Daily Market Insight

• U.S. goods trade deficit narrows sharply in March; retail inventories rise • Germany expects deficit of 4.25%/GDP in 2023 • Thai March export fall less than expected, value at a year high • Oil drifts higher after wiping out all OPEC-driven gains

• US consumer confidence falls to 9-month low in April • UK grocery inflation eases slightly to 17.3% in April • Japan’s business services inflation hits 8-year high in fiscal 2022 • Dollar, yen buoyed as US banking sector fears put safe-havens back in vogue

• US bank deposits, loans ticked down in latest week • German business sentiment improves slightly in April • South Korea ducks Q1 recession as consumer spending supports GDP • Dollar slides as rate cuts priced in; yen falls ahead of BOJ meeting

• U.S. business activity in April touches 11-month high • UK economy shows signs of recovery despite inflation’s drag • Japan's factory activity shrinks at slowest pace in six months • Oil prices slide on uncertainty over global economic outlook, rate hikes

• UK consumer confidence highest since Feb 2022 as 'green shoots' emerge • German producer prices rise less than expected in March • Japan CPI inflation remains sticky in March as BOJ meeting looms • Asia FX dips, dollar steady on fears of Fed hikes, slowing growth

• Core euro zone inflation edges up in March, keeping ECB on alert • UK records western Europe's highest inflation as March fall disappoints • Japan March export growth slows, annual trade deficit widens to record • Oil extends losses on fears of rising rates, slowing economic growth

• US housing market stabilizing as single-family homebuilding, permits surge • Strong UK pay growth boosts chance of Bank of England rate rise • J.P.Morgan, Citi upgrade China's 2023 full-year GDP growth forecast • Dollar slips after upbeat China data; euro, pound rise

• Weak retail sales, manufacturing output data point to slowing US economy • Chinese economic recovery on track as Q1 GDP beats estimates • Singapore March exports fall 8.3% y/y, drop less than forecast • Dollar gains after strong New York factory survey

• US consumer sentiment edges up in April; short-term inflation expectations rise • China March new home prices rise at fastest pace in 21 months • Singapore economy slows more than expected in Q1 • Oil prices dip as dollar firms, Chinese data deluge in focus

• Yellen says vigilant to downside economic risks, but don't 'overdo the negativism’ • Euro zone investor morale improves in April • Japan March wholesale inflation slows for 3rd straight month • Gold pushes further past $2,000 as Fed’s Kashkari flags recession