Key data picks reviewed - ANZ

Analysts at ANZ explained the key data points from overnight. 

Key Quotes:

"The number of Americans filing for unemployment benefits fell 9,000 to 233,000 last week, suggesting employment growth is likely to remain healthy despite undershooting expectations in March.

US import prices were unchanged in March, despite markets expecting a small rise. On an annual basis, import prices were up 3.6%, supported largely by USD weakness over the past year (one exception being petrol prices, which were up 19% y/y). March data suggests that the pass-through from the weak dollar to tradables inflation is beginning to soften. Export prices were up 0.3%.

Euro area industrial production fell 0.8% m/m in February following a 0.6% m/m fall in January. The drop was led by a 3.6% fall in capital goods output (a volatile component) and a 1.6% drop in durable consumer goods. The picture across the EA was uneven. Industrial production fell 1.5% m/m in Germany and 0.5% m/m in Italy. Industrial production rose 1.3% in France, was up 3.9% in the Netherlands, and rose 1.4% in Spain. Overall, February industrial production provides yet another signal that euro area growth is slowing."