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April 04, 2025
Preview: Due April 17 - U.S. March Housing Starts and Permits - Flat trend, weather still supportive
April 4, 2025 4:59 PM UTC
We expect March housing starts to fall by 2.1% to 1470k, though this would leave them closer to February’s 1501k than January’s 1350k. It would also unusually remain above permits, which we expect to almost unchanged, up 0.1% to 1460k.
Canada March Employment - Consistent message of weakness
April 4, 2025 1:22 PM UTC
Canada’s March employment with a 32.6k decline is the steepest fall since a brief plunge in the lockdowns of January 2012 and highlights the recessionary risks posed by US tariffs. Unemployment rose to 6.7% from 6.6% while wage growth slowed significantly, to 3.5% from 4.0%.
U.S. March Employment - A healthy picture, but can it persist?
April 4, 2025 1:01 PM UTC
March’s non-farm payroll with a 228k increase is significantly higher than expected but less so net of 48k in downward revisions. The month looks like a bounce from two months restrained by bad weather, and shows a still strong labor market, though unemployment edged up to 4.2% from 4.1% and avera
Russia GDP Growth Loses Steam in the First Two Months of 2025
April 4, 2025 9:14 AM UTC
Bottom Line: According to the figures announced by the Ministry of Economic Development on April 3, Russia's GDP expanded by 0.8% YoY in February following a 3% YoY increase in January driven by military spending, higher wages and fiscal stimulus. The softening of growth figures demonstrates monet
UK GDP Preview (Apr 11): Resilience in Spite of Soft(er) Surveys
April 4, 2025 9:13 AM UTC
UK GDP Preview: Resilience in Spite of Soft(er) Surveys
Despite a fresh downside surprise for January numbers, the odds are increasing that current quarter GDP will be decidedly positive as opposed to the weak(ish) picture we perceive. This is all the more likely given the 0.1% m/m ‘recovery’ w
Asia Open - Overnight Highlights
April 4, 2025 12:00 AM UTC
EMERGING ASIA
EM currencies perform mostly stronger against the USD as there is a broad base exodus from the greenback after the universal tariff announcement. The biggest winner is SGD by 0.88%, followed by KRW 0.79%, MYR 0.24%, CNH 0.22%, PHP 0.21%, INR 0.08% and HKD 0.05%; while the largest loser