Inflation falls in Dallas Fed measure Annualized trimmed mean inflation was 1.7% in February, down from 2.8% in January, according to the Dallas Fed. This measure has a few fans in the FOMC.
Rebounds in the latest report. The Atlanta Fed GDPNow estimate for first-quarter GDP growth jumped to 2.4% from 1.8% reported last Friday. In their own words:
USD/CAD down 40 pips in a quick move I’m looking around for NAFTA headlines or any reason behind it. It could be month-end flows into the fix. I wrote earlier this week about the for the Canadian dollar in April.
The final reading on consumer sentiment from the University of Michigan – was 102.0 – was 99.7 – Highest reading since 2004 – Current conditions 121.2 vs 122.8 prelim The survey blamed the dip from the prelim number on trade worries.
March 2018 Chicago PMI survey highlights – Lowest in more than a year – was 62.0 – Employment improved – New orders lower – Prices paid increased – Production lower That’s a big, surprising drop. The market is taking it in stride because it’s still well-above 50 and had been at extremely high levels.
Amazon flat after being up 1.6% Trump has wanted to pick a fight with Amazon forever and he decided to step it up today in a week where tech is struggling. What he doesn’t seem to understand is that Amazon actually subsidizes the postal system.
Canada January GDP data now out 29 March – 0.2% prev rom 0.1% – yy 2.7% vs 2.9% exp vs 3.4% prev from 3.3% Soggy headlines but tempered by better revisions. Still a disappointing report and I’m sure our man in Canada will have something to say on it in due course. First decline since…
The continuing claims 1871K vs 1870K expected. The US initial jobless claims for the week of March 24th came in better than expected at 215K. Benchmark revisions were also released today to the data.
Highlights of the February 2018 PCE report – was +1.5% y/y – Core PCE +0.2% m/m vs +0.2% m/m expected – Prior m/m +0.3% (unrevised) – Deflator +1.8% y/y vs +1.7% expected Very close to expectations except the headline, which is a bit bullish for the US dollar.
Carolyn Fairbairn is head of the UK business group Confederation of British Industry (CBI) She was interviewed on telly over the weekend (ITV) – said there was a “lack of clarity” surrounding ongoing talks about the future of UK-EU trade Fairbairn will also speak on Monday at Warwick University. Copyright 2015 Forexlive.com