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April 23, 2026
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
April 22, 2026
Bank of Canada Preview for April 29: No hawkish shift from energy price shock
April 22, 2026 5:28 PM UTC
The Bank of Canada meets on April 29 and looks set to leave rates unchanged at 2.25%. A quarterly Monetary Policy Report is due but given uncertainty the BoC may deliver a range of scenarios rather than an updated forecast. Despite the upside risks to overall inflation, recent subdued economic activ
FOMC Preview for April 29: Uncertainty keeping the Fed on hold
April 22, 2026 2:29 PM UTC
The FOMC meets on April 29 and there is little risk of a change in rates from the current target range of 3.5-3.75%. High uncertainty, both on the geopolitical situation and the future of the Fed, suggests there will be little forward guidance, and the dots will not be updated until the next meeting
Preview: Due April 23 - U.S. April S and P PMIs - Slightly firmer despite Middle East risk
April 22, 2026 12:33 PM UTC
We expect modest increases in April’s S and P PMIs, manufacturing to a healthy 52.5 from 52.3 and services to a neutral 50.0 after March’s 49.8 fell below neutral for the first time since January 2023.