Forexlive Americas FX news wrap: Trade data dims outlook for tomorrow’s GDP report

• US March advance goods trade balance -161.99BB vs -147.85B prior
• US April consumer confidence 86.0 vs 87.5 expected
• JOLTS March job openings 7.192M vs 7.480M estimate
• US advanced wholesale inventories for March 0.5% versus 0.5% last month. Estimate 0.0%
• Lutnick: Tariff adjustments give automakers time to grow US plants
• Trump says he will focus on the economy
• Rubio: It’s now time for Russia and Ukraine to submit concrete proposals
• USTR: Europe is not engaging well on tariff talks
• Lutnick: I have a deal with a country, I’m just waiting for foreign parliament to approve
• The market is now pricing in a full 125 bps in Fed easing in the next year
• Final Atlanta Fed GDPNow Q1 estimate -2.7% vs -2.4% prior
• Dallas Fed April service sector outlook index -19.4 vs -11.3 prior
• China waives ethane tariffs, as rumored last week
• US February Case-Shiller 20-city house price index +4.5% y/y vs +4.7% expected
• Bessent: We want a combo of long-term tariff revenue and lower barriers
• Goldman Sachs: Revising our USD/CAD forecasts lower

Markets:

• WTI crude oil down $1.79 to $60.26
• US 10-year yields down 4.6 bps to 4.665%
• Gold down $18 to $3322
• S&P 500 up 0.6%
• USD leads, AUD lags

This article was written by Adam Button at www.forexlive.com.