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Vietnam's Inflation Accelerates to 5.46% in April

Vietnam's consumer price index (CPI) rose 5.46% year on year in April, faster than the 4.65% growth in the previous month, according to data from the country's General Statistics Office on Monday.Monthly, the CPI edged up 0.84%, the data showed.Core inflation, which excludes selected food and energy items, stood at 3.89% in April.In the first four months of 2026, the CPI rose 3.99% on average, compared with the same period last year.

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International5d ago

Vietnam's Industrial Production Growth Accelerates to 9.9% in April

Vietnam's industrial production index (IIP) rose 9.9% year on year in April, according to data from the country's General Statistics Office on Monday.The pace of growth accelerated from the 6.9% expansion in March.On a month-over-month basis, the index increased 3% in April from March, recovering from the 18.8% drop between February and March.By sector, manufacturing and processing output grew 10% year on year, while electricity production and distribution rose 10.9%.Mining output increased 7.6%, while water supply, waste management and treatment activities climbed 7.1%, the data showed.

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International5d ago

Total Number of Dwelling Approvals in Australia Falls in March

Seasonally adjusted data revealed that the total number of dwellings approved in Australia fell around 11% to 17,300 in March from 19,339 in the previous month, figures from the Australian Bureau of Statistics showed on Monday.Private sector housing approvals inched up 0.9% to 10,194 in March, while approvals for private sector dwellings excluding houses fell 26% to 6,632, according to the ABS data.Meanwhile, the value of total non-residential building approvals fell around 25% to AU$5.97 billion, and the value of total residential building approvals fell nearly 16% to AU$10.77 billion.

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International5d ago

South Korea's Manufacturing Sector Continues to Expand in April

South Korea's manufacturing sector continued to expand in April, with the seasonally adjusted headline S&P Global South Korea Manufacturing Purchasing Managers' Index increasing to 53.6 last month from 52.6 in March, S&P Global said in a Monday report.A reading above 50 indicates an overall increase compared with the previous month, and below 50 indicates a decline.April's expansion in the country's manufacturing sector was the strongest since February 2022.The ongoing tensions in the Middle East took a toll on manufacturing, with higher cost burdens being prevalent from the beginning of the second quarter. A surge in oil and fuel prices translated to higher raw material prices, which increased costs for end customers. Delivery delays and supply shortages were rampant during the month.In addition, average lead times for input deliveries also increased to the greatest extent since June 2022, due to higher raw material prices.Looking ahead, optimism was at its lowest in five months, amid the uncertainty over the length of the Middle East conflict and its effect on the supply chain and prices.

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International5d ago

Malaysia's Manufacturing Expands at Four-Year High as Prices Hit Record, S&P Global Says

Malaysia's manufacturing sector expanded at its fastest pace in four years in April, supported by stronger output and a return to growth in new orders, according to data released Monday by S&P Global.The S&P Global Malaysia Manufacturing Purchasing Managers' Index rose to 51.6 in April from 50.7 in March, marking a second straight month of expansion.Output grew at the fastest pace since December 2021, while new orders increased as firms and clients built safety stocks amid uncertainty linked to the Middle East war.Export orders declined for a second month, with firms citing weaker external demand tied to the conflict.Purchasing activity and employment increased, while supplier delivery times lengthened at the sharpest rate in nearly four years, leading to a further decline in pre-production inventories.Input costs rose to a 45-month high, driven by higher energy and material prices linked to the war, while selling prices increased at a record pace.Business confidence eased to an eight-month low, with firms citing uncertainty surrounding the Middle East conflict.

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International5d ago

Philippine Manufacturing Activity Contracts as Orders Fall, Costs Rise, S&P Global Says

The Philippines' manufacturing sector slipped into contraction in April as new orders fell sharply and cost pressures intensified, according to data released Monday by S&P Global.The S&P Global Philippines Manufacturing Purchasing Managers' Index fell to 48.3 in April from 51.3 in March, marking the first contraction since November.New orders declined at the fastest pace since August 2021, while export demand weakened further, with firms citing trade route disruptions and halted shipments.Production stalled, and firms cut employment and purchasing activity, drawing down inventories to meet output needs.Input costs rose at the fastest pace since December 2022, driven by higher energy and shipping costs linked to the Middle East war, prompting the sharpest increase in selling prices in 41 months.Supplier delivery times lengthened, while business confidence improved to a 17-month high on expectations of stronger demand ahead.

