United States RealClearMarkets/TIPP Economic Optimism (MoM) registered at 42.8, below expectations (48.1) in April

Societe Generale economists report that February Euro area activity and labour market data were slightly disappointing but within normal ranges, with unemployment at 6.2%.

Canada Ivey Purchasing Managers Index s.a below forecasts (55.9) in March: Actual (49.7)

Nordea analysts Jan von Gerich, Tuuli Koivu and Anders Svendsen now expect the European Central Bank (ECB) to prioritise inflation over growth as the Middle East conflict prolongs and broader price pressures build.

United States Redbook Index (YoY) climbed from previous 6.9% to 7.6% in April 3

Federal Reserve Bank of New York President John Williams told Bloomberg on Tuesday that the impact of the Iran war will drive up headline inflation.

Durable Goods Orders in the United States (US) declined 1.4%, or $4.4 billion, to $315.5 billion in February, the US Census Bureau reported on Tuesday. This print followed the 0.5% decline recorded in January and came in worse than the market expectation for a decrease of 0.5%.

United States Durable Goods Orders ex Transportation above forecasts (0.5%) in February: Actual (0.8%)

United States Durable Goods Orders ex Defense declined to -1.2% in February from previous 0.5%

United States Durable Goods Orders came in at -1.4% below forecasts (-0.5%) in February

Private-sector hiring in the US has added extra momentum in mid-March. According to the NER Pulse, the weekly companion to the ADP National Employment Report, companies added an average of 26K jobs per week in the four weeks ending March 14.

United States ADP Employment Change 4-week average climbed from previous 10K to 26K in March 14

"A whole civilization will die tonight, never to be brought back again. I don’t want that to happen, but it probably will," United States (US) President Donald Trump posted on Truth Social on Tuesday.

Citing an unidentified senior US official, Axios reported on Tuesday that the US military conducted strikes on military targets located on Iran's Kharg Island.

TD Securities analysts highlight a record monthly rise in the Melbourne Institute Inflation Gauge, pushing headline and trimmed mean inflation to their highest non-COVID levels since 2008. At the same time, Australian household spending growth is modest and momentum is slowing.

According to a Reuters report, a senior Iranian official has rejected a temporary ceasefire called in the two-tier deal by the United States, which was delivered by Pakistan.

Japan’s Finance Minister (FM) Satsuki Katayama said during European trading hours on Tuesday that the administration remains focused on mitigating risks to the Japanese economy in the wake of the Middle East war.

Societe Generale economists describe a quiet week in the UK, with Gilt yields easing as markets trimmed Bank of England (BoE) hike expectations after Governor Bailey pushed back on tightening.

EUR/CAD gains ground as the Euro (EUR) receives support from the hawkish tone of the European Central Bank (ECB). The currency cross is trading around 1.6100 during the European hours on Tuesday.

Spain 6-Month Letras Auction up to 2.362% from previous 2.059%

Singapore Foreign Reserves (MoM) climbed from previous 416.1B to 419.2B in March

Commerzbank’s Chief Economist Dr. Jörg Krämer argues that the European Central Bank should respond to the recent Oil price shock by prioritizing long-term inflation expectations. He notes that higher energy costs are both lifting inflation and weighing on growth, creating a policy dilemma.

Spain 12-Month Letras Auction rose from previous 2.121% to 2.611%

Brown Brothers Harriman’s (BBH) Elias Haddad highlights a busy US data calendar for the Dollar, with February PCE, March CPI and the University of Michigan survey guiding inflation expectations.

United Kingdom S&P Global Composite PMI below expectations (51) in March: Actual (50.3)

United Kingdom S&P Global Services PMI below forecasts (51.2) in March: Actual (50.5)

European Central Bank (ECB) policymaker and the head of Belgium's central bank, Pierre Wunsch, said in the Wall Street Journal’s (WSJ) What's News podcast conducted on Monday and released on Tuesday that the central bank could deliver an interest rate hike in the April meeting to limit the effect of

China Foreign Exchange Reserves (MoM) came in at $3.342T below forecasts ($3.4T) in March

Danske Bank analysts observe that global equities are about 4% above recent lows, with investors increasingly pricing a future de-escalation in the Middle East. Cyclical sectors have outperformed and volatility has declined across regions and asset classes.

Here is what you need to know on Tuesday, April 7: