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April 16, 2024
Preview: Due April 24 - U.S. March Durable Goods Orders - HInts of underlying improvement
April 16, 2024 3:00 PM UTC
We expect March durable goods orders to rise by 2.5%, with most of the gain coming from transport, aircraft in particular, but we expect a 0.5% increase ex transport to show some hints of underlying improvement.
U.S. March Industrial Production - Manufacturing backing improved ISM signal
April 16, 2024 1:34 PM UTC
March industrial production with a 0.4% increase was in line with expectations though manufacturing with a rise of 0.5% exceeded expectations and there appears to be some underlying improvement there.
U.S. March Housing Starts slide, permits suggest trend is peaking
April 16, 2024 1:11 PM UTC
March housing starts were significantly weaker than expected with a 14.7% decline to 1321k, while permits fell by 4.3% to 1458k. Both declines need to be seen alongside February increases of 12.7% for starts and 2.3% for permits, but there are hints that a lengthy uptrend is now peaking.
Canada March CPI a little firmer after two soft months, but BoC core rates continue to fall
April 16, 2024 12:53 PM UTC
March’s Canadian CPI has seen an as expected increase to 2.9% yr/yr from February’s unexpectedly softer 2.8%. On the month the seasonally adjusted data is a little firmer after two soft months but the Bank of Canada’s core rates continue to fall.
China: Q1 Upside Surprise, but March Disappoints
April 16, 2024 8:33 AM UTC
Q1 GDP upside surprise was driven mainly by public sector investment. With the government still to implement the Yuan 1trn of special sovereign bonds for infrastructure spending, public investment will likely remain a key driving force. However, the breakdown of the March data show that retail s
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