US CPI looms over markets
In March, the country's annual headline CPI increased to 3.5% from 3.2% in February, while the core CPI rose to 3.8% year-on-year from 3.7% in the previous month.
Indices
Indices and the currency market have little changed as traders await US inflation data on Wednesday. In March, the country's annual headline CPI increased to 3.5% from 3.2% in February, while the core CPI rose to 3.8% year-on-year from 3.7% in the previous month. According to consensus estimates, the US headline consumer price index (CPI) may moderately decrease to 3.4% year-on-year (YoY), while the core CPI is seen at 3.6%. Recent economic data from the US has indicated signs of softening, and the Fed has confirmed that the next rate adjustment is "unlikely to be a hike."
The Bank of Japan
Earlier this Monday, the Bank of Japan reduced the offer amount for bonds with residual maturities of more than 5 years and up to 10 years to 425 billion yen. That is 50 billion yen less than the bank's previous operation on April 24. It's the first time it has cut the purchase offer since December.
China consumer prices
China consumer prices rose for the third straight month. Consumer prices edged up 0.3% in April year-on-year (YoY), versus a rise of 0.1% in March, suggesting a comeback in consumer demand. Meanwhile, producer prices extended their declines, dropping 2.5% in April from a year earlier.
Apple
Apple is reportedly closing in on a deal with OpenAI to put ChatGPT on the iPhone. According to Bloomberg, the partnership would see Apple integrate ChatGPT into iOS devices to power a number of AI features.
Oil prices
On the commodity market, oil prices extended their decline on signs of weak fuel demand and as comments from US Federal Reserve officials dampened hopes of interest rate cuts. Last Friday, Baker Hughes total rig count fell to 603 from 605 the previous week. The number of operating oil rigs fell by three to 496.
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