In focus today In the US, the preliminary Q1 GDP is due for release this afternoon. Front-loading of imports ahead of the trade war pushed growth contribution from net exports deeply into negative territory, and Read more…
Daily Pivots: (S1) 190.39; (P) 190.87; (R1) 191.34; More… Intraday bias in GBP/JPY is turned neutral first with current retreat. Rebound from 184.35 is in favor to continue as long as 189.28 minor support holds. Read more…
Global financial markets are largely steady ahead of a packed economic calendar, with traders bracing for volatility as Eurozone and US GDP figures, as well as US PCE inflation data, are due shortly. Despite negative Read more…
Headline CPI 0.9%qtr/2.4%yr; Trimmed Mean 0.7%qtr/2.9%yr; Weighted Median 0.7%qtr/2.9%yr. Momentum in core inflation at the bottom of the band. The CPI gained 0.9% in the March quarter, stronger than market consensus (0.8%) and Westpac’s expectation Read more…
China’s factory activity slumped sharply in April as official NBS Manufacturing PMI dropped from 50.5 to 49.0, its lowest level since December 2023 and below expectations of 49.9. Non-manufacturing PMI also weakened from 50.8 to Read more…
Australia’s headline CPI was unchanged at 2.4% yoy in Q1, above expectations of a slight decline to 2.2% yoy. On a quarterly basis, CPI rose 0.9% qoq, also exceeding forecast of 0.8% qoq. The closely Read more…
New Zealand’s ANZ Business Confidence fell sharply in April, dropping from 57.5 to 49.3. The own activity outlook also edged lower from 48.6 to 47.7. ANZ noted the decline may reflect growing apprehension over the Read more…
Japan’s industrial production fell by -1.1% mom in March, significantly worse than the anticipated -0.7% mom decline. According to the Ministry of Economy, Trade and Industry, the sharp drop was led by a -5.9% mom Read more…
Business confidence has largely held up since the US tariff announcement. Key results, April 2025 Business confidence: 49.3 (Prev: 57.5) Expectations for own trading activity: 47.7 (Prev: 48.6) Activity vs same month one year ago: Read more…
Key Highlights Gold started a downside correction from the $3,500 resistance zone. A key contracting triangle is forming with resistance at $3,335 on the 4-hour chart. EUR/USD is consolidating gains below the 1.1420 resistance zone. Read more…