Jerome Powell might be getting a little worried that the battle will go on much longer than expected....so let's hear about that CPI shortly ! >>> notable weakness in U.S macro data last couple of weeks, pushed rate cut expectations back to 2+ before year-end and USDollar clearly under the cosh since (peak rates = peak USD ...quite how far it would go is ZE question though vs other fiat currencies, would tend to think #AUD could have a run eventually with metals-commods and China on the 'mend' and GBP why not - most hated currency in the world, other than JPY !)
Federal Reserve Bank of Cleveland President Loretta Mester said monetary policy is in a good place, adding that the central bank shouldn’t be in a hurry to cut interest rates.
Macron said he would be open to seeing a major French bank being taken over by a European Union rival in order to spur the deeper financial integration he sees as critical for the bloc’s future prosperity
Enovix Begins Customer Sampling of EX-1M Batteries
Biden quadruples tariffs on China EVs and targets chip imports as a trade war intensifies. Treasury Secretary Janet Yellen has said Biden won't allow a second wave of the “China shock” of the early 2000s
U.S. and Taiwan navies quietly held Pacific drills in April
The Biden administration is encouraging Arab states to participate in a peacekeeping force that would deploy in Gaza once the war ends
China is considering a proposal to have local governments across the country buy millions of unsold homes
Turkish authorities said Tuesday they arrested 544 people suspected of links to preacher Fethullah Gulen, whom President Recep Tayyip Erdogan accuses of being behind an attempted coup in 2016
BofA: Electricity inflation is the highest in 40 years, just as data center & AI demand surge
Euro Area April Wages Rise 3.02% Y/y (down from 3.35% YoY in March): Indeed Hiring Lab - Bloomberg
Ole S Hansen on X: "#Copper is repeating what gold did back in March and April: racing higher without looking back. Apart from continued momentum, strengthened by the latest breakout, prices are also being supported by short covering. In the past two COT reporting weeks to 7 May, speculators looking… https://t.co/D533M27Dqi" / X (twitter.com)
Ole S Hansen on X: "Saxo's "2024: Year of the metals" theme, highlighted in our Q1 Outlook continues to gather momentum with our preferred metals of gold, silver, copper and now also platinum continuing higher. Copper's latest surge resembling a short-covering squeeze while platinum has finally https://t.co/OdoO3rNUmY" / X (twitter.com)
Not a great combo !
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