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April 23, 2026
Preview: Due May 5 - U.S. April ISM Services - March new orders imply underlying strength persists
April 23, 2026 5:00 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 1 - U.S. April ISM Manufacturing - Highest composite and prices paid since 2022
April 23, 2026 2:23 PM UTC
Despite risks coming from the Middle East, we expect April’s ISM manufacturing index to increase to 53.5 from 52.7, delivering a fourth straight clearly positive reading and the highest level since June 2022.
U.S. April S&P PMIs - Manufacturing stronger still, Services less weak
April 23, 2026 2:01 PM UTC
April’s preliminary S and P PMIs are improved with manufacturing at 54.0 from 52.3 to reach its highest since May 2022. Services at 51.3 picked up from March’s weak 49.8, seeing the composite up to 52.0 from 50.3.
ECB Preview (Apr 30): Real Economy Buckling Already!
April 23, 2026 12:21 PM UTC
We again expect no change from the ECB on Apr 30, but President Lagarde will probably have to admit in the Q&A that unlike last time the decision was not unanimous. Overall, the communication will again suggest upside risks for inflation and downside risks for economic growth the extent and durati
South Africa Inflation Hit 3.1% y/y in March but Pressures Signal Looming Spike
April 23, 2026 10:40 AM UTC
Bottom Line: Following the decline in headline inflation to 3.0% y/y in February, South Africa’s inflation rose to 3.1% y/y in March. On a monthly basis, prices increased by 0.6% and the main drivers behind the rise were housing, utilities and financial services. The surge was driven by a combinat
CBRT Kept Key Rate Constant at 37% Due to Inflationary Risks
April 23, 2026 9:46 AM UTC
Bottom Line: Central Bank of Turkiye (CBRT) held the policy rate constant at 37% during the MPC meeting on April 22 due to inflationary risks as the economy remains under pressure from Iran war, which sparked a surge in energy, transportation and agricultural input costs. We think fragile cease-fire