Japan Construction Orders (YoY): -14.4% (March) vs previous 42.7%

Japan Consumer Confidence Index came in at 32.2, below expectations (33.1) in April

West Texas Intermediate (WTI) oil price extends its gains for the fourth consecutive day, trading around $105.70 per barrel during the Asian hours on Thursday. Crude oil prices climb as a deepening naval blockade of Iranian ports.

China's RatingDog Manufacturing Purchasing Managers' Index (PMI) climbed to 52.2 in April from 50.8 in March, the latest data published by RatingDog showed on Thursday.

China RatingDog Manufacturing PMI above expectations (51) in April: Actual (52.2)

China’s official Manufacturing Purchasing Managers' Index (PMI) eased to 50.3 in April, compared to 50.4 in the previous reading. The reading came in above the market consensus of 50.1 in the reported month. 

Australia Private Sector Credit (YoY) increased to 8.1% in March from previous 7.8%

China NBS Manufacturing PMI came in at 50.3, above forecasts (50.1) in April

China NBS Non-Manufacturing PMI below forecasts (49.9) in April: Actual (49.4)

Australia Private Sector Credit (MoM) came in at 0.7%, above expectations (0.6%) in March

Australia Import Price Index (QoQ) came in at 0.1%, above expectations (-0.6%) in 1Q

Australia Export Price Index (QoQ) declined to 0.5% in 1Q from previous 3.2%

New Zealand ANZ Business Confidence: -10.6 (April) vs previous 32.5

Japan Industrial Production (YoY): 2.3% (March) vs 0.4%

Japan Retail Trade s.a (MoM) rose from previous -2% to 1.3% in March

Japan Industrial Production (MoM) below forecasts (1.1%) in March: Actual (-0.5%)

Japan Retail Trade (YoY) came in at 1.7%, above forecasts (0.8%) in March

South Korea Service Sector Output increased to 1.4% in March from previous 0.5%

The Federal Reserve (Fed) left its policy rate unchanged at 3.50% to 3.75%, a widely expected move, but the underlying message was far from straightforward.

United States Fed Interest Rate Decision in line with forecasts (3.75%)

Royal Bank of Canada (RBC) economist Claire Fan notes that the Bank of Canada (BoC) kept its overnight rate at 2.25% and signaled that a policy rate near current levels remains appropriate if its base-case outlook holds.

Russia Unemployment Rate unchanged at 2.2% in March

As widely expected, the Bank of Canada (BoC) delivered an expected hold at 2.25%, but the details suggested a more nuanced backdrop.

Donald Trump's nominee to become the Chair of the Federal Reserve, Kevin Warsh has been confirmed by the US Senate Banking Committee.

ING analysts Warren Patterson and Ewa Manthey say the United Arab Emirates' (UAE) departure from OPEC (Organization of Petroleum Exporting Countries) from 1 May is a significant blow to the group but has limited short-term impact on the Oil market due to existing Persian Gulf disruptions.

Canada BoC Interest Rate Decision meets expectations (2.25%)

Citing a White House official, Reuters reported on Wednesday that United States (US) President Donald Trump met with top officials from Chevron and other major energy companies to discuss global oil markets amid the Middle East conflict.

Philip Wee of DBS Bank discusses the Federal Reserve’s expected decision to keep the Fed Funds Rate unchanged while Jerome Powell holds his final press conference as Chair.

TD Securities’ Global Strategy Team expects the Federal Reserve to keep the policy rate at 3.50–3.75% at the April FOMC meeting, describing the Committee as patient given balanced labor markets and oil-driven headline inflation.

Durable Goods Orders in the US increased $2.6 billion, or 0.8%, on a monthly basis in March to $318.9 billion, the US Census Bureau reported on Wednesday. This print followed the 1.2% contraction recorded in February and surpassed the market expectation for an increase of 0.5%.