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May 6, 2024 12:00 AM UTC
EMERGING ASIA
EM currencies perform mostly stronger against the USD as the greenback slipped on weaker than expected payroll data. KRW saw the largest gains of 0.94%, followed by IDR 0.63%, THB 0.43%, SGD 0.39%, TWD 0.36%, MYR 0.34%, PHP 0.31%, CNH 0.19%, INR 0.04% and HKD 0.02%.
USD/CNH is trading lo
May 3, 2024 2:24 PM UTC
April’s ISM services index of 49.4 from 51.4 has fallen below neutral for the first time since December 2022. That dip was explained by bad weather. There is no obvious erratic factor here to explain the weakness, but the details suggests that weakness may be overstated.
May 3, 2024 2:14 PM UTC
Bottom Line: According to the figures announced by the Russian Ministry of Economic Development, Russia's GDP grew by 4.2% YoY in March owing to strong fiscal stimulus, high military spending, invigorating consumer demand and investments. We now foresee Russian economy will expand by 2.6% in 2024
May 3, 2024 1:18 PM UTC
April’s non-farm payroll is on the low side of consensus across the board, with a 175k increase (though the 167k private sector rise is only modestly below consensus), with a 0.2% rise in average hourly earnings, a fall in the workweek and a rise in unemployment to 3.9% from 3.8%. The data should
May 3, 2024 10:33 AM UTC
Indonesia’s consumer price inflation eased marginally to 3% yr/yr in April on the back of declining food prices. Despite the easing, food price remain the key inflationary factor. Additionally, imported inflation as the IDR comes under pressure could keep inflation elevated in the near term. Bank