But the poll forecast for the US dollar latest Reuters – greenback to weaken in a year – euro at 1.28 – expectations were similar to predictions made in a March poll More from commentary on the poll from Reuters
Sterling forecasts from the most (April 3-5 ) recently conducted Reuters poll – 12-month forecast was up – outlook was for cable to be at $1.44 this time next year. Says Reuters:
Inflation adjusted wages fell again, but not as much as expected (try that excuse on workers!) Labor Cash earnings +1.3% y/y – expected 0.5% y/y, prior 1.2%, revised from 0.7% Real Cash earnings -0.5% y/y
A response to the US President’s latest in the trade war (additional $100bn in tariffs on Chinese imports) This from SBI Securities in Tokyo (via Bloomberg)
US President Trump has proposed an additional (yes, more) $100bn of tariffs on imports from China: So far we have had no response from China. It is still early there so perhaps that isn’t surprising, but also be aware that its a holiday in China today, through until Monday, for Qingming festival … so maybe we…
OK, GBP/USD gets the “WTF?” award for the day I reckon While we are all going crazy: Trashing AUD, buying yen, trashing stock indices … buying gold … and what have you
Just noting this, the much bigger market moving news is: Anyway … the data for those tracking: Overall h’hold spending for March -1% y/y, …biggest drop since April of 2017
US is willing to negotiate with China on trade but only if it’s serious because previous attempts have produced little progress Reuters citing : Senior US official tells Reuters
Today’s wages data highlights how far Japan’s central bank is away from its 2% inflation target Eamonn had the data release earlier. After adjusting for inflation, wages fell for a third consecutive month – suggesting that wages are struggling to keep up with inflationary pressures.
S&P 500 futures parring back some of the losses earlier It’s still a bad one, as US equity futures are still down by almost 1% on the day. S&P 500 futures fell to as low as 1.5% earlier but is finding a base – at least for now.