HALISTER1: U.S. ECO PREVIEW: Personal Income, Spending Due in 5 Minutes

U.S. ECO PREVIEW: Personal Income, Spending Due in 5 Minutes

(Bloomberg) -- Following are forecasts for today’s U.S. economic releases as compiled by Bloomberg News:
  • Per. Income 0.3% m/m; range 0% to 0.4% (73 estimates)
  • Per. Spending Nom. 0.2% m/m; range -0.2% to 0.4% (72 estimates)
  • Pers Spend Infl Adj 0.4% m/m; range 0.2% to 0.6% (18 estimates)
    • Real spending has been negative the past two months
  • PCE Deflator -0.2% m/m; range -0.3% to 0.1% (40 estimates)
    • Any income acceleration could signal future gains in spending. Factors that contributed to the CPI drop in March could push the PCE Price Index lower as well. -- Bloomberg Intelligence
  • PCE Deflator 1.9% y/y; range 1.8% to 2.1% (28 estimates)
  • Core PCE Prices -0.1% m/m; range -0.2% to 0.2% (52 estimates)
  • Core PCE Prices 1.6% y/y; range 1.5% to 1.8% (36 estimates)

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER: AllianceBernstein Names JPMorgan’s Bernstein CEO as Kraus Exits

AllianceBernstein Names JPMorgan’s Bernstein CEO as Kraus Exits

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
JPM US (JPMorgan Chase & Co)
AB US (AllianceBernstein Holding LP)
3040Q US (AllianceBernstein LP)

People
Peter Kraus (AllianceBernstein LP)
Seth Bernstein
Denis Duverne (AXA Millesimes SAS)
Robert Zoellick (Goldman Sachs Group Inc/The)

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UUID: 7947283

HALISTER1: Pressure on Aussie Remains Fundamental Ahead of RBA: Analysis

Pressure on Aussie Remains Fundamental Ahead of RBA: Analysis

(Bloomberg) -- Downside risks to the Australian dollar remain outside the lucky country given that both traders and economists see eye to eye and expect little new from the RBA statement this Tuesday, writes Bloomberg strategist Michael G Wilson
  • Aussie should be trading much lower given the fundamentals of fragile commodity prices and interest rate differential with the U.S.; however, it has outperformed on the crosses due to haven buying into the French elections and ahead of Australian PM Malcolm Turnbull’s visit to America this week
    • After topping out at $92.61/MT in March, iron ore has managed to consolidate at an average of $70.88/MT for April
    • AU-U.S. 10-year sovereign spread has averaged 26bps in April against a rolling 12-month average of 39bps
    • OIS pricing for a change in RBA interest rates in 2017 is negligible
  • Should Turnbull’s visit pass without incident and French election risk pass, an as-expected RBA statement is unlikely to be enough to support the Aussie at current levels
  • Leveraged accounts reduced their net long positions in AUD to the lowest since January, according to the latest CFTC data
  • Technical indicators including slow stochastic momentum and relative strength index are beginning to show a bearish bias
    • AUD/USD slow stochastic momentum indicators %K currently lag %D, displaying bearish outlook; relative strength index at 40, also alllows for further losses
  • RBA expected to keep cash rate unchanged at 1.50%, according to all 27 economists in Bloomberg survey; decision due May 2 at 2:30pm Sydney
  • NOTE: Michael G. Wilson is an FX strategist who writes for Bloomberg News. The observations he makes are his own.

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: Full Show: Bloomberg Markets Middle East (04/30) (Video)

Full Show: Bloomberg Markets Middle East (04/30) (Video)

Alert: HALISTER1
Source: BLC (Bloomberg TV & Video)

People
Mohamad Al Hajj (Egyptian Financial Group-Hermes Holding Co)
Tim Fox (Emirates NBD PJSC)
Atilla Yesilada (Globalsource Partners Inc)
Ding Shuang (Standard Chartered PLC)
Jaap Meijer (Arqaam Capital Ltd/United Arab Emirates)

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UUID: 7947283