Foreign Exchange Market Update

April 29, 2026

United States Durable Goods Orders Rebound 0.8% in March

New orders for U.S.-manufactured durable goods rebounded in March. Durable goods orders climbed by 0.8% in March after tumbling 1.2% in February.

Excluding orders for transportation equipment, durable goods orders grew by 0.9% in March after jumping by 1.2% in February. Ex-transportation orders were expected to climb by 0.4%.

The increase in orders of durable goods partly reflected a surge in orders for computers and electronic products, which spiked by 3.7%. Order for machinery and electrical equipment, appliances, and components also saw notable growth during the month.

Orders for non-defense capital goods excluding aircraft, a key indicator of business spending, shot up by 3.3% in March after jumping by 1.6% in February. Shipments in the same category, which is the source data for equipment investment in gross domestic product (GDP), grew by 1.2% in March after increasing by 1.3% in February. 04/29/2026 - 09:32:00 (RTTNews)

Eurozone

Euro traded at 1.1696 against USD at 9:00 AM PST

German inflation accelerated in April, fueled by higher energy prices. Consumer price inflation rose to 2.9% in April from 2.7% in March. EU harmonized inflation also advanced to 2.9% from 2.8%. Energy prices surged 10.1% from a year ago, marking the biggest rise since February 2023.

Consequently, core inflation that excludes food and energy prices softened to 2.3% from 2.5%. Services inflation rose to 2.8% from 3.2%. Meanwhile, goods’ costs rose at a faster pace of 2.9% after climbing to 2.3%. On a monthly basis, the consumer price index (CPI) climbed 0.6%. The harmonized index of consumer prices (HICP) increased 0.5%. 04/29/2026 - 09:00:00 (RTTNews)

Italy's consumer confidence decreased for the second straight month in April to the lowest level in more than three years. Consumer sentiment dropped to 90.8 in April from 92.6 in the previous month. A score below 100 indicates a pessimistic outlook.

All components of the consumer confidence indicator deteriorated, except for assessments of the household budget and opinions on saving.

Among components, the economic climate index dropped sharply to 82.7 from 88.1, and the future climate index weakened from 85.3 to 82.5. Similarly, the personal climate indicator slipped to 93.8 from 94.2, and the current climate index fell to 96.9 from 98.0.

The composite business confidence indicator worsened to a 6-month low of 95.2 in April from 97.3 a month ago. The fall in confidence was most marked in market services, with the index falling to 99.1 from 102.6, primarily influenced by the decline in the tourism sector.

Confidence among manufacturers weakened, and the corresponding indicator dropped to 87.9 from 88.7. The morale for the construction sector also decreased notably to 100.9 from 103.6, while the retail trade confidence improved to 100.8 from 100.5. 04/29/2026 - 06:35:00 (RTTNews)

Spain's harmonized inflation accelerated in April due to higher energy prices amid the Iran war. The harmonized index of consumer prices (HICP) posted an annual increase of 3.5%, which was faster than the 3.4% rise seen in March.  Meanwhile, consumer price inflation eased to 3.2% from 3.4% in March.

At the same time, underlying inflation that excludes unprocessed food and energy, edged down to 2.8% from 2.9% in the previous month. The consumer price index (CPI) rose only 0.4% on a monthly comparison after climbing 1.2% in March. Similarly, the monthly growth in the HICP slowed to 0.7% from 1.7%. 04/29/2026 - 05:37:00 (RTTNews)

Bank of Canada Leaves Rates Unchanged Amid Uncertainty About Iran, U.S. Trade Policy

Citing ongoing uncertainty, the Bank of Canada (BoC) on Wednesday announced it is widely expected to leave interest rates unchanged for the fourth consecutive meeting.

The Bank of Canada said it decided to maintain its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%.

The decision to once again leave rates unchanged came as the Canadian central bank noted the evolving conflict in the Middle East is causing heightened volatility, and U.S. trade policy continues to reshape global trade patterns.

While acknowledging the Iran war has led to sharply higher energy prices and transportation disruptions, the BoC said its Governing Council is looking through the war's immediate impact on inflation but will not let higher energy prices become persistent inflation.

The BoC said it stands ready to respond as needed and remains committed to maintaining Canadians' confidence in price stability through this period of global upheaval. 04/29/2026 - 10:03:00 (RTTNews)

Australia Inflation Strongest Since 2023

Australia's consumer price inflation accelerated at the fastest pace since 2023, driven by increases in housing and transport costs. Consumer prices increased 4.6% on a yearly basis in March, marking the strongest inflation since September 2023.

The largest contributor to the annual rate was housing, which grew 6.5%. Transport cost advanced 8.9%, and food and non-alcoholic beverages prices moved up 3.1%. Monthly, consumer prices grew 1.1% as a 32.8% surge in automotive fuel prices led to a 9.2% rise in transport costs. 04/29/2026 - 01:27:00 (RTTNews)