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May 27, 2024 12:00 AM UTC
EMERGING ASIA
EM currencies perform mostly weaker against the USD as the greenback remains solid in earlier Asia session before slipping the the London and New York session. KRW saw the largest losses of 0.52%, followed by THB 0.44%, MYR 0.16%, PHP 0.10%, TWD 0.08%, CNH and HKD 0.05%, CNY 0.01%; the
May 24, 2024 9:24 PM UTC
Banxico maintained the policy rate at 11%, reflecting a cautious stance amid persistent inflation and economic uncertainty. The board was unanimous in this decision but divided on the timing of future cuts. Despite expectations for a rebound in economic activity, concerns about inflationary pressure
May 24, 2024 2:21 PM UTC
May’s preliminary Michigan CSI showed a substantial fall in confidence and a significant rise in inflation expectations. The final data shows a slightly smaller fall in confidence and less evidence of rising inflation expectations.
May 24, 2024 1:26 PM UTC
Canada’s 0.2% decline in March retail sales was a little weaker than the preliminary unchanged estimate given with February’s report, and the detail looks weaker still, with sales down by 0.6% ex autos and overall sales down by 0.4% in real terms. The preliminary signal for April however is po
May 24, 2024 12:58 PM UTC
April durable goods orders are stronger than expected, and while the gains of 0.7% overall and 0.4% ex transport are moderate, they are a little above recent trend. While the overall rise came fully on defense, gains in non-defense capital ex aircraft orders of 0.3% and shipments of 0.4% suggest bus
May 24, 2024 7:05 AM UTC
Ending an interesting week of UK data, retail sales slumped in April, partly due to what was a wet month. Notably, sales volumes fell by 2.3% m/m following a broadly flat February and March 2024 and were down by 2.7% y/y and 3.8% below their pre-pandemic level. This weaker-than-expected outcome
May 24, 2024 12:00 AM UTC
EMERGING ASIA
EM currencies perform mostly weaker against the USD as the greenback is gained further traction after stronger PMI data. THB saw the largest losses of 0.57%, followed by MYR 0.15%, PHP 0.12%, SGD 0.07%, CNH 0.05%, CNY and HKD 0.02%; the only winners are TWD 0.14% and KRW 0.04%.
USD/CNH i
May 23, 2024 7:30 PM UTC
Bottom Line: As predictions were centred around no change, Central Bank of Turkiye (CBRT) kept the policy rate stable at 50% on May 23 despite galloping inflation which edged up to 69.8% in April, up from 68.5% in March. CBRT said in a statement on May 23 that "(...)considering the lagged effects of
May 23, 2024 2:18 PM UTC
April new home sales at 634k are weaker than expected, with March’s unexpectedly strong 693k outcome revised down to 665k, with April down 4.7% after a revised 5.4% March increase. While the decline does not fully reverse March’s increase housing data mostly is suggesting a loss of momentum.