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US UoM Consumer Sentiment Index is seen at 48.2 in May
American consumer confidence is expected to have deflated in early May, as households have been growing more pessimistic about current conditions and the broader economic outlook, according to preliminary data from the University of Michigan.
Fxstreet
Fri, May 8
USD: Hiring recovery supports steady Fed – Commerzbank
Commerzbank’s Bernd Weidensteiner notes that United States (US) employment rose by 115,000 in April, beating expectations and signaling a recovery after prior weakness. The six‑month average of job gains is picking up again, supported by strong corporate profits and favorable financing conditions.Fxstreet
Fri, May 8
CEE FX: Diverging guidance caps upside – ING
ING’s Frantisek Taborsky reports that the Czech National Bank and National Bank of Poland kept rates unchanged but signalled different risk balances. He sees limited scope for further tightening in Czech Republic and a prolonged hold in Poland with conditional tightening risks.
CAD: Softer jobs data supports on-hold BoC view – TD Securities
TD Securities strategists Robert Both and Emma Lawrence note that weaker Canadian employment in April, including job losses and a higher unemployment rate, is unlikely to bring the Bank of Canada (BoC) closer to rate cuts.Fxstreet
Fri, May 8
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US Stocks Tumble as Nasdaq Drops Over 4%; Micron Plunges Over 12% on Fears Slowing AI Data Center Expansion Will Dent Infrastructure Demand
Nasdaq Drops Over 5%, Philadelphia Semiconductor Index Plunges 12% as Chip and AI Infrastructure Stocks Are Sold Off; Micron Falls 17%, Nvidia Drops 9%
US October Nonfarm Payrolls Preview: Can Employment Rebound? US Stocks, Dollar and Gold Face Key Test
Oil Price Forecast: Brent Falls Below $100 to Two-Month Low as Democratic Win Sparks Truce Hopes, Risks Retesting $80
Micron Stock Price Forecast: Plunges 25% in a Month to Lose $800 Mark, Faces Over 30% Further Downside
