⚠️ The Conference Board's consumer confidence index fell to 86 in April from 93.9, hitting its lowest since April 2020;

📰 Reuters reported on Tuesday that China has decided to lift a 125% tariff on U.S. ethane imports imposed earlier this month;

📊 According to the JOLTS job openings report, U.S. employers posted 7.19 million new job openings in March, down from 7.48 million in February;

🛢 According to the American Petroleum Institute (API), U.S. crude inventories rose by 3.7 million barrels last week after falling by 4.5 million two weeks earlier;

🇨🇳 China's Caixin Manufacturing Purchasing Managers' Index (PMI) fell to 50.4 in April from 51.2 in March.

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#dxy

🇺🇸 The Dollar Index (DXY) trades at 99.40.

📰 Today, market participants will be closely watching the US GDP data for the first quarter, April employment statistics from ADP, as well as the personal consumption expenditure (PCE) price index for March. The market's interest in these statistics is due to the fact that these data will directly affect the future actions of the Fed on the key interest rate.

📊 The US economy is expected to show modest growth in the first quarter at 0.4% in annual terms, which is significantly lower than 2.4% in the previous quarter. The ADP and PCE data are likely to disappoint even more, which will increase the likelihood of easing the US monetary policy in June.

📉 Another factor in the decline of the dollar remains the uncertainty in trade relations between the US and China. Market participants are increasingly confident that the tariff war between the two largest powers in the world will not be resolved in the near future.

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📹 What is a bond?

⚠️ According to Automatic Data Processing (ADP), private sector employment in the United States increased by 62 thousand in April, compared with a growth of 147 thousand in March;

📉 The U.S. economy contracted by 0.3% in the first quarter on an annualized basis, while analysts expected a growth of 0.4%;

🇺🇸 Inflation in the United States, measured by the personal consumption expenditures (PCE) price index, fell to 2.3% in March on an annualized basis, compared with 2.5% in February;

🛢 According to the Energy Information Administration, oil inventories in the United States fell by 2.6 million barrels last week, compared with the forecast for a decrease of 0.6 million barrels;

📰 US President Donald Trump signed an executive order easing tariffs on auto parts, aimed at reducing inflationary pressure on auto-related goods;

🇺🇸🇨🇳 In an interview on NewsNation's Town Hall early Thursday, Trump said there was a "very high probability that we will reach an agreement with China."

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#wti #brent

🛢 WTI crude oil is trading at $56.70 per barrel.

📰 The prices are under pressure from concerns about a potential increase in supplies from OPEC+, as well as a decrease in global demand for hydrocarbons amid the global trade conflict.

📊 According to data published yesterday, the US economy contracted in the first quarter of 2025, which happened for the first time in three years. In particular, US GDP fell by 0.3% year-on-year, while analysts predicted growth of 0.4%. Data from China also indicated a sharp slowdown in the business activity index in the industrial sector, which fell to 49, a three-year low.

📉 The next meeting of OPEC+ countries will be held on Monday. The participants in the energy pact are expected to agree on an even greater increase in production in June, which, in the face of falling demand, could cause a further decline in prices.

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