Global Economic News Weekly Update

Global Economic News Weekly Update

METI Report: Japan Industrial Production Growth Decelerates; Downward Trend Seen Continuing

On April 14, 2025, at 23:50, the Japanese Ministry of Economy, Trade and Industry released a report forecasting a potential 1.2% month-over-month growth in Japan's industrial production, a deceleration from the previous 2.5% forecast. This comprehensive report, covering diverse production sectors including mining and energy, also suggested a possible positive influence of increased industrial output on yen valuation, though acknowledging the complex and multifaceted nature of currency markets. 

CMHC Data: April Housing Starts Show Minor Dip; May Forecast Stable

On April 15, 2025, at 12:15 PM, the Ministry of Manpower released the Canada Mortgage and Housing Corporation (CMHC) Housing Starts figures, which were expected to indicate the number of new housing projects started that month, with the latest forecast suggesting around 245.482 thousand starts, a slight decrease from the previous estimates of approximately 246.585 thousand. This index potentially served as a measure of activity in the Canadian housing market and related sectors like banking and construction, and any growth in it could have positively influenced the Canadian Dollar (CAD). The coming report, dated May 15, 2025, is anticipated to be steady at 240.798 K.

US Core Retail Sales Rise Slightly in April; May Forecast Steady

The U.S. Census Bureau released Core Retail Sales m/m data on April 16, 2025, at 12:30 PM, offering a look into recent US retail sector performance, though with inherent uncertainties. Forecasts had suggested a potential 0.1% increase for the reported month, contrasting with a previous forecast of a -0.1% contraction. Core Retail Sales m/m, excluding auto sales to reflect underlying consumer spending better, was calculated from a sample of around 5,000 retail establishments. This indicator was monitored for its potential implications for inflation, with an increase possibly suggesting stronger demand and upward price pressure, and for its potential influence on the US dollar's valuation, although currency movements were subject to various other economic factors and market sentiment. The next release, dated May 15, 2025, is expected to be steady at 0.1%.

Philadelphia Fed Manufacturing Index Drops Significantly; Next Month's Forecast Steady

On April 17, 2025, at 12:30 PM, the Federal Reserve Bank of Philadelphia released its Manufacturing Index, a monthly gauge of manufacturing health in Eastern Pennsylvania, New Jersey, and Delaware, derived from a survey of about 250 manufacturers on factors like employment, orders, and prices. A positive index value potentially suggested regional industrial growth, while a negative one might have indicated worsening conditions, though these were probabilistic interpretations. The forecast for the index was 7.2, a significant drop from the previous forecast of 34.6, suggesting an expected slowdown or contraction in manufacturing activity, although the actual outcome remained uncertain.

RBI Releases Latest Foreign Exchange Reserves Data

On April 18, 2025, at 11:30 AM, the Reserve Bank of India (RBI) released its latest data on India's Foreign Exchange Reserves, which are important for monetary policy and currency management. While such an increase could have supported the Indian Rupee, the actual effect likely depended on the RBI's inflation targets and their strategic use of these reserves to influence the rupee's value based on economic conditions.