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US: Consumer credit to have expanded at a steady pace in March - Nomura

Analysts at Nomura explain that as consumer fundamentals remain firm in the United States, they expect consumer credit to have expanded at a steady pace in March (Consensus: $14.0bn).

Key Quotes

“According to the Federal Reserve report, consumer credit increased $15.2bn in February, which is slight acceleration from the $10.9bn increase in January. Revolving credit, which primarily consists of credit card loans, rebounded by 3.5% in February after an unexpected 3.2% drop in January. Nonrevolving, such as education and auto loans, continued to increase at a steady pace of 5.3%.”

UK: Early local election results indicate a strong showing for the Tory Party - BBH

The research team at BBH notes that early results of the UK local elections indicate, as expected, a strong showing for the Tory Party as they appear
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EUR/JPY deflates from highs near 123.70

After hitting fresh 4-month tops near 123.70 in early trade, EUR/JPY has returned to the 123.00 neighbourhood, where it seems to have found decent sup
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