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April 28, 2026

North American Summary and Highlights 28 Apr
Freemium Article

April 28, 2026 7:25 PM UTC

Overview - In another quiet day, the USD advanced in Europe but corrected in North America. 

Preview: Due April 29 - U.S. February and March Housing Starts and Permits - A fairly flat picture
Paying Article

April 28, 2026 6:22 PM UTC

Housing starts and permits data for both February and March will be released on April 29. We expect a fairly flat housing market picture to emerge, with starts falling by 7.2% in February to 1380k after a 7.2% January increase, followed by a 1.4% rise to 1400k in March. We expect permits to rise by

Preview: Due May 6 - U.S. April ADP Employment - Weekly ADP data suggests a stronger rise
Paying Article

April 28, 2026 6:14 PM UTC

We expect a 140k increase in April’s ADP estimate for private sector employment, which would be the strongest since a matching gain in January 2025. It would not be quite as strong as a 4-week average of 39.25k in the weekly ADP employment report for the weeks to April 11 implies. We assume some l

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Preview: Due May 8 - U.S. April Employment (Non-Farm Payrolls) - Not as strong as March but some positive signals
Paying Article

April 28, 2026 5:12 PM UTC

We expect April’s non-farm payroll to rise by 90k overall and by 95k in the private sector, less strong than in March but implying some improvement in trend. We expect unemployment to slip to 4.2% from 4.3% and an in line with trend 0.3% increase in average hourly earnings. 

Preview: Due April 29 - U.S. March Durable Goods Orders - A moderate rise, upside risk in defense
Paying Article

April 28, 2026 4:05 PM UTC

We expect March durable goods orders to increase by 1.0% overall, with a 0.4% increase ex transport, with most of the transport increase coming in defense. Ex transport trend will remain positive, but a 0.4% increase would be slightly below recent trend. We expect a 0.5% increase ex defense.

Chart USD/CAD Update: Limited tests higher
Freemium Article

April 28, 2026 4:03 PM UTC

The test of support within the broad 1.3600 - 1.3630 range is giving way to a steady intraday bounce

Preview: Due April 29 - U.S. March Advance Goods Trade Balance - February exports gain less sustainable that that of imports
Paying Article

April 28, 2026 3:10 PM UTC

Trade data has been volatile recently and advance goods data could have an impact on Q1 GDP expectations, with GDP data due on April 30. We expect a deficit of $87.8bn, up from $83.5bn in February and $80.9bn in January.

FX Daily Strategy: Asia, April 28th
Paying Article

April 28, 2026 3:00 PM UTC

Uncertainty keeping the Fed on hold
Bank of Canada No hawkish shift from energy price shock
A Slate of U.S. Data

U.S. April Consumer Confidence remains resilient, labor market view improves
Freemium Article

April 28, 2026 2:26 PM UTC

The Conference Board’s consumer confidence index, as was the case in March, has proven surprisingly resilient to worries on gasoline prices, with the index seeing a third straight marginal rise, to 92.8 from 92.2.

Chart AUD/USD Update: Leaning lower in range
Paying Article

April 28, 2026 1:35 PM UTC

Cautious trade beneath strong resistance at the 0.7200 Fibonacci retracement is giving way to a drift lower

Chart USD/JPY Update: Further consolidation
Paying Article

April 28, 2026 1:24 PM UTC

Still little change, as prices extend consolidation above 159.00

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Big EM: Diverging Fiscal Trends
Paying Article

April 28, 2026 12:35 PM UTC

·       EM government bond spreads are controlled as 2nd round inflation effects are likely to be less than 2022, due to less buoyant domestic demand/slacker labour markets and less global supply chain pressure ex oil/oil products.  Brazil is expected to cut rates and others will likely not

Chart EUR/CAD Update: Spike lower not sustained - studies under pressure
Paying Article

April 28, 2026 11:02 AM UTC

The test below 1.5965 has bounced smartly from above the 1.5935 Fibonacci retracement

FX Daily Strategy: N America, April 28th
Paying Article

April 28, 2026 9:00 AM UTC

BoJ Hold 6-3
Could See Support for the JPY 
Else Geopolitics Dominate 

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Eurozone: Even Tighter Corporate Credit Standards Continues and More Loans Applications Rejected
Paying Article

April 28, 2026 8:51 AM UTC

Given the ever clearer fall-out from the conflict in the Gulf, it was hardly a surprise of even tighter credit standards (Figure 1), thereby merely accentuating trends in the four previous Bank Lending Surveys (BLS).  At least as far as firms and especially consumers seeking credit are concerned, t

Chart USD/CHF Update: Edging higher
Paying Article

April 28, 2026 8:08 AM UTC

Cautious trade around 0.7850 has given way to a push higher

Chart USD Index DXY Update: Back in range
Paying Article

April 28, 2026 7:52 AM UTC

The break below 98.50 has bounced from 98.20~

Chart EUR/USD Update: Under pressure
Paying Article

April 28, 2026 7:43 AM UTC

Cautious trade has been pushed back from 1.1760

Chart GBP/USD Update: Leaning lower
Freemium Article

April 28, 2026 7:34 AM UTC

The anticipated test above congestion resistance at 1.3550 has been pushed back from 1.3575

Psychology for major markets Apr 28
Paying Article

April 28, 2026 7:13 AM UTC

BOJ Holds

FX Daily Strategy: Europe, April 28th
Paying Article

April 28, 2026 4:58 AM UTC

BoJ Hold 6-3
Could See Support for the JPY 
Else Geopolitics Dominate 

USD/JPY flows: BoJ Hold with 6-3 Vote
Paying Article

April 28, 2026 3:49 AM UTC

BoJ Kept Rates Unchanged at 0.75%

AUD/USD flows: Nothing concrete
Paying Article

April 28, 2026 2:34 AM UTC

Trump skeptical of Iran's negotiation offer

Chart GBP/USD Update: Scope to extend bounce from 1.3450 support
Freemium Article

April 28, 2026 1:34 AM UTC

Extend bounce from the 1.3450 low to reach 1.3575 high before settling back in consolidation

Chart EUR/USD Update: Consolidating, room for higher later
Paying Article

April 28, 2026 1:22 AM UTC

Turned up from the 1.1670 low of last week as prices consolidate losses from the 1.1850, 17 April high