U.S. Review
A Few Hints That Weather Effects Are Fading
- Industrial production bounced back a sizable 0.6 percent in February after posting a 0.2 percent decline in January.
- Consumer prices rose a slight 0.1 percent in February, as energy prices pulled back on the month. The CPI is now up just 1.1 percent over last year's level.
- Housing market data began to hint at some fading effects of the severe winter weather. While housing starts fell again in February, building permit activity posted a 7.7 percent increase for the month. Existing home sales declined slightly in February; however, the pullback was far from the 5.1 percent decline in sales observed in January
Global Review
Monetary Policy Considerations in Europe
- Revised data released this week indicate that CPI inflation in the Eurozone slowed to the most tepid pace since 2009. In this week's Global Review, we discuss what that means for ECB monetary policy.
- Additional insights into European monetary policy were revealed in this week's release of the minutes from the Bank of England meeting, which occurred earlier this month.
- Finally, we look at a disappointing trade report in Japan and what that means for economic growth.
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Editors’ Picks
AUD/USD extends gains due to improved risk appetite
The Australian Dollar maintained its winning streak for the fourth consecutive session on Monday, buoyed by a hawkish sentiment surrounding the Reserve Bank of Australia. This optimism bolsters the strength of the Aussie Dollar, providing support to the AUD/USD pair.
EUR/USD holds positive ground above 1.0750 ahead of Eurozone PMI, PPI data
The EUR/USD trades in positive territory for the fourth consecutive day near 1.0765 on Monday during the early Asian trading hours. The softer US Dollar provides some support to the major pair.
Gold holds below $2,300, Fedspeak eyed
Gold price loses its recovery momentum around $2,295 on Monday during the early Asian session. Investors will keep an eye on Fedspeaks this week, along with the first reading of the US Michigan Consumer Sentiment Index for May on Friday.
Bitcoin Cash could become a Cardano partnerchain as 66% of 11.3K voters say “Aye”
Bitcoin Cash is the current mania in the Cardano ecosystem following a proposal by the network’s executive inviting the public to vote on X, about a possible integration.
Week ahead: BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.