| Today's Economy
Economic Roundup: Fed Talked the Talk, Walked the Walk No surprises as Fed hikes by 50 basis points and announces balance sheet runoff. LatAm Daily Briefing: Traveling to Latin America The region stands to benefit from the tourism revival, but some negative perceptions linger. Capital Market View: U.S. Q2 GDP Looks to Bounce Back Our initial tracking estimate has GDP rising 2.2% at an annualized rate. Europe Daily Briefing: Euro Zone Composite PMI Gains on Services The services index lifts the composite in April. » VIEW MORE TODAY'S ECONOMY
Commentary
In Monetary Policy, One Size Does Not Fit All The Federal Reserve’s hawkish posture is warranted but carries added costs for some U.S. regions. U.S. Inflation Tracker: Fuel on the Fire Oil and gas prices have been elevated and volatile throughout the spring, a script that will hold over the next few weeks. Australian Used-Vehicle First-Quarter Price Report: Unrelenting Supply-Chain Pressure A buoyant economy fuelled demand. U.S. Chartbook: ECI, Not GDP, Matters Most for the Fed The Fed likely paid more attention to continued strength in the ECI, rather than the drop in GDP. » VIEW MORE COMMENTARY
Today's Economic Indicators
Euro Zone
Retail Sales
Mar. 2022: -0.4% m/m
Euro Zone retail sales in March suffered from the immediate consequences of the Russian invasion of Ukraine, contracting 0.4% m/m on a seasonally adjusted basis. United States
MBA Mortgage Applications Survey
April 29: 2.5%
Mortgage application volume inched up this week, after dropping sharply in recent months. United States
ADP National Employment Report
Apr. 2022: 247,000 m/m, ths
The labor market recovery is slowing as the economy is approaching full employment and hiring remains difficult. Canada
International Merchandise Trade
Mar. 2022: C$ 2.49 bil
Trade activity increased significantly in March, though imports outgained exports, shrinking Canada's merchandise trade balance. United States
International Trade (FT900)
Mar. 2022: -$109.8 bil
The U.S. nominal trade deficit widened more than anticipated in March, highlighting the enormous drag on first-quarter GDP. United States
ISM Nonmanufacturing Index
Apr. 2022: 57.1
The U.S. nonmanufacturing sector expanded in April, but the breadth of growth was moderately narrower than in the prior month. United States
Moody's Analytics Inflation Expectations Pulse
May 01: 2.37%
Inflation expectations edged higher in the week ended May 1, 2022, according to the Moody’s Analytics Inflation Expectations Pulse. United States
Moody’s Analytics Policy Uncertainty Index
April 29:
Australia
Datium Insights - Moody’s Analytics Used Vehicle Price Index
Apr. 2022: 19.4% y/y
Australian used-vehicle price appreciation accelerated again in April. United States
Oil Inventories
April 29: 415.7 mil barrels
A surprise build in oil inventories last week should put some modest downward pressure on prices. Uruguay
Consumer Price Index
Apr. 2022: 9.4% y/y
Inflation in Uruguay remained high after growing 9.4% y/y in April, similar to the gain in the previous month. United States
FOMC Monetary Policy
May. 2022: 0.75% to 1%
The front-loading of interest rate hikes by the Federal Open Market Committee has begun, and this won’t be the last aggressive hike by the central bank, as it is behind the curve on inflation. Brazil
Monetary Policy
May. 2022: 11.8%
Philippines
Consumer Price Index
Apr. 2022:
Australia
Foreign Trade
Mar. 2022:
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