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International5d ago

Vietnam's Manufacturing Growth Slows as Costs Hit 15-Year High, S&P Global Says

Vietnam's manufacturing sector expanded at a slower pace in April as new orders fell and cost pressures surged, according to data released Monday by S&P Global.The S&P Global Vietnam Manufacturing PMI slipped to 50.5 in April from 51.2 in March, a seven-month low, signalling a tenth straight month of expansion but only marginal growth.New orders declined for the first time in eight months, with export orders falling for a second consecutive month amid higher transportation costs.Output continued to rise for the twelfth month, though growth eased to a ten-month low as rising costs, supply shortages, and market instability linked to the Middle East war weighed on activity.Input costs rose at the fastest pace in 15 years, driven by higher fuel, oil, and transportation costs, prompting firms to raise selling prices at the sharpest rate since April 2011.Firms cut employment, purchasing activity and inventories, while supplier delivery times lengthened sharply and business confidence weakened to a seven-month low

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International5d ago

Taiwan's Manufacturing Growth Accelerates in April as Costs Surge, S&P Global Says

Taiwan's manufacturing sector expanded at a faster pace in April as firms ramped up production and orders, while cost pressures intensified sharply, according to data released Monday by S&P Global.The S&P Global Taiwan Manufacturing Purchasing Managers' Index rose to 55.3 in April from 53.3 in March, marking the strongest improvement in business conditions since December 2021.Output grew at the second-fastest pace since June 2024, while new orders increased at the second-sharpest rate since July 2021, partly driven by stockpiling amid concerns over supply disruptions and rising prices.New export orders also rose strongly, supported by demand from the U.S., Europe, mainland China, Japan, and Southeast Asia.Firms stepped up purchasing activity at one of the fastest rates in nearly four-and-a-half years, while supplier delivery times lengthened at the fastest pace in just over four years.Input costs rose at the steepest pace in nearly five years, prompting firms to lift selling prices at the quickest rate since late 2021.Employment declined slightly, while business confidence eased to a three-month low, though firms remained optimistic about output growth, supported by expectations of stronger demand, particularly in AI-related sectors.

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International5d ago

Indonesia's Factory Activity Falls into Contraction as Costs Surge, S&P Global Says

Indonesia's manufacturing sector slipped into contraction in April as cost pressures intensified, according to data released Monday by S&P Global.The S&P Global Indonesia Manufacturing Purchasing Managers' Index fell to 49.1 in April from 50.1 in March, dropping below the 50 mark for the first time in nine months.Output declined for a second straight month, with the pace of contraction the fastest since May 2025, amid rising raw material prices, supply shortages, and weaker purchasing power.New orders edged up slightly, largely driven by advance buying to guard against further price increases and supply disruption, while new export orders fell.Input cost inflation rose to a four-year high, prompting firms to raise selling prices at the fastest pace since October 2013.Purchasing activity and employment both declined, while delivery times lengthened for a seventh consecutive month due to material shortages and delays linked to the Middle East conflict.Business confidence weakened to a five-month low, though firms remained optimistic about output over the next 12 months.

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International5d ago

Melbourne Institute's Monthly Inflation Gauge Rises in April

The Melbourne Institute said its monthly inflation gauge recorded another increase in April, mainly driven by higher recreation-related prices, largely due to rising airfares, the Institute said in a Monday report.The monthly cost of living also increased in April, especially for employees and self-funded retirees.Annual headline inflation stood at 4.3%, the report said.The gauge estimates month-to-month price movements for a wide-ranging basket of goods and services across the main capital cities of Australia.

