Key data takeaways from NY/European sessions - ANZ

Analysts at ANZ noted the key data takeaways in European and NY sessions.

Key Quotes:

"US March PPI printed slightly above market, with both headline and core up 0.3% m/m (mkt: 0.1% and 0.2% respectively). Major household appliances registered their third consecutive climb, up 5.5% m/m and 18.7% y/y, possibly foreshadowing new tariffs introduced on appliances in January."

"While tariffs are expected to filter through to PPIs in coming months, the exclusion of “strategic allies” and higher domestic production should offset some of the impact."

"Meanwhile, US small business optimism dipped to a five month low, led by a drop in expectations of a better economy. On the prices side, net compensation rose to a 17-year high (33%) and more firms (16%) are reporting higher selling prices." 

"US wholesale inventories rose 1.0% m/m in February, suggesting inventory investment will contribute to growth in Q1." 

"Industrial production in Italy disappointed, contracting for the second consecutive month and adding to the recent slowing of European growth."