Richmond Federal Reserve Bank President Tom Barkin told Reuters on Wednesday that he does not see inflation expectations at the risk of breaking out.
United States Retail Sales (YoY) increased to 3.7% in February from previous 3.2%
United States Retail Sales ex Autos (MoM) above forecasts (0.3%) in February: Actual (0.5%)
United States Retail Sales Control Group increased to 0.5% in February from previous 0.3%
United States Retail Sales (MoM) registered at 0.6% above expectations (0.5%) in February
United States ADP Employment Change above expectations (40K) in March: Actual (62K)
Gold (XAU/USD) appreciates for the fourth consecutive day on Thursday. The US Dollar (USD) tumbles as hopes of a quick end to the Iran war have improved risk appetite and triggered significant pullbacks in US Treasury yields.
HSBC’s global CIO team keeps an Overweight six‑month view on global equities, supported by AI‑related opportunities and resilient earnings. They favour the United States, Japan and Asia ex‑Japan, while staying Underweight Europe ex‑UK and Neutral on Emerging Markets overall.
Private employers added 62K jobs in March, the Automatic Data Processing (ADP) reported on Wednesday. This reading followed the 66K increase (revised from 63K) recorded in the previous month and came in above the market expectation of 40K growth.
ING economist Min Joo Kang notes that Japanese business sentiment remains relatively firm, with the Tankan Survey and Manufacturing PMI both in expansionary territory.
BNY’s Head of Markets Macro Strategy Bob Savage highlights a sharp pullback in Brent and WTI as markets price a possible end to the Iran conflict within weeks, even as the Strait of Hormuz remains effectively closed.
West Texas Intermediate (WTI), futures on NYMEX, claws back half of its early losses during the European trading session on Wednesday. Still, the oil price is down 1.5% to near $96.00.
