IN THE OVERNIGHT 28 APRIL

April 28, 2023

Asia mostly GREEN…Europe in the RED

Hong Kong: Hang Seng closed up +0.27%
China CSI 300 +1.02%
Taiwan KOSPI +0.23%
India Nifty 50 +0.77%
Australia ASX -0.27%
Japan Nikkei +0.34%
All European bourses in negative territory so far this morning with the exception of Spain and German tech
US indices in negative territory so far this morning in pre-market USD +0.51%

Overnight Data/News

China PBoC Sets Yuan Mid-Point At 6.9240 / Dollar VS Last Close 6.9203
China PBoC Injects 165B Yuan Of 7 Day Reverse Repo At 2%; Injecting A Net 77B Yuan In Open Market Ops
Australia PPI (Q/Q) Q1: 1.0% (prev 0.7%) – PPI (Y/Y) Q1: 5.2% (prev 5.8%)
Bank Of Japan Leave Rates Unchanged At -0.1%, Maintain 10 Year JGB Yield Target At About 0%
BoJ Scraps Forward Guidance On Interest Rates – Will Add To Easing Without Hesitation If Needed – Price Risks Are Skewed To Upside For Fiscal 2023, Downside For Fiscal 2025 – To Do Broad-Perspective Review Of Policy For 1 To 1.5 Years
Japan Housing Starts (Y/Y) Mar: -3.2% (est -3.9%; prev -0.3%) – Annualised Housing Starts Mar: 0.877M (est 0.875M; prev 0.859M)
France GDP (Q/Q) Q1 P: 0.2% (est 0.2%; prev 0.1%) – GDP (Y/Y) Q1 P: 0.8% (est 0.9%; prev 0.5%)
German Import Price Index (M/M) Mar: -1.1% (est -1.2%; prev -2.4%) – German Import Price Index (Y/Y) Mar: -3.8% (est -3.6%; prev 2.8%)
German Unemployment Change Apr: 24.0K (est 8.0K; prevR 19.0K) – German Unemployment Claims Rate SA Apr: 5.6% (est 5.6%; prev 5.6%)
German GDP SA (Q/Q) Q1 P: 0.0% (est 0.2%; prev -0.4%) – German GDP NSA (Y/Y) Q1 P: 0.2% (est 0.8%; prev 0.3%) – German GDP WDA (Y/Y) Q1 P: -0.1% (est 0.3%; prev 0.9%)
Swedish Retail Sales (M/M) Mar: -1.6% (prev -1.2%) – Swedish Retail Sales WDA (Y/Y) Mar: -11.6% (prev -9.4%) – Swedish Wages Non-Manual Workers (Y/Y) Mar: 3.3% (prev 3.7%)
Swiss Retail Sales Real (Y/Y) Mar: -1.9% (prev -0.5%)
French CPI EU Harmonised (M/M) Apr P: 0.7% (est 0.5%; prev 1.0%) – French CPI EU Harmonised (Y/Y) Apr P: 6.9% (est 6.7%; prev 6.7%) – French CPI (M/M) Apr P: 0.6% (est 0.5%; prev 0.9%) – French CPI (Y/Y) Apr P: 5.9% (est 5.8%; prev 5.7%)
French PPI (M/M) Mar: 2.0% (prev -0.9%) – French PPI (Y/Y) Mar: 12.9% (prevR 15.8%)
Spanish CPI (M/M) Apr P: 0.6% (est 0.9%; prev 0.4%) – Spanish CPI (Y/Y) Apr P: 4.1% (est 4.4%; prev 3.3%) – Spanish CPI EU Harmonised (M/M) Apr P: 0.5% (est 0.6%; prev 1.1%) – Spanish CPI EU Harmonised (Y/Y) Apr P: 3.8% (est 4.1%; prev 3.1%)
Spanish GDP (Q/Q) Q1 P: 0.5% (est 0.3%; prevR 0.4%) – Spanish GDP (Y/Y) Q1 P: 3.8% (est 3.1%; prevR 2.9%)
Italian GDP WDA (Y/Y) Q1 P: 1.8% (est 1.4%; prev 1.4%) – Italian GDP WDA (Q/Q) Q1 P: 0.5% (est 0.2%; prev -0.1%)
Italian Industrial Sales WDA (Y/Y) Feb: 1.3% (prev 8.6%) – Italian Industrial Sales (M/M) Feb: 7.2% (prev -1.1%)
Eurozone GDP SA (Q/Q) Q1 A: 0.1% (est 0.2%; prevR -0.1%) – Eurozone GDP SA (Y/Y) Q1 A: 1.3% (est 1.4%; prev 1.8%)
Russian Central Bank Keeps Its Key Unchanged At 7.5%; As Expected
BoJ To Review Long-Term Easing Measures, Consider Reviewing Future Guidelines – Nikkei
China Envoy To Japan: China Hopes Peaceful Resolution Of Taiwan Issue, But Would Not Promise To Abandon Use Of Force
US Officials Coordinate Rescue Talks For First Republic Bank – RTRS Sources
Europe’s next crisis: Water
German Government Spokesperson: Not Currently Pushing Ahead With Plans For An Export Ban On Chip Chemicals To China