Source: New York Fed Business activity in New York surged in April to return to positive levels, following three straight months of sluggishness. NYF is down 0.26%, while QQQ is down 0.15% premarket. The general business conditions index stood at 24.6 points, up by 36.4 points from the -11.8 points in March.Some 40% of survey respondents said conditions have improved … [Read more...] about New York Manufacturing Picks up After Three Months of Sluggishness
Forex News
PBOC Cuts Bank’s Reserve Requirements as Growth Stalls
Source: Bloomberg China’s central bank has reduced its reserve requirements for most of its lenders by 25 basis points and 50% for smaller banks to cushion the slowing economy. CSI 300 is down -0.67%, USDCNY is down -0.10%. The change is expected to become effective on April 25, generating around 530 billion yuan or $83 billion of liquidity to the economy.Officials … [Read more...] about PBOC Cuts Bank’s Reserve Requirements as Growth Stalls
US Consumer Sentiment Improves by 10.6% In April as Optimism Crawls Back
Source: University of Michigan The Index of Consumer Sentiment in the US was reported at 65.7 in early April, improving by 10.6% from the previous month. SPY is down -0.63%, DXY is up +0.50%. The consumer sentiment gauge was still 25.6% lower than the prior year and remained below the reading in January this year. Consumers also became more upbeat about the current … [Read more...] about US Consumer Sentiment Improves by 10.6% In April as Optimism Crawls Back
US Import, Export Prices Surge to Historic Highs in March
Source: Bureau of Labor Statistics Import and export prices of the United States both posted double-digit annual growth in March, marking historic highs. QQQ is down 1.10%, while SPY is down 0.33%. Import prices for the month increased by 2.6% from February, marking the biggest monthly increase since April 2011.Annual import price growth was recorded at 12.5%, the biggest … [Read more...] about US Import, Export Prices Surge to Historic Highs in March
US Retail Sales Rise by 0.5% in March as Gasoline Prices Soar
Source: Census Bureau Retail and food services sales in the US were valued at $665.7 billion in March, an increase of 0.5% from the previous month. SPY is down -0.46%, DXY is up +0.84%. The surge in retail sales in March was largely attributed to higher spending due to inflationary pressures, especially gasoline, which saw an 8.9% jump.Excluding motor vehicles and … [Read more...] about US Retail Sales Rise by 0.5% in March as Gasoline Prices Soar