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International8d ago

RBC Sees USD/CAD Range-Bound In Near Term, Gradual Decline Longer Term

RBC Capital Markets in its CAD Weekly Soundbites (Rates & FX) note on Friday said an "event-rich" week "largely came as expected", with a "steady fiscal profile", the Bank of Canada delivering a "modestly hawkish hold" and first-quarter GDP "continuing to track above potential".The bank said the BoC's hawkish tilt reinforces its view for a gradual decline in USD/CAD in the long term. However, it added that recent BoC and Federal Reserve meetings suggest both will be on hold in the short term, leaving a range-bound bias on USD/CAD.In its rates view, RBC said the expected BoC hold was delivered this week, but the balance of changes tilted hawkish. The BoC modestly upgraded its GDP profile, noted the expected absorption of excess slack and said the neutral range discussion was slanted higher, even though the 2.25%-3.25% range was left unchanged.RBC said it maintains its long-held view that the base case is the BoC on hold in 2026, with hikes in 2027, but added that the chance of second-half hikes far exceeds the chance of a cut.On foreign exchange, RBC said this week's marginally hawkish BoC tilt reinforces its longer-run view for a gradual move lower in USD/CAD into next year, partly conditional on the BoC shifting to hikes in 2027, with risk in the second half of 2026.However, in the near term, the bank said it continues to see the pair range-bound, as central bank meetings suggest the BoC and the Fed are likely to be on hold in the coming months, keeping US-Canada rate differentials relatively stable. That should continue to act as a floor under USD/CAD, with the 1.3500 area seen as the bottom of the range.RBC added that a weekly close below 1.3598 has reasserted the downtrend in USD/CAD and favours a re-test of this year's lows at 1.3526 and 1.3482."Below there, the September 2024 low at 1.3420 would come into view. Initial resistance is located at 1.3598 and 1.3661, followed by 1.3728, with rallies to the latter two levels viewed as a selling opportunity," said George Davis, chief technical strategist at RBC Capital Markets.

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International8d ago

US Equity Indexes Close Mixed as Earnings Lift Technology While Trump 'Not Happy' With Iran Peace Plan

US equity indexes were mixed on Friday as earnings helped lift technology and communication services, while President Donald Trump expressed displeasure with Iran's revised peace proposal.The Nasdaq Composite jumped 0.9% to 25,114.44, albeit off session highs. The S&P 500 rose 0.3% to 7,230.12, also retreating from intraday highs. Both indexes hit new records earlier in the session. The Dow Jones Industrial Average fell 0.3% to 49,499.27, giving up gains.All sectors except technology and consumer discretionary fell. Energy and materials led the decliners.Iran handed Washington a new proposal for ending the war, offering hints of compromise, The Wall Street Journal reported Friday. But the two sides remain far apart on substantive issues of reopening the Strait of Hormuz and Iran's nuclear program, people familiar with the matter told the WSJ."They want to make a deal, but I'm not satisfied with it," Trump told reporters at the White House, according to Bloomberg. "We just had a conversation with Iran. Let's see what happens. But I would say that I am not happy."Separately, Trump notified Congress on Friday that hostilities against Iran ended in April, reflected by an indefinite extension of the two-week ceasefire, allowing the White House to bypass a 60-day deadline for lawmakers to approve the war, according to the WSJ.West Texas Intermediate crude oil futures remained lower, down 3% to $102.07 late Friday. Brent crude futures were also lower by 2% to $108.45.In precious metals, gold futures slipped 0.1% to $4,623.7, while silver futures jumped 2.7% to $76.02.US Treasury yields were mixed, with the 10-year 1.6 basis points lower to 4.37%. The two-year yield was slightly higher at 3.89%.In company news, Apple (AAPL) jumped 3.2%, the Dow's second-biggest gainer, after the iPhone manufacturer overnight reported a year-over-year surge in fiscal Q2 earnings and revenue. Apple's board also raised its quarterly dividend and approved a share buyback program of up to $100 billion.In the final leg of trading, Oracle (ORCL), Intel (INTC), and Micron Technology (MU) led the outperformers among companies with a market capitalization of more than $200 billion, according to data compiled by Finviz. In the top 10 gainers from this category, half were either software or semiconductor companies.In economic news, the Atlanta Federal Reserve's Q2 gross domestic product Nowcast came in at 3.5%, down from 3.7% previously estimated.The Institute for Supply Management's US manufacturing index was unchanged in April at 52.7, below the 53.2 reading expected in a Bloomberg survey. The S&P Global US manufacturing index for April was revised upwards to 54.5 from the flash 54.0, compared with expectations for no revision in a Bloomberg-compiled survey.

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International8d ago

S&P 500, Nasdaq Climb to Records on Tech, Consumer Discretionary Gains

The S&P 500 and the Nasdaq Composite extended rallies to records, led by technology and consumer discretionary stocks, as crude oil prices fell.* The Dow Jones Industrial Average eased as other stock sectors declined.* Tehran delivered a new proposal to the US, while President Donald Trump vowed to maintain a naval blockade, Bloomberg reported.* The Institute for Supply Management's US manufacturing index was unchanged in April at 52.7, below the 53.2 reading projected in a Bloomberg survey.* The Atlanta Federal Reserve's Q2 gross domestic product Nowcast came in at 3.5%, down from 3.7% previously.* June West Texas Intermediate crude oil fell $2.91 to settle at $102.15 per barrel, while July Brent crude, the global benchmark, was last seen down $1.88 at $108.62.* Cboe Global Markets (CBOE) shares rose 9.1%, the biggest gain on the S&P, after the company posted higher Q1 adjusted earnings and revenue.* Clorox (CLX) shares fell 9.7%, the largest decline on the S&P, after the company lowered its fiscal 2026 adjusted EPS guidance.

