Date | 1:05am | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | ||
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1:05am | Actual | |||||||||
Thu May 2 | ||||||||||
Thu May 2 | 12:59am | JPY | Consumer Confidence | 38.3 | 39.7 | 39.5 | ||||
2:30am | CHF | CPI m/m | 0.1% | 0.0% | ||||||
CHF | Retail Sales y/y | 0.2% | -0.2% | |||||||
3:15am | EUR | Spanish Manufacturing PMI | 51.3 | 51.4 | ||||||
3:30am | CHF | Manufacturing PMI | 45.5 | 45.2 | ||||||
3:45am | EUR | Italian Manufacturing PMI | 50.3 | 50.4 | ||||||
3:50am | EUR | French Final Manufacturing PMI | 44.9 | 44.9 | ||||||
3:55am | EUR | German Final Manufacturing PMI | 42.2 | 42.2 | ||||||
4:00am | EUR | Final Manufacturing PMI | 45.6 | 45.6 | ||||||
Tentative | EUR | French 10-y Bond Auction | 2.87|1.9 | |||||||
7:30am | USD | Challenger Job Cuts y/y | 0.7% | |||||||
8:30am | CAD | Trade Balance | 1.1B | 1.4B | ||||||
USD | Unemployment Claims | 212K | 207K | |||||||
USD | Prelim Nonfarm Productivity q/q | 0.8% | 3.2% | |||||||
USD | Prelim Unit Labor Costs q/q | 3.6% | 0.4% | |||||||
USD | Trade Balance | -69.5B | -68.9B | |||||||
8:45am | CAD | BOC Gov Macklem Speaks | ||||||||
10:00am | USD | Factory Orders m/m | 1.6% | 1.4% | ||||||
10:30am | USD | Natural Gas Storage | 68B | 92B | ||||||
All Day | JPY | Bank Holiday | ||||||||
All Day | CNY | Bank Holiday |
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Recent indicators suggest that economic activity has continued to expand at a solid pace. Job gains have remained strong, and the unemployment rate has remained low. Inflation has eased over the past year but remains elevated. In recent months, there has been a lack of further progress toward the Committee's 2 percent inflation objective. The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. The Committee judges that the risks to achieving its employment and inflation goals have moved toward better balance over the past year. The economic outlook is uncertain, and the Committee remains highly attentive to inflation risks. In support of its goals, the Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent. In considering any adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent. In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage‑backed securities. Beginning in June, the Committee will slow the pace of decline of its securities holdings by reducing the monthly redemption cap on Treasury securities from $60 billion to $25 billion. The Committee will maintain the monthly redemption cap on agency debt and agency mortgage‑backed securities at $35 billion and will reinvest any principal payments in excess of this cap into Treasury securities. The Committee is strongly committed to returning inflation to its 2 percent objective. In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's goals. The Committee's assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation e post: FOMC STATEMENT COMPARE pic.twitter.com/eNQfsvqMI8 post: FED VOTE IN FAVOR OF POLICY WAS UNANIMOUS. post: *FED HOLDS BENCHMARK RATE IN 5.25%-5.5% TARGET RANGE *FED: LACK OF FURTHER PROGRESS TOWARD 2% GOAL IN RECENT MONTHS post: THE FED DOES NOT EXPECT IT WILL BE APPROPRIATE TO CUT RATES UNTIL IT HAS GAINED GREATER CONFIDENCE INFLATION IS MOVING SUSTAINABLY TOWARD 2%.
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post: FED'S POWELL: A RISE IN UNEMPLOYMENT WOULD HAVE TO BE MEANINGFUL FOR US TO REACT. post: Powell: "A couple tenths" of an increase in the unemployment rate doesn't count as an "unexpected weakening" in the labor market that would justify cuts.
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post: USD/JPY slammed lower https://t.co/5Z6qJTXa4k USDJPY falls below 100 hour MA and runs lower. The USDJPY broke below the 100-day moving average and scooted all the way down to the 200-hour moving average at 155.98. The price moved below that moving average on its way to a low price of 155.793 before bouncing back to the upside. Recall from Monday's trade after the intervention, the price also moved below its 200 hour MA on 4 separate hourly bars, only to fail on each of the separate hourly bar breaks. Can the price NOW stay below that moving average and probe lower? That is the question for traders. The 50% midpoint of the April trading range is now the next target at 155.50. Move below that level opens the door for more downside momentum as more liquidation can be anticipated. post: USDJPY < 155, down 250 pips in this latest intervention
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post: FED'S POWELL: THE SIGNAL WE ARE TAKING IS THAT IT WILL TAKE LONGER TO GET ON A SUSTAINABLE PATH TO 2% INFLATION. post: FED'S POWELL: SINCE DECEMBER, WE HAVE HAD HIGHER GOODS AND HOUSING INFLATION THAN EXPECTED. post: FED'S POWELL: MY EXPECTATION IS WE WILL SEE INFLATION MOVE BACK DOWN THIS YEAR. post: ?*POWELL:LESS CONFIDENT THAN BEFORE THAT 2024 INFLATION WILL EASE post: POWELL: ECONOMY HAS BEEN VERY HARD FOR FORECASTERS TO PREDICT
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post: FED'S POWELL: IF INFLATION PROVES MORE PERSISTENT AND LABOR MARKET REMAINS STRONG, THEN IT COULD BE APPROPRIATE TO HOLD OFF ON RATE CUTS. post: POWELL: AN UNEXPECTED WEAKENING IN LABOR MARKET COULD SPUR RATE CUTS post: POWELL: INCOMING INFLATION DATA WILL BE AT THE VERY HEART OF THAT DECISION post: FED'S POWELL Q&A: IF INFLATION JUST MOVES 'SIDEWAYS' THEN WOULD 'HOLD OFF' ON RATE CUTS; BUT COULD MOVE OTHER WAY; ALSO ECONOMY COULD WEAKEN AND THAT COULD INFLUENCE POLICY #Powell #FOMC #FederalReserve #rates #economy post: FED'S POWELL: THERE'S NOT AN OBVIOUS CONNECTION BETWEEN EASING IN FINANCIAL CONDITIONS AND INFLATION.