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  • Squawk / 1 hour ago
    Head of Macro Strategy / Saxo Bank
    Denmark
    US consumer confidence drops, but house prices rise:

    We have had a mixed bag of US data today led by a large decline in the Conference Board's consumer confidence index to 95.2 in April from 101.4 a month ago. Consensus had looked for a slight improvement to 102.2 and today's reading of 95.2 is the weakest of the year.

    The Richmond Fed manufacturing index also came in (slightly) below expectations at -3 in April vs. -2 expected, though this was an improvement on March's -8 reading. New order remain weak at -6 (vs. -13 prior) but the number of employees rose to 7 from 6 and the average workweek was also positive at 4 (vs. -4).

    The Case-Shiller home price composite index rose 0.9% m/m in February vs. 0.7% expected and 0.9% prior implying an annual change in house prices of 5% (4.7% expected).

    The S&P 500 index is down a tad so far today (-0.1%). Tomorrow we have Q1 GDP (12:30 GMT) and FOMC (18:00) as the main events.
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  • Article / 1 hour ago

    FX Board: USD under pressure

    Head of FX Strategy / Saxo Bank
    Denmark
    FX Board: USD under pressure
    USD longs are rushing for the exits ahead of the FOMC meeting with AUDUSD and GBPUSD squeezing to impressive new highs for the cycle. It may take some time for the USD to recover from this latest damage unless the FOMC proves a shocker.
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  • Squawk / 1 hour ago
    Head of Commodity Strategy / Saxo Bank
    Denmark
    Gold having another go to the upside after weak US Consumer Confidence data. Now testing buying appetite above old resistance at $1209. Silver once again running ahead, now testing resistance at $16.65
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  • Calendar event / 2 hours ago

    S&P / Case-Shiller Home Price Index

    forecast
    actual
    Med 10-city Index, M/M
    +0.5%
    Med 10-city Index, Y/Y
    +4.8%
    Med 20-city Index, M/M
    +0.5%
    Med 20-city Index, Y/Y
    +4.8%
    +5%
    Med National M/M
    Med National Y/Y
    +4.2%