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International8d ago

Canadian Dollar Rebounding, Targets USDCAD At 1.33, Scotiabank Says

Scotiabank said the Canadian dollar is rebounding from recent weakness, supported by seasonal factors and positioning, despite earlier pressure from risk aversion and a stronger US dollar. USD/CAD was last seen around 1.3612.The CAD's correlation with crude oil prices has been negative through the duration of the Iran conflict so far, the bank noted."Instead, the CAD's mediocre performance through late March when spot peaked just below 1.40 reflected risk aversion and the broader bid for the USD," said Shaun Osborne, chief FX strategist at Scotiabank."USDCAD became severely overvalued (by our estimate of short-term spot equilibrium) through early April. But the combination of a very cheap CAD, the willingness of USD hedgers to take full advantage of gains towards 1.40 to sell and CAD-bullish seasonality in April (consistently the CAD's strongest month of the year versus the USD since the 1970s) is driving a steady rebound in the CAD," added Osborne.Scotiabank continues to target a 1.33 spot rate by year-end.

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International8d ago

Scotiabank Sees Bank of Canada Rate Hikes, Flags Inflation Risks And CAD Impact

Scotiabank said it is doubling down on its forecast for the Bank of Canada to begin tightening monetary policy over the second half of the year, citing rising inflation risks and stronger economic drivers.From 2.25% at present, the bank said it thinks the policy rate will rise to 3% by year-end.Scotiabank Economics has forecast hikes by the end of 2026 since last November. One more was added in March in response to supply chain and commodity shocks related to the war with Iran."The BoC just opened the door wider to a rate change." It said "... if the economy evolves broadly in line with the base case, changes in the policy rate can be expected to be small." But in which direction?" the bank said in its latest foreign exchange outlook."A rate cut scenario that hinged upon higher US tariffs against Canada was presented. It lacks credibility in our view. One reason is that it would prompt excessive easing of financial conditions. With markets priced for 50-75bps of hikes this year, a 25bp cut would strike that out, add the cut, probably price 1-2 more, and result in short-term market rates plunging by 100bps or more," said Derek Holt, Head of Capital Markets Economics.The effect would tank the Canadian dollar, driving more import price pressures, said Holt adding that the bank remains "cautiously optimistic" toward trade negotiations."A hike scenario was also presented by the BoC and conditioned on higher-for-longer energy prices. Yet it's not just energy prices as evidenced by the BoC's own measure. Canada is importing higher incomes through higher prices for many of the products it sells with trickle down effects into domestic incomes and more resulting spending. Smaller deficits driving increased federal spending represent one such example equal to 1/2% of NGDP this year and 1/4% next year; the BoC's communications did not have time to incorporate this added fiscal stimulus that further merits higher rates. Inflation risk has pivoted higher," noted Holt.

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International8d ago

US Equity Indexes Mixed in Final Leg of Trading as Trump 'Not Happy' With Iran's Revised Peace Plan

US equity indexes were mixed ahead of Friday's close, as President Donald Trump expressed displeasure with Iran's revised peace proposal and earnings helped lift technology and communication services.The Nasdaq Composite jumped 1.1% to 25,158.2, with the S&P 500 up 0.5% to 7,244.4. Both indexes touched intraday record highs. The Dow Jones Industrial Average slipped less than 0.1% to 49,607.5, after trading higher earlier in the session.Iran handed Washington a new proposal for ending the war, offering hints of compromise, The Wall Street Journal reported Friday. But the two sides remain far apart on substantive issues of reopening the Strait of Hormuz and Iran's nuclear program, people familiar with the matter told the WSJ."They want to make a deal, but I'm not satisfied with it," Trump told reporters at the White House, according to Bloomberg. "We just had a conversation with Iran. Let's see what happens. But I would say that I am not happy."West Texas Intermediate crude oil futures remained lower, down 3% to $102.07 late Friday. Brent crude futures were also lower by 2% to $108.45.In company news, Apple (AAPL) jumped 3.3%, the Dow's second-biggest gainer, after the iPhone manufacturer overnight reported a year-over-year surge in fiscal Q2 earnings and revenue. Apple's board also raised its quarterly dividend and approved a share buyback program of up to $100 billion.In the final leg of trading, Oracle (ORCL), Intel (INTC), and Micron Technology (MU) led the outperformers among companies with a market capitalization of more than $200 billion, according to data compiled by Finviz. In the top 10 gainers from this category, half were either software or semiconductor companies.

