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Monday, April 03, 2017

Fiat Chrysler down -5.0% vs +0.4% est.

Fiat/Chrysler is also announcing lower car sales, adding the the weak numbers from Ford, GM and Honda.  

Their sales slumped -5.0% vs. last year. The estimate was for a gain of +0.4%.  

UPDATE: Toyota is down -2.1% vs estimate of down -1.2%

The USDJPY is a few pips lower.

ISM manufacturing for March is due at 10 AM (est 57.2 vs 57.7 last month), along with Construction spending for February (estimate 1.0% vs -1.0%).

Today the US car sales for March are being released and so far, the numbers are not looking up to expectations.

  • Ford sales were down 7.2%. The estimate was for down 5.9% 
  • GM sales were up 1.6%. The estimate was 7.0% according to headlines on Bloomberg. CNBC shows an estimate of 9.6%. Either case the numbers are not great.  CNBC also reported higher inventories accumulating.

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