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U.S. GDP, Jobs Data in Focus This Week; BOJ Decision Due
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The first estimate of U.S. first-quarter gross domestic product and jobs data for April will be closely watched as investors look for evidence of how much President Trump’s tariff plans have hurt the economy.
In Europe, focus will center on eurozone GDP and inflation data. In Asia, a Bank of Japan decision is due alongside a flurry of Chinese economic data.
After a great deal of uncertainty and volatile trading recently, investors will be hoping for further signs of improving trading relations between the U.S. and China. Read more.
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Trump Took On Powell. The Fed Won This Round.
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Photo: Brendan Smialowski/AFP via Getty Images
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President Donald Trump has never shied away from criticizing the Federal Reserve, but his latest campaign to pressure Fed Chair Jerome Powell may be the clearest signal yet that the Fed still has the final say in monetary policy. Trump’s attacks on the central bank, via social-media and public and private comments, were a test of how far American political leaders are willing to go to influence monetary policy and how far the central bank is prepared to go to resist them. For now, at least, Trump has backed off.
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Villeroy: ECB Has Room to Lower Key Rate as Inflation Nears Target
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Photo: Kirill Kudryavtsev/Agence France-Presse/Getty Images
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Bank of Japan Likely to Hold Rates Amid Tariff Uncertainty
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Photo: Philip Fong/Agence France-Presse/Getty Images
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The Bank of Japan is widely expected to maintain its policy rate at 0.5% at a two-day meeting ending Thursday as it waits to see if Japan will be exempt from President Trump’s tariffs. BOJ policymakers have grown more cautious about the impact of additional U.S. tariffs on Japan.
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American Consumers Serve Up Bleak Outlook on Economy
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Photo: Richard B. Levine/Zuma Press
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Inflation Fear Is Making Some People Spend More—and Others Less
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Photo: Adam Gray/Bloomberg
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Kansas City Fed Services Activity Increases Modestly in April
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Photo: Susan McSpadden/Chevrolet
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Services activity in the middle of the U.S. increased modestly in April, and expectations for future activity are positive, according to a monthly survey by the Federal Reserve Bank of Kansas City released Friday.
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The Tenth District Services Survey's composite index, a weighted average of indexes covering revenue, employment and inventory, was 3 in April, up from 0 in March and 2 in February. Readings above zero indicate expansion, while those below zero indicate contraction. (Dow Jones Newswires)
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Trump 2.0 Era Brings Flurry of Crypto Deals
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PHOTO: samuel corum/pool/Shutterstock
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President Trump’s embrace of digital currencies has unleashed a flurry of crypto deals, with companies seeking to capitalize on lighter U.S. regulation and what they hope will be growing mainstream interest in the sector.
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10 a.m.: U.S. Housing Vacancies
10:30 a.m.: Texas Manufacturing Outlook Survey
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8:30 a.m.: Advance Economic Indicators Report
9 a.m.: U.S. Monthly House Price Index
9 a.m.: S&P CoreLogic Case-Shiller Indices
10 a.m.: Consumer Confidence Index
10 a.m.: Job Openings & Labor Turnover Survey
7 p.m.: World Bank Commodity Markets Outlook report
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Futures Traders Price out Possibility of May Rate Cut
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Growing expectations of rate cuts later this year have pushed down shorter-term U.S. Treasury yields over the past month. But heading into the central bank's quiet period, which begins this weekend ahead of its May meeting, futures markets have nearly fully priced out the possibility of a rate cut next month. The April unemployment report is the only major data landmark before the Fed's May 7 policy decision that could significantly swing sentiment. — Matt Grossman
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With the White House imposing 145% tariffs this year on Chinese goods, Chinese manufacturers are fanning out around the world in search of new markets to offload products that would have served U.S. demand.
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China’s government has exempted some U.S. imports that the country would struggle to immediately source from elsewhere from its retaliatory tariffs, people familiar with the matter said.
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Trade frictions have dimmed the prospects for the world economy, Singapore's central bank said Monday as it warned that growth is set to slow sharply both at home and abroad. (Dow Jones Newswires)
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Spain’s unemployment rate rose in the first quarter, a sign of some caution among employers in an economy nonetheless expected to outperform its peers this year.
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WSJ Pro Central Banking brings you central banking news, analysis and insights from WSJ’s global team of reporters and editors. This newsletter was compiled by markets reporter Vicky Ge Huang in New York. Send your tips, suggestions and feedback to vicky.huang@wsj.com.
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