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International8d ago

Daily Roundup of Key US Economic Data for May 1

The ISM manufacturing index held steady at 52.7 in April, with gains in the readings for new orders and prices and declines for production and employment.The S&P Global manufacturing PMI was revised higher to 54.5 in April from the flash estimate of 54.0 and above the 52.3 reading in March.The Q2 GDP nowcast estimate from the Atlanta Fed is for a 3.5% gain, down from the previous estimate of a 3.7%.

International8d ago

Cargo Traffic to Los Angeles Port Expected to Rise in Week Ending May 16

Cargo traffic at the Port of Los Angeles is expected to rise in the week ending May 16, according to data from the ship-tracking system Port Optimizer.A total of 124,885 20-foot equivalent units, a standardized measure of cargo capacity, are projected to reach the port in the week, the data showed. That volume reflects a roughly 18% increase from the previous week and a 48% rise from a year earlier.Twenty-three freight vessels are scheduled to arrive at the port in the week ending May 16, the data showed. That is more than the 19 vessels each during this week and the week ending May 9.President Donald Trump said Friday he will raise tariffs to 25% next week on European Union cars and trucks being exported to the US, as the EU is not fully complying with their trade deal.Trump said Thursday on Truth Social he is removing tariffs and restrictions on whiskey "having to do with Scotland's ability to work with the Commonwealth of Kentucky on Whiskey and Bourbon," in honor of the UK's King Charles III and Queen Camilla.

International8d ago

Technology, Consumer Discretionary Push S&P 500, Nasdaq to Record Highs

US equity indexes rose midday Friday as technology and consumer discretionary helped lift the S&P 500 and Nasdaq Composite to record highs, and crude oil futures slumped.The Nasdaq Composite jumped 1.1% to 25,172.8, with the S&P 500 up 0.6% to 7,250.9. The Dow Jones Industrial Average leaned slightly higher to 49,659.2.In company news, Apple (AAPL) jumped 4%, the Dow's top gainer, after the iPhone manufacturer overnight reported a year-over-year surge in fiscal Q2 earnings and revenue. Apple's board also raised its quarterly dividend and approved a share buyback program of up to $100 billion.Apple remains well-positioned for continued growth through 2026 following a "strong" fiscal Q2, driven by a 22% rise in iPhone revenue, a 28% rebound in China sales, and gross margins of more than 49%, BofA Securities said in a note.Oracle (ORCL), Intel (INTC), and Apple led midday outperformers among companies with a market capitalization of more than $200 billion, according to data compiled by Finviz. In the top 10 gainers from this category, half were either software or semiconductor companies.Meanwhile, the energy sector was the standout decliner in midday trading after Iran offered a revised peace plan, with Chevron (CVX) among the worst performers.Tehran delivered a new proposal to the US while President Donald Trump vowed to maintain a naval blockade, Bloomberg reported Friday. Tehran relayed its latest position to Washington via Pakistan, which mediated a first round of direct negotiations last month, the report said, citing Iran's state-run Islamic Republic News Agency.West Texas Intermediate crude oil futures dropped 3.4% to $101.69, and Brent crude futures fell 2.1% to $108.28.In precious metals, gold futures edged up 0.4% to $4,646.1, and silver futures jumped 3.3% to $76.41.Most US Treasury yields leaned lower, with the 10-year down 1.4 basis points to 4.38%.In economic news, the Atlanta Federal Reserve's Q2 gross domestic product Nowcast came in at 3.5%, down from 3.7% previously estimated.The Institute for Supply Management's US manufacturing index was unchanged in April at 52.7, below the 53.2 reading expected in a Bloomberg survey. The S&P Global US manufacturing index for April was revised upward to 54.5 from the flash 54.0, compared with expectations for no revision in a Bloomberg-compiled survey.

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International8d ago

Atlanta Fed US Q2 GDP Nowcast Estimate 3.5% Growth Vs. Previous 3.7% Gain

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International8d ago

US Equity Indexes Close Mixed as Earnings Lift Technology While Trump 'Not Happy' With Iran Peace Plan

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