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In April, U.S. consumer prices saw a smaller-than-expected increase, registering at 0.3% compared to the previous 0.4%. In May, the Federal Reserve decided unanimously to maintain policy rates for the sixth consecutive time, keeping the federal funds target rate at 5.50%, in line with expectations. In April, the producer price index, which gauges what producers receive for their goods, rose by 0.5%, marking a 2.2% increase over the past 12 months, the largest rise in a year. In April, the Bank of Japan (BOJ) maintained its policy rate at 0.1% as widely expected and reiterated its commitment to bond purchases as decided in March.

Read more here: https://www.puprime.com/will-fed-push-back-on-rate-cut-next-week/

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Australia's economy experienced sluggish growth, with the Gross Domestic Product expanding by only 0.2% in the fourth quarter of 2023, below the anticipated 0.3%. This marked the fourth consecutive quarter of disappointing figures. In April, the ADP jobs report showed the inclusion of 192,000 nonfarm private jobs, slightly lower than March's 208,000, but still exceeding expectations of 179,000. Despite a minor slowdown in job creation, this indicates the labor market's enduring strength. In April, the Bank of Canada maintained its benchmark interest rate unchanged for the sixth consecutive time since July as the central bank expressed its intention to monitor whether the slowdown in inflation persists before considering any rate cuts during previous meeting. In April, U.S. job growth slowed more than expected, with nonfarm payrolls increasing by just 175,000 jobs, compared to 315,000 in the previous month. This represents the slowest job growth in six months and falls short of expectations.

Read more here:
https://www.puprime.com/non-farm-payrolls-report-market-movers-ahead/

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Australian retail sales experienced a greater decline than anticipated in the March quarter, dropping by 0.4% compared to the expected 0.2% decrease. This marked the lowest annual retail sales growth since 2021, excluding pandemic-related impacts. In April, the Conference Board released its CB Consumer Confidence report, revealing a decline in consumer confidence from 103.1 (revised from 104.7) in March to 97.0 in April, against an analyst consensus of 104. The U.S. gross domestic product (GDP) growth rate slowed to an annual rate of 1.6 percent in the first quarter of this year, marking a significant deceleration from the 3.4 percent growth in the fourth quarter of 2023. In March, the core personal consumption expenditures price index excluding food and energy increased 2.8% from a year ago in March, unchanged from February and slightly higher than expected 2.6%.

Read more here:

https://www.puprime.com/surprise-or-steady-aprils-core-pce-data-to-set-market-tone/

In March, Canada's consumer price index increased by 0.6% compared to the previous month, surpassing the 0.3% growth seen earlier. In April, the Reserve Bank of New Zealand opted to maintain its official cash rate at 5.5 percent for the sixth consecutive meeting, emphasizing the ongoing need to address inflation fully. In March, the UK Consumer Price Index registered a slower-than-anticipated increase, reaching 3.2% in annual terms, down from the 3.4% rise observed in February. In March, UK Retail Sales remained unexpectedly stagnant, diverging from analysts' expectations of a 0.3% growth, which underscores the absence of monthly expansion. This stands in stark contrast to the revised higher figure of 0.1% in February, emphasizing the sluggish pace of Britain's recovery from last year's recession.

Read more here:
https://www.puprime.com/fed-faces-inflation-heat-whats.../https://www.puprime.com/week-ahead-spotlight-cpis-retail-sales-rbnz-rates/

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