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May 13, 2024 12:00 AM UTC
EMERGING ASIA
EM currencies perform individually against the USD as the greenback reversed earlier losses on more hawkish market sentiment. THB saw the largest gains of 0.59%, followed by KRW 0.14%, TWD 0.12%, MYR 0.03% and INR & HKD 0.01%; the biggest losers are CNH & SGD 0.16% CNY 0.1% and IDR 0.08
May 10, 2024 2:44 PM UTC
April CPI will be closely watched as the last CPI release before the June 5 Bank of Canada meeting. We expect the yr/yr pace to be unchanged from January at 2.9% which was also the pace in January before February saw a brief dip to 2.8%. However we expect continued steady downward progress in the Bo
May 10, 2024 2:12 PM UTC
May’s preliminary Michigan CSI of 67.4 from 77.2 is the weakest since November 2023 and hints at a loss of momentum in the economy, but with higher inflation expectations, the 1-year view up significantly to 3.5% from 3.2% and the 5-10 year view up marginally to 3.1% from 3.0%.
May 10, 2024 1:06 PM UTC
Fed easing expectations for 2025 and 2026 can shift from a terminal 4% Fed Funds rate towards 3%, as the U.S. economy slows due to lagged tightening effects. Combined with Fed easing starting in September this should mean a consistent decline in 2yr yields. However, 10yr U.S. Treasury yields wil
May 10, 2024 12:58 PM UTC
Canada’s 90.4k increase in April employment is well above expectations and raises doubt over the case for a June rate cut, this being the last employment report the Bank of Canada will see before its June 5 meeting. Unemployment was unchanged at 6.1% but wage growth (hourly wage fir permanent empl
May 10, 2024 12:44 PM UTC
Banxico's decision to maintain the policy rate at 11% reflects a cautious stance amidst rising inflation and a slowing economy. Despite external volatility, the MXN remains resilient. The main concern is services inflation being stickier. With a revised inflation forecast indicating a longer period
May 10, 2024 9:24 AM UTC
In its latest decision, the Monetary Policy Committee (MPC) of Bank Negara Malaysia (BNM) opted to keep the overnight policy rate (OPR) steady at 3.0%, marking the seventh consecutive meeting without a change. This decision aligns with market projections and underscores BNM's commitment to support g
May 10, 2024 6:26 AM UTC
The economy may have been in only mild recession in H2 last year, but the ‘recovery’ now evident is much clearer than any expected with GDP growth notably positive. Indeed, coming in more than expected, and despite industrial action, GDP rose by 0.4% m/m in March accentuating the upgraded boun