US Jobless Claims came in at better than expected 631k. Down from the 674 peak at the end of March and the third consecutive improvement in the 4-week moving average. The chart below shows that major turning points in the 4-week moving average of claims historically have coincided with the end of US recessions (as defined by the NBER)
Chinese PMI came out at 53.5 - the fifth consecutive monthly move up and the highest reading since April last year.
In Japan, March industrial production rose 1.6% MoM (consensus: 0.8%). That said, IP is still down by almost a third from a year ago. Household spending also beat expectations by falling just 0.4% in March against consensus survey of - 2.5%.
UK Manufacturing PMI rose to 42.9 in April (consensus: 40.0) - the highest reading since August last year
Taiwan’s equity market had its biggest one-day gain for almost 18 years after the government said that the stock market would be open to Chinese institutional investors
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