A.M. Notes

Research evidence excerpt

A.M. Notes

years in March, China’s producer prices took another leap, surging 2.8% y/y in April—the strong

pace since July 2022.

Over in Europe, equity markets are mixed to start the week, with little new major economic data to

drive sentiment. The UK’s FTSE 100 (+0.2%) is outperforming with a small gain through midday, while

France’s CAC 40 (-0.9%) is lagging the pack. The USD index is the slightest bit firmer this morning with

the major currencies mostly taking small steps back against the greenback. After recent intervention

talk, the JPY is drifting weaker again, to around 157 per dollar. On the flip side, the CAD is

outperforming, rising modestly against the dollar alongside support from higher oil prices.

The week ahead is expected to be quiet in Asia as far as economic data goes, though the meeting

between President Trump and President Xi will garner significant attention on Thursday and Friday.

Aside from that and continued developments out of the Middle East, there will be a small amount of

European data to chew on the rest of the week that will hopefully give us an even clearer view as to

how well (or not) the region is dealing with the latest energy shock and supply chain disruption.

From the headlines…

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two-dayvisittoChinathisweek.” Reuters

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overwhelminglyvotedtoimpeachVicePresidentSaraDuterteonMonday,settingthestageforatrialin

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