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May 04, 2026
Preview: Due May 13 - U.S. April PPI - Core rates to pick up from below trend March
May 4, 2026 5:31 PM UTC
We expect PPI to rise by 0.5% overall in April for a third straight month. We expect the lift from energy to be less sharp than in March, but the core rates to pick up from below trend March gains, ex food and energy to 0.3% from 0.1%, and ex food, energy and trade to 0.4% from 0.2%.
Preview: Due May 12 - U.S. April CPI - Energy to rise less sharply than in March, but air fares to lift the core
May 4, 2026 3:56 PM UTC
We expect April CPI to increase by 0.5% overall and 0.3% ex food and energy, with the latter rising by 0.33% before rounding and the highest since January 2025. Seasonal adjustments will restrain the increase in gasoline but we expect feed through of energy prices to air fares to be factor in liftin
Preview: Due May 5 - U.S. February and March New Home Sales - Trend subdued, but January was below trend
May 4, 2026 12:51 PM UTC
New home sales for both February and March will be released on May 5. We expect a level of 675k in each month, which would be up by 15.0% from January’s 587k, which was the lowest level since October 2022. January’s data was well below recent trend and may have been weather-impacted. We would no
Preview: Due May 5 - U.S. April ISM Services - March new orders imply underlying strength persists
May 4, 2026 12:33 PM UTC
We expect April’s ISM services index to pick up to 54.5 from 54.0 in March, after slipping from February’s 56.1, which was the highest reading since July 2002. April’s S and P Services PMI picked up, but was still quite weak at 51.3 after slipping to 49.8 in March. The two series are not well
Preview: Due May 5 - U.S. March Trade Balance - Wider goods deficit to be partly offset by rise in services surplus
May 4, 2026 12:28 PM UTC
We expect a March trade deficit of $60.4bn, up from $57.3bn in February. We expect gains of 1.5% in exports and 2.1% in imports, extending respective February gains of 4.2% and 4.3% respectively.
April Inflation Hits 32.4% y/y: Iran Conflict Drives Steeper Monthly Pressures
May 4, 2026 8:55 AM UTC
Bottom line: Turkish Statistical Institute (TUIK) announced April inflation figures on May 4. After hitting 30.9% annually in March, Turkiye’s inflation accelerated to 32.4% y/y (4.2% m/m) in April as the economy remains under pressure from Iran war. April reading was driven by rising housin
May 01, 2026
U.S. Fed's Kashkari, Hammack and Logan explain their hawkish dissents
May 1, 2026 2:42 PM UTC
The three hawkish dissents at the latest meeting were against an easing bias. Kashkari seems the most hawkish, with a leaning to tightening. Hammack and Logan both noted resilence in activity data as well as infltionary risk. There was a dovish dissent from Miran, but he will leave the Fed once Wars
U.S. April ISM Manufacturing - Stable but with higher inflationary pressure
May 1, 2026 2:22 PM UTC
April’s ISM manufacturing index at 52.7 is unchanged from March and slightly below expectations but this still means four straight clearly positive readings from an index that had been running below neutral for the ten preceding months.
Norges Bank Preview (May 7): A Close Call?
May 1, 2026 12:31 PM UTC
The next Norges Bank decision next Thursday will be a close call, not least after the clear pointer from the Board in March that at least one rate hike looms in the next couple of months. While we acknowledge the hawkish and active manner of the Board we adhere to a stable policy decision outlook