Tokyo reopened after a holiday Tuesday and the Nikkei recovered slightly, thanks to the positive closings of the day before on both sides of the Atlantic, and despite the data on Japanese industrial production for March, although on the rise, was lower than the waited. However, the MSCI Asia Pacific regional index is more or less stable and April will end with a slight loss compared to the previous month.
Important data on US GDP and the Fed's FOMC decisions on monetary policy are expected today. No news from the Fed is expected, the 10 billion monthly cut in the stimulus is practically confirmed, and the Fed, as well as the Japanese central bank (which confirmed its policy today), will maintain an expansionary stance. The data on US GDP will confirm a slowdown in growth, which however is largely due to the harsh winter.
Yesterday the Conference Board announced that consumer confidence has decreased, but compared to a very high figure in March: both the CB indicator and that of the University of Michigan indicate that consumer confidence, if averaged mobile, keep pointing up.
The euro weakened slightly, to 1,381, and so did WTI oil (at $100,5/b). Gold remains below 1300, at 1294 $/ounce.
