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April 17, 2025
USD flows: Trump said looking for a new Fed Chairman
April 17, 2025 7:14 PM UTC
The USD is a touch weaker after the WSJ reported Trump has spoken with former Fed Governor Kevin Warsh about replacing current Fed Chairman Powell, though it appears Warsh is not interested. If Trump persists in his search, he will have trouble finding someone who will have the market’s trust.
Preview: Due April 30 - U.S. February Personal Income and Spending - Core PCE Prices to match weak Core CPI
April 17, 2025 3:47 PM UTC
March’s personal income and spending report will be largely old news by the time of the release, with Q1 totals due with the GDP report 90 minutes earlier. We expect a subdued 0.1% increase in the core PCE price index, a subdued 0.2% rise in personal income, but a strong 0.8% increase in personal
FX Weekly Strategy: April 21st-25th
April 17, 2025 2:52 PM UTC
Markets to continue to react to implications of US tariffs
USD to remain under pressure as overweight positions are trimmed
Downside risks to PMI data suggest safe havens to be preferred…
…but some currencies can still recover from extreme levels triggered by the equity sell-off
U.S. Initial Claims low but Philly Fed plunges, mixed housing data
April 17, 2025 1:09 PM UTC
Initial jobless claims at 215k from 224k are at their lowest since February 8, and this release covers the survey week for April’s non-farm payroll. However, a Philly Fed manufacturing index of -26.6 suggests tariffs are hitting the regional manufacturing sector in April. March housing data is mix
April 16, 2025
Preview: Due April 17 - U.S. March Housing Starts and Permits - Flat trend, weather still supportive
April 16, 2025 4:40 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.