LATEST STOCK MARKET NEWS

On Monday morning, the US dollar consolidated last week’s gains, while crude oil slid further and equities inched higher. On a trade-weighted basis, the buck rose more than 1% last week and reversed the negative momentum in which it was stuck for the last of months, thanks to a continuous surge in US treasury yields. Looking ahead to this week, there are many economic data releases. The show will start today with the Fed’s favourite gauge of inflation, the core PCE. Headline personal consumption expenditure is expected to have slightly accelerated in March, with median forecast at 2%y/y compared to 1.8% in the previous month. The core measure should print at 1.9% versus 1.6% in February. Personal income and spending should both come in at 0.4%m/m. An upside surprise in the former could definitely trigger another USD rally as it would send a positive signal about the US economic outlook and especially growth and inflation.

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