, but two cuts are also still on the table, and thus market pricing should be lower.
Philippines: Inflation Was Lower Than Expected But Stayed Elevated Due To Rice
April inflation settled at 3.8%YoY as rice inflation surged by 23.9%.
Asia Morning Bites For Tuesday, May 7
RBA rates decision today as markets price out cuts this year. Inflation reports out from Taiwan and the Philippines are also due.
Asia Morning Bites - Sunday, May 5
China’s Caixin PMI services and composite reports are set for release today. Indonesia reports growth data for the first quarter.
Key Events In Developed Markets And EMEA For The Week Of May 13
A quiet week in the US features the Senior Loan Officer Opinion survey as the main highlight. Elsewhere, we see a brighter UK outlook as signs point to positive growth in the first quarter.
Weaker US Jobs Numbers Boost Expectations Of A September Rate Cut
With Fed Chair Powell leaning dovish at Wednesday’s press conference this has breathed new life into Federal Reserve interest rate cut calls
The Commodities Feed - European Gas Rallies
European natural gas prices rallied yesterday despite comfortable storage and a bearish outlook. The move higher in crude oil was more modest, after several bearish developments over the week
FX Daily: Bearish Dollar Momentum Faces Key Payroll Test
The post-FOMC hawkish repricing of Federal Reserve rate expectations is applying pressure on the dollar, although today’s US jobs figures will be the real pivotal event for FX.
Asia Morning Bites For Friday, May 3
Asian markets are buoyant ahead of the US labour report.
Rates Spark: Payrolls Day, And It’s Potentially A Big One For Rates
The growth and inflation numbers from the eurozone earlier in the week reflected a cautious economic recovery but also contained some reminders of sticky inflation.
Asia Week Ahead: China’s Trade Data And An Upcoming RBA Decision Take The Spotlight
The coming week features China’s trade data as well as the RBA’s upcoming policy meeting. India also reports industrial production numbers, Taiwan releases inflation, and Indonesia and the Philippines release first-quarter GDP data.
Asia Morning Bites For Thursday, May 2
Korean inflation softens. Indonesia releases CPI inflation later.
Fed Holds Policy Steady: Rate Hikes Remain “Unlikely” Despite Lack Of Inflation Progress
The Federal Reserve left its policy rate unchanged and argued its policy stance is “in a good place”, but officials are concerned about the recent lack of progress on inflation.
Softer US Activity Numbers Will Do Little To Temper The Fed’s Hawkishness
Today’s Federal Reserve FOMC meeting is likely to see the Fed adopt more hawkish language than at the March FOMC meeting, but they certainly won’t close the door to potential rate cuts later in the year.
FX Daily: DXY Closing In On Year’s High Ahead Of Fed
The relentless stream of above-expected US inflation data continues. Yesterday it was the turn of the Employment Cost Index to surprise on the upside. Higher US rates have sent one measure of the trade-weighted dollar - the DXY - to the year’s high.
Eurozone Inflation Stable As The Outlook On Prices Gets Increasingly Muddied
​​​​​​​Eurozone core inflation dropped in April from 2.9 to 2.7%, with services inflation moderating the most.
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