Daily Market Insight

• U.S. deficit grows to $262 billion in February as tax refunds surge • BOJ expands measures on 10-year JGB trading to counter short sellers • Australia consumer sentiment pinned at 3-year lows in March • Dollar slides as Fed rate hike outlook tumbles after SVB collapse

• Strong US job growth persists; wage inflation shows signs of slowdown • Return to school unexpectedly boosts UK economy in January • China's February credit grows faster than expected, supporting recovery • Dollar weakens after U.S. jobs data suggests slower rate hike path

• US weekly jobless claims post largest rise in 5 months; labor market still tight • Japan’s economy barely grew in Q4, weak consumption raises policy challenge • China consumer inflation slowest in a year; producer deflation deepens • Dollar loses steam after jobless claims data; Kuroda takes center stage in Asia

• US job openings stay elevated as labor market remains tight • Euro zone economic growth trimmed to zero q/q at end of 2022 • China CPI inflation softens in Feb, PPI worsens on weak manufacturing • Oil extends losses amid US rate-hike concerns

• Hawkish Powell puts 50 bp Fed rate hikes back on table • ECB survey sees moderating inflation, rising wage expectations • Japan runs record current account deficit in January • Dollar jumps as Powell flags higher terminal rate

• US services sector grows steadily; prices stubbornly high • Japan’s January real wages drop at fastest pace since 2014 • South Korea revised Q4 GDP -0.4% q/q, matching earlier estimate • Oil prices advance ahead of Chinese trade data, Powell testimony

• US labor market stays resilient, initial jobless claims fell to 190k • US manufacturing PMI continued to contract, but set to improve • Euro zone inflation softens to 8.5% in February • Thailand’s export fell for the fourth consecutive month in January • 2-year US Treasury yield reaches highest in more than a decade

• U.S. mortgage interest rates remain at highest level since November • Japan corporate capex rises despite weaker profits • German inflation unexpectedly accelerates in February • Dollar drops as commodity currencies gain on China optimism; euro rises on hot inflation

• U.S. consumer confidence retreats, house price inflation cools further • Australia CPI inflation eases in Jan, still pinned to 30-year highs • Chinese business activity blows past pre-COVID levels in Feb • Dollar edges higher, set for 1st monthly gain since September

• U.S. core capital goods orders post largest gain in five months; shipments surge • Australia current account surplus bounces back in Dec quarter • China property price fall to deepen in H1 before rising faster in 2023 • Oil steadies after fall on fear of rate hikes, rising inventories