View:
May 05, 2025
Asia Open - Overnight Highlights
May 5, 2025 12:00 AM UTC
EMERGING ASIA
Most EM currencies are trading higher against the greenback as risk appetite returns strong. The only loser is INR by 0.37%; while the biggest winner is TWD by 3.82%, followed by KRW 1.66%, MYR 1.39%, THB 1.07%, IDR 1.01%, SGD 0.97%, CNH 0.91%, PHP 0.49% and HKD 0.09%.
USD/CNH is trading
May 04, 2025
May 02, 2025
Preview: Due May 15 - U.S. April Retail Sales - Autos to correct lower, but underlying momentum to persist
May 2, 2025 6:22 PM UTC
After a strong 1.4% increase in March, we expect retail sales to rise by only 0.1% in April, though gains of 0.4% ex autos and 0.5% ex autos and gasoline should show that the consumer still has some underlying momentum, despite plunging consumer confidence.
Preview: Due May 16 - U.S. April Housing Starts and Permits - Trend has little direction
May 2, 2025 5:00 PM UTC
We expect April housing starts to rise by 5.7% to 1400k after a fall of 11.4% in March, while permits fall by 0.5% to 1460k after a 0.5% increase in March. While starts have been more volatile than permits in recent months, trend continues to have little direction.
FOMC Preview for May 7: No change with future policy left data-dependent
May 2, 2025 3:47 PM UTC
In the current exceptionally uncertain environment, the FOMC looks set to keep rates unchanged at 4.25-4.5% at its May 7 meeting, and give little away on future policy. This meeting will not see the dots updated. Chairman Powell however at the press conference is likely to signal that future meeting
U.S. April Employment - Suggests economy where Fed wants it, but can it persist?
May 2, 2025 12:57 PM UTC
April’s non-farm payroll with a 177k increase is on the firm side of expectations and shows the labor market remained solid in early April, but the upside surprise is offset by 58k in net downward revisions. Unemployment was unchanged at 4.2% as expected but a below consensus 0.2% rise in average
This week's five highlights
May 2, 2025 10:00 AM UTC
The Hope for A Peace Deal in Ukraine Seems Not Close
China South China Sea Tensions
U.S. Q1 GDP dips while Imports Surge goes into Inventories and Business Investment
U.S. April Employment Will Provide few Clear Signals for Labor Market Weakness
BoJ Halved 2025 GDP Forecast
EZ HICP Review: Headline Fails to Fall as Services Inflation Rises on Easter Effect?
May 2, 2025 9:46 AM UTC
EZ HICP inflation failed to fall back toward the 2% target in flash April data, instead staying at 2.2%. More notably, services inflation jumped 0.4 ppt, very probably due to the impact of the timing of Easter affecting airfares and holiday costs. As was the case when this Easter effect